Not too many years ago, jobs were scarce, and most employees felt lucky to still have their jobs. Fast forward to 2016, and you’ll find the post-recession millennial job seeker of today is far different than the job seeker of the past. Now that the job market has picked up, Millennials (those born between 1980 and the mid-2000s) who either are open to change or seeking a specific position, can afford to be more selective in their next move.
What Do They Want?
While flexibility and time off are very important factors in a job seeker’s decision, most of all he or she seeks an opportunity to learn and grow. If you do not challenge a Millennial, he or she will likely begin to search for opportunities outside of your organization.
Wages have not yet recovered as well as the job market itself, but compensation is still high up on any candidate’s list. It’s no longer just about the paycheck, though. Employees now leave for greater growth opportunity, better work-life balance, flex-time and location. In fact, the desire for work-life balance is no longer gender specific—men and women alike are viewing their lives more holistically, and they are gravitating toward those companies that offer greater balance. We are also seeing more Millennials ask about these details during the interview process, showing their importance to them in a job.
A more interesting question might be who isn’t looking. According to JobVite’s 2015 Job Seeker Nation Study, 45% of workers will leave a position even when they weren’t looking for one in the first place. That means almost half of your satisfied employees would entertain a recruiter’s call for better growth opportunities, or one of the other factors mentioned above.
Millennials Research Differently
Think about it: By 2025, Millennials will comprise 75 percent of the workforce, and that’s not too far off. Millennials approach a company very differently than the generation that preceded them. They have more tools to thoroughly research not only the company but the people who work there. They use Facebook and LinkedIn to learn more about the backgrounds of the team they might be joining; specifically, they want to know if their values, backgrounds and skills match up with their own.
Instant Access Job Search
Gone is the day when job searches were conducted furtively via one or two platforms. Instagram, Snapchat and Pinterest have joined Facebook and LinkedIn for social job hunting. The use of mobile apps and social media compel companies to constantly update the ways in which they reach out to job seekers. In fact, companies vying for the attention of top candidates need to stay engaged in what motivates those employees, as well as how they choose to receive their information.
Millennials are a large part of our talent pool, so in the Skoda Minotti Professional Staffing Group, this is something we work on every day. We find that Millennials are more responsive to us via electronic communication, as opposed to phone calls. We are finding that the best way to reach Millennials is via text, email and social media—a major shift from previous generations.
Technology will continue to dramatically change the ways that job candidates access information about companies and their open positions. Companies that want to attract top talent will need to determine whether their benefits packages speak to the values and needs of today’s job seekers. They also need to be sure they are reaching the best pool of talent in the way their future employees want to be reached.
To learn more about keeping great employees at your company, download our free e-book: Recruiting and Retaining Top Talent.