As you may already know, millennials are taking over the workplace. In the next five years or so, millennials will make up at least 50% of the total workforce in America. So it’s pretty accurate to say that your place will comprise mostly of them.
But what are you doing to attract and retain this new generation of workers?
Well, if you think a high salary is the only factor that matters to millennials, you need to think again. Although a high salary is beneficial, this generation looks at other assets of a company before agreeing to work for it. Here are 3 assets that you need to adapt into your workplace to attract and retain more millennials:
Prioritize Work-Life Balance With a Flexible Schedule
The classic 9 – 5 work hours are becoming a thing of the past. Millennials want the ability to schedule their own work hours to fit their lifestyle. Also, they would rather work from home than commute to the office every day.
This generation of workers has a higher priority for work-life balance and believes quality work can be done in the comfort of their homes. That way, they can schedule their work hours around their personal responsibilities, like taking care of their family or even going to the gym.
Companies are starting to acknowledge this new trend and changing their culture to provide better work-life balance. If you are not willing to adapt to this new workforce, then you will definitely be lagging behind your competition.
Show You Want Them to Succeed as Much as Your Company
Millennials have high ambitions, which can make them one of your most valuable assets. They are intelligent and motivated, but most important of all, they yearn to grow. They constantly look to learn and develop themselves, so training and development programs are vital to them.
These types of programs show that your interested in investing in your workers and that you truly care about their well-being. If there is no opportunity for growth, then you will lose their interests and make them feel like they’re at a dead-end job.
If you do decide to adopt there training programs, you need to make sure they are not mandatory. If it’s mandatory, then some of them may feel forced to take part in a course they don’t have any interest in. That may create more turnover for your business rather than loyalty.
Give Them a Purpose and Goal They Can Stand Behind
What makes your service or product stand out? Why should customer or potential employee work for you? These are simple questions that should give you an overview of your business’s purpose.
A business’s purpose is crucial in terms of attracting and retaining millennial employees. Your company’s values, interests, and vision need to align with your workers. Millennials will work diligently for a business that share the same ideals as they do. From there, they will feel like they have a better sense of purpose and that their work is making an actual difference.
These 3 components are crucial to millennials, and they are actually willing to receive lower compensation if your company prioritizes these assets. With a new generation of workers rising, you need to adapt to the changes they bring. Then, you’ll be able to obtain some quality workers who will drive for success the same way as you.