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Millennial Manifesto: Top Rated Work Values

4 tips to learn how to reach and attract millennials.
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     The rumors are true, a considerable percentage of millennials are still living in their parent’s basementsjust waiting for an ideal career opportunity. And believe it or not, they’re not looking for just good pay. Andy 2020, they will make up 40% of the total workface, meaning it’s in every organizations interest to learn to reach and attract them. With this mind, it is increasingly important for companies to foster a work environment that is cohesive to the way millennials think. Here are four tips for promoting a workplace for Generation Y & Z.

  1. Job Benefits

Companies that offer a good range of benefits are more likely to attract young employees. 401K, options for compensation plans, health insurance, and paid time off are just some benefits that are important to millennials. Oftentimes, companies also offer tuition reimbursement programs if employees wish to sharpen any skills related to their line of work. Data analytics courses, writing classes and public speaking workshops are among other examples of what a company may include as a part of a tuition reimbursement program. Such benefits are strong indicators of solid company culture, which promotes an environment that interests them.

  1. Company culture

On that note, good company culture is fundamental to younger generations. A recent study by economists at the University of Warwick reported that happy employees lead to 12% more productivity. If companies are devoted and willing to invest in their employees, they are more likely to feel good about working there and thus, produce better results.

Company clubs that foster learning opportunities for minorities like LGBT representation, as well as intercompany sports for instance, are great ways to strengthen relationships between coworkers and bring enthusiasm to the workplace.  An organization that unable a work/life balance by providing these types of skill enhancements and informational opportunities is a great way to cultivate this.

  1. Compensation

Today, offering competitive wages is more important than ever, considering a study done by Harvard, reporting that 42% of all college graduates have an average loan debt $25,550. In fact, an increasingly high number of student debt may be harming property ownership, so young people who value property ownership may look for higher wages to support these big investments.  However, that is not all, millennials consider pay one of the most important criterion for workforce happinesssixty-eight percent of millennials think an increased salary would improve happiness, compared to 60% of boomers.

  1. Opportunities for growth

Millennials favor a company structure that not only recognizes a job well done, but where they can learn and enhance their skills. Organizations that offer training, opportunity for advancement and offer promotion for those who continually do a good job, are keys to appeal to this unique generation.  Aspire for employee loyalty by listening to them and figuring out if you’re company is meeting their particular needs and wants.

Flexibility is also an important aspect of fostering a healthy work environment.  A study by JP Morgan Chase found that 95% of employees working in an environment where the manager is sensitive to work and personal life feel motivated and more likely to exceed expectations.  For example, perceived supervisors that are open to accommodating unexpected situations in an employee’s personal life is a great way to increase workplace satisfaction amongst millennials.

     As you can see, investing in the well-being of millennial jobseekers not only have long-term payoffs for your company, but is also critical in this everchanging workforce. Remember, generation Y & Z are the most educated and technologically advanced age group in the job market. Ignoring stigmas and changing your company to the ever-shifting values of the younger generation is the only way to attract skilled candidates and continually stay competitive. With being said, make sure to follow our tips, because after allno company can afford not to recruit the best talent.

 

 

 

 

 

By: Kimberly Milani

Contributor: Mariana Paranhos 

Images: Getty Images

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