The job market is hot right now. And while this is a good thing for millennials looking for positions, it makes it understandably more challenging for employers. How do you successfully woo an employee who has a handful of other options dangling in front of them?
4 Things That Attract Millennial Candidates
It wasn’t that long ago that we were talking about baby boomers as the largest group in the American workforce. In fact, you only have to go back to around 2010. Then, generation Xers took the title for a couple of years. Now, here we stand in 2017, and millennials – those aged 20 to 36 – make up the largest share of the workforce.
More than one-in-three American workers is a millennial. And as that number continues to grow, so will the need for employers to understand how to effectively recruit this dynamic generation. They’re different from baby boomers in every way and, quite frankly, don’t share a lot in common with generation X either.
The good news is that we know a lot about millennials. They’ve been connected to technology for their whole lives and are quick to provide feedback and insights on topics that are important to them. As a result, we’ve learned a lot about what makes them tick and what they look for in job opportunities.
If you want to attract top millennial candidates and woo them into accepting positions within your company, you have to be proactive and give them what they want.
Here are a few things that will increase your chances of landing the candidates you want:
1. Offer to Pay Off Student Loan Debt
Student loan debt is a huge crisis in this country and younger millennials are carrying most of the burden. Graduates of the class of 2016 are saddled with, on average $37,172 of debt upon receiving their diplomas. For many of these young professionals, student loan debt is the biggest stressor in their lives. They expend a lot of energy trying to figure out ways to pay it back.
For employers, this represents a huge opportunity. In order to attract candidates, you could offer to help pay off debt as part of an employee benefits package. Not only is this attractive to candidates, but it could also help you retain talent longer. As part of the deal to pay off student loan debt, you can require them to stay with the company for a certain number of years.
2. Present a Strong Company Culture
Millennials are much more interested in company culture than previous generations ever were. They want to be a part of something that’s bigger than themselves and are against boring companies that lack personality.
Specifically, research from Yello shows that millennial job seekers are most interested in working for companies that give them the chance to improve over time. As CEO Jason Weingarten says, 'Millennials are clearly drawn, first and foremost, to employers that offer continued growth and learning opportunities.'
3. Prioritize Philanthropy
A recent Deloitte study discovered what was already widely known: Millennials want to work for companies that make a difference in society. Specifically, they want their employers to give back to the local community.
The fact that Microsoft, JetBlue, and Ernst & Young are all seen positively in the eyes of millennial employees isn’t by chance. At Microsoft, 65% of employees actually raise money for various charities by participating in company-sponsored activities. At JetBlue, nearly 2,000 crew members and volunteers donate their time to plant trees. And at Ernst & Young, the annual 'EY Connect Day' allows employees to log more than 60,000 hours of service annually.
Can you find opportunities like these to prioritize philanthropy and attract top millennial talent to your business? You’d be surprised by how easy it is to align your company with a local charity or cause.
4. Promote Flexible Working Opportunities
Millennials are huge proponents of work-life balance. Unlike previous generations that have seen work and life as two important, yet separate areas of life, millennials want to blend the two and create perfect harmony. Flexible working opportunities play a big role in this.
Whether it’s working from home, part-time remote working, flex scheduling, or four-day workweeks, employees want the chance to set their own terms. The more flexible your scheduling is, the more attractive your openings will be to millennials.
Put Your Best Foot Forward
Hiring is different depending on who has the leverage. In today’s climate, businesses are expanding and are being forced to hire in order to keep up with demand. This gives candidates a little more influence than they typically have. So, in order to hire top millennial talent, you’re going to have to step up your game. Give them what they want or some other company will.