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Attract and Retain Millennials with a Practical Approach

Written by Salary.com Staff

June 28, 2018

Attract and Retain Millennials with a Practical Approach Hero

Not all companies can offer fun employee perks like ping pong tables, nap rooms, or free snacks, and yet we are all faced with the challenge of recruiting in a very competitive labor market.  Many employers would like to offer employee-friendly programs but have difficulties funding multiple initiatives.  Now that millennials make up the largest generation in today’s workforce, it is natural to look at programs aimed at attracting them.

You hear lots of buzz around what millennials want from their careers, but it’s not always easy to translate those preferences into affordable offerings in the modern war for talent. Whether you’re recruiting with a tight budget or simply looking to improve retention rates, here’s some suggestions for turning millennials' priorities into workplace initiatives, based on data from The Intelligence Group republished in Forbes.

Millennials' Approach to Careers & Employee Culture

  • Aspire to Make the World a Better Place
  • Want to be their Own Boss
  • Desire Flexible Work Schedules
  • Prefer a Coach or Mentor to a Boss
  • Favor a Collaborative Work Environment
  • Crave “Work/Life Integration”

Translation to Effective Practices

  • Include a “Volunteer Day” in PTO Plan
  • Promote Employer-Sponsored Volunteer Opportunities
  • Hold Team Competitions for Giving or Volunteering
  • Support Flex Time & Job Sharing
  • Hold Open Forums for Employees to Voice Opinions
  • Train Managers to Utilize Self or Peer Evaluations
  • Publicize Internal Promotions & Opportunities
  • Promote Efficiency, Not Longer Hours
  • Communicate Company Offerings to Current & Prospective Employees

Developing or refining your strategies to attract, engage, and retain a multi-generational workforce?  CompAnalyst can help. Book a demo today.

 

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