3 ways to attract millennials, from a millennial
With Millennials recently surpassing Baby Boomers in population, it’s time we understand the shift this generation will bring to the work force. Each generation wants something different from their future employer, each one has different priorities. Baby Boomers look for job security, accumulated vacation time, and healthcare benefits; but what do Millennials really want?
1. Pay Them (enough to pay off their student loans)
In 2016, recent college graduates left school with about $37,172 in student loan debt. What’s more eye opening, the average 21 years it takes to pay off these student loans. Luckily for recent college graduates, the average entry-level role salary has spiked up to $50,000. Unfortunately, there are still 39% of those graduates who are making less then $25,000. If you want to attract a Millennial, stop paying the bare minimum. Start your entry level salaries at no less than $40,000.
2. Be Flexible
The days of sitting at a desk for 9 hours are gone. You can thank Millennials for the evolution of open office spaces, big beanbag chairs, and rooftop meetings. If you want to hire Millennials, don’t confine them to a traditional, windowless, cubicle, work environment. But if you’re not quite ready to bring in the Lovsac (trust me, just look it up) to your work environment, then I suggest offering a different form of flexibility in the workplace. Many startups have adopted the very successful work-from-home days throughout the week. Not only does that allow freedom to your employees, it also has been studied to show increased productivity. It’s a win-win.
Accumulated vacation time isn’t what Millennials are looking for either. Companies have become creative with their benefits, like Netflix and Twitter, who have created an Unlimited Vacation Policy. No set rules, no guidelines. I know what you’re thinking, unlimited? No way. But don’t worry, studies show employees with these benefits only take an average of three to five weeks off.
3. Provide Purpose
A 2014 Forbes article suggested millennials are constantly searching for their purpose in life; and it’s no different in their workplace. The desire to work outside of their set job description is appealing to Millennials. Enabling them to take on projects, collaborate outside their realm, and providing a space where they can speak up, can help them envision a future within your company.
