Attracting the Next Generation of Talent
When it comes to discovering top talent, it’s not always easy to compete against larger companies and find the candidate who can help grow your business. Hiring employees takes time and energy to determine who would be the greatest asset to the organization. Plus, with Millennials now being the largest generation in the labor force since 2016, it’s crucial that your small business stand out from the crowd in order to attract these young professionals.
Boomers and Millennials
Although Baby Boomers made up the majority of the nation’s workforce in the 1980s, their position is starting to buckle under the weight of the Millennial and post-Millennial generations who are now of working age. In order to engage with this younger group, you might consider offering some unique benefits to catch their interest.
As societal values change, attitudes toward business change as well. Boomers were once attracted to a company based on growth potential and the ability to build experience. Typically, Boomers are described as loyal, experienced and entrepreneurial, with the tendency to retire later in life.
Millennials, however, are often conscious of an employer’s morals, ethics and impact on society when choosing a place to work. While they do have a reputation of being less interested in anything long-term, they also show signs of wanting to associate with a positive, politically and socially responsible brand.
Retaining Young Talent
In order to attract young professionals, put yourself in their shoes. If you were to do a quick Google search of your company, what would be the results? What are you doing to ensure that employees feel appreciated and valuable? Now more than ever, Millennials are shifting the workplace dynamic to emphasize the importance of merging professional integrity with personal character.
Although Millennials are rumored to care more about the brand of coffee in the breakroom than quarterly projections, they’re making it known that they want workplace values to align with their goals. Offering more than just a salary and standard perks might make your employees more excited about their work and choose to stay longer. Consider placing more emphasis on family time and flexible hours while making sure your team members are developing their skillsets on challenging projects and tasks.
As responsibilities and dynamics shift throughout the workplace, it is important to address any disconnects that may arise. Understand your current culture, and be deliberate about who you bring into the group. You may have to combat certain prejudices that exist regarding Millennials. For instance, about 54% of Baby Boomers believe Gen Yers seek immediate gratification, and 46% believe they are unwilling to devote the necessary time or hard work to achieve success, indicating feelings of entitlement. On the other hand, about 53% of Millennials believe Boomers are out of touch and disinterested when it comes to broadening their skills through training.
While hiring young talent can provide fresh perspectives and encourage higher accountability toward your company’s ethics, it is important to also consider how they would mesh with your existing employees. For more tips on hiring young professionals, check out the accompanying infographic.
Infographic provided by The Jacobson Group
Author bio: Nikki St. Martin is VP of Marketing for The Jacobson Group, the premier insurance talent acquisition firm in the country. St. Martin is responsible for the ongoing marketing and branding efforts of The Jacobson Group.