When it comes to perks, Millennials mainly have one thing on their mind. While companies may assume that free lunches and on-site facilities, like gyms and game rooms, would top their list, that isn’t the case. Those niceties don’t speak to the larger goals that many Millennials want to achieve. If you're going to attract the best and brightest Millennials, here is the perk you need to offer.
Millennials came of age during challenging economic times. Many had trouble finding good jobs after school, settling for jobs they were overqualified for or working at internship after internship, hoping to get an "in" with a good company and a good job.
Now, the work habits that were forced on millennials are impacting employers. Millennials don't have the same experiences or expectations of the workplace that other generations had, and employers who want to hire millennials, perhaps to replace retirees of older generations, need to adapt the way they work to appeal to the younger generation.
Flexible Work Arrangements
Millennials don't expect to be tied to their workplace for a 40-hour work week. They've grown up with computer technology that keeps them connected around the clock, wherever they are; they don't see why work should have to me going to a specific place at a specific time. The "gig economy" lets them work on projects in short bursts of time when they have availability, giving them the freedom to pursue personal interests and passion projects. While those positions were initially focused on low-level, menial tasks such as running errands and standing in line, newer gig firm let even grads with advanced degrees like MBAs work on a short-term basis.
In order to compete for workers who prefer that kind of arrangement, firms need to offer flexible work arrangements that extend beyond an occasional "work-from-home" day. This might mean hiring millennials on a part-time basis; to succeed, the part-time schedule has to be desired by the employee rather than an attempt to save on the cost of benefits.
Companies can also consider having their millennials work as internal consultants. Rather than being assigned to a specific department or project, they could work for any department that has need of their skill on a specific project. This has the advantage of providing the employee a broad perspective on the company's operations. By also providing the millennial employee a large number of internal contacts, this helps the employee develop connections needed that help professional growth.
Opportunities for Growth
The gig economy lets workers accept the jobs that interest them so they can develop their interests. Within a company, implementing a formal mentorship program will also appeal to millennials who are focused on career development. Companies also need to present millennials with a clear career path, perhaps through implementing leadership programs. Companies also need to refine their mission statement to reflect the millennial values of work interests go beyond financial success.
The Armada Group's talent database includes the best potential employees of every generation. Contact us to learn how to find the best candidates and how to make your job appeal to them.