The future of a firm is inextricably linked to the destiny of its employees. When new talent joins the workforce, they are inexperienced by definition. The top 1% of university students will stand out - those who have already started a business, received a research grant, or completed some other noteworthy work - but the vast majority of university students will lack the track record needed to make a hiring decision, forcing employers to look for new ways to evaluate talent and devote more time to building relationships with the next generation's workforce. Let's take a look at how businesses and students are working toward fulfilling careers. Accept, first and foremost, that an influx of youthful talent into your business is unavoidable for its long-term success, and that it occurs at a rate of around 4 million people each year across our economy. So, if businesses are ready to hire millennials, how do students feel about the experience of entering the workforce? The experience is aided and documented on the internet. The amount of online communication and (2) the impression of experience are two developments that contribute to the gap in student expectations.
It's a catch-22 situation. Many employers will not recruit someone without 'experience,' and young professionals will be unable to get that experience if no one will hire them. The distinction between academic work, social media engagement, and employer work is finer than what a résumé can convey. In 2004, when the average age of college freshmen was 6, Facebook was launched. Online management of social interactions is projected to play a role, at least in part. Employers are increasingly cultivating social media and specialty community followings to broaden their recruitment marketing funnel.
There are workplace expectations obstacles when the current generation recruits the next generation. The average millennial is 4x as likely to be narcissistic, 3x as likely to be open to change, 2x as likely to be 'creative,' and a quarter as likely to be a team player as the average generation x individual. Ego, adaptability, creativity, and teamwork are all necessary qualities for your future hire to succeed.
Before you roll your eyes at a story on recruiting the younger generations, keep in mind that there are a few things companies should think about.
1. it’s a job market for candidates. There are more job openings than qualified people.
2. By 2025, Millennials (Generation Y, ages 22-31) will account for a large portion of the workforce.
3. Because of the society and technology with which they have grown up, younger generations have quite different views and motives in the job.
Millennials grew up through a historic financial crisis that shattered their faith in global institutions, banks as pillars of society, lifelong employment, affordable housing, and final salary pensions, to mention a few. They have been the test subjects for and pioneers of practically every aspect of our existence's 'technologisation' (not a term), and are more connected to a worldwide network than any previous generation.
The 'iGens,' or iPhone generation, grew up with smartphones. They use digital technology to make all of their decisions about music, movies, restaurants, friends, holidays, dating, education, and even jobs.
Millennials and Gen Y aren't all that different from previous generations; they just want different things, have different priorities and go about finding what they want in various ways. As a result, businesses must reconsider their old approaches for recruiting and maintaining younger generations.
Millennials place a great value on workplace culture. They want a work atmosphere that stresses teamwork and a sense of community. As an agency, one of our most difficult tasks is educating business owners and recruiting managers on how and why they should convey this type of information to future candidates. A job would be advertised in the newspaper, 20 individuals would apply, and the shortlist of contenders would be subjected to a 'grilling' in an interview 20 years ago. In today's social world, however, the employer must sell the company's ethos and the position just as much as the candidate must sell themselves.
Similarly, candidates can be studied via social media to provide employers with insight into their priorities, and we advise businesses to do so for a variety of reasons. The way a candidate portrays themselves online can reveal a lot about their attitude and professional awareness, and it can even reveal a creative spark or a trait that won't be stated on a CV. It also allows conscientious companies to begin forming a relationship with a candidate before the interview, providing them an advantage over the competitors.
This level of personalization in recruitment leads to far better results. Employers who seem to understand and regard them as individuals, not only their skills, but also their values, needs, and goals, will appeal to younger candidates.
We’ve discovered that youngsters motivations fall into four categories:
· EXTRA BENEFITS:
Days off, birthdays off, a Friday drink in the pub, and regular lunches 'on us' Money do not motivate millennials as much as it did previous generations. Young professionals place a high value on having a healthy social life, traveling, and experiencing new things. Perks, additional awards, and advantages, other than merely money and rank, are quite significant when it comes to acknowledging their efforts and displaying individual appreciation.
The ability to change hours regularly is a significant factor. It's no longer so much about work-life balance as it is about work-life integration. We'd all like to spend less time in the office, but because contemporary technology allows us to work from anywhere at any time, we're starting to see work as less of a place and more of a phenomenon. Strict presenteeism makes no sense to a generation that is accustomed to working on the go, responding to emails, and doing work on the train home or even in a café.
· ADDED RESPONSIBILITY:
There is a common misunderstanding among young people that they are entitled to accolades and advancement without putting in the necessary effort. More responsibility, in my experience, is what they seek. They want to advance, prove themselves, and be a valuable member of a team. Regardless of the size of your company, you can provide value to any young person by allowing them to take on duties that their parents or classmates did not have at their age.
· A CLEAR CAREER PATH:
Young professionals entering the workforce are unlikely to be married with a family, as was the case two generations ago; instead, their job and career are everything, and the best prospects will be seeking possibilities to advance.
Set monthly aims or goals for which you will be rewarded regularly. If they're met, you might get an afternoon off, a little bonus, or company-wide recognition, which could lead to a salary raise or promotion in the long run. If this type of compensation and advancement structure can be outlined during the interview process, it can frequently mean the difference between hiring a candidate versus a rival.
A good working relationship requires an understanding of the motivations of the younger generation. Non-Millennials are more likely to quit if they believe they are not being compensated competitively or have a lack of growth possibilities, while Millennials are more likely to leave if their demands for support, appreciation, and flexibility are not addressed.
Of course, we're generalizing, but there's so much study on the millennial generation in the workplace that it'd be foolish not to recognize and capitalize on it to make your firm as appealing as possible to the brightest talent out there. For recruiting the best talent out there, contact us!