A study by the Society for Human Resource Management reports that Millennials will comprise 50 percent of the work force by 2020. With only two short years to prepare, you'll need to rethink your recruiting processes to ensure your organization is well positioned to compete for top talent.
Especially when you consider the staggering amount of Baby Boomers retiring and the fact that Gen-X's labor force participation rate peaked in 2008.
1. Step up your social recruitment strategy
On a monthly basis, social networks like Facebook (2.07 billion active users) and LinkedIn (106 million active users) see a ton of traffic. Compared with more traditional job board sites like CareerBuilder, which has roughly 14 million unique visitors per month, the numbers speak for themselves.
With 90 percent of young adults (ages 18 to 29) using social media, companies can't ignore the extensive reach that social media platforms provide.
I have to admit: When a job pops up on my feed from a trusted company, colleague, or friend, I'm much more likely to click on it than I am to field a call from a recruiter.
2. Evaluate your candidate experience
A 2017 Deloitte report revealed that nearly 80 percent of executives rated employee experience as very important (42 percent) or important (38 percent). However, only 22 percent said that their companies were excellent at building differentiated employee experiences.
If you haven't considered your candidates' experience already, then get into the habit of judging your recruitment experience from the candidate's point of view. I recently reconsidered the ease of access to information on my company, our presence on social media, the difficulty of our application process, and the perception of our organization through the interviewing process. It was a great point of introspection for me.
3. Cultivate a healthy culture
As compensation plans and employee benefit packages become more standardized across industries, Millennials are looking toward a company's culture as the primary differentiator. Organizations that come out on top are able to articulate their corporate values and are transparent when it comes to their unspoken norms.
When I was considering my last career move, I chose my current organization because its culture was more representative of my personal values. Through the interviewing process, the company made me feel like I could be myself at work.
I can't be the only one who doesn't want to have two separate lives. Work is, and will always be, an extension of your personal brand.
4. Don't forget your passive candidates
Passive candidates are those who are gainfully employed and not actively searching for a job. However, this doesn't mean that they're not open to the idea of switching.
To ensure that you stay top-of-mind with this segment of the work force, invest in a content strategy that adds value and actively manage both your corporate and employer brand.
5. Expand your global reach
According to a PwC report, 71 percent of Millennials expect and want to do an overseas assignment during their career.
If your organization can open up its borders to international employees or offer international assignments, it will significantly increase the pool of Millennial talent.
6. Take back your onboarding efforts
Nothing will frustrate an employee faster than a lack of follow-through on promises made during the recruitment process. Investing in tools and methods to ensure your Millennial employees hit the ground running will be a critical factor in whether they decide to stay.
To provide an excellent onboarding experience, make sure you develop a system that helps:
- Shorten a new employee's learning curve through technology, process, and business acumen training.
- Connect new employees with key constituents vital to their success.
- Foster intentional cultural mastery and interpersonal network development.
- Clarify expectations and ensure new employees understand their roles, where they fit in, and how they are evaluated.
- Provide opportunities for new employees to experience your organization's products and services.
7. Offer professional development
According to a Gallup report, 59 percent of Millennials say that opportunities to learn and grow are significant when applying for a job. A Deloitte report states that 63 percent of Millennials feel that their leadership skills aren't being adequately developed in their existing roles.
One of the most terrifying feelings for me is stagnation. A static environment can leave Millennials--especially those who are accustomed to constantly learning and growing--questioning the future opportunities.
To attract and build a work force of the future, you must ensure that your organization is staying abreast of the trends that give Millennial-friendly employers a leg up on their competition.