Developing Your Talent

Invigorate Your Business With Smart Hires

By Kristen Leverone on December 3, 2012

Millennials (or Generation Y) are the most-educated generation ever in the U.S., yet only seven percent are currently employed by Fortune 500 companies, with many choosing an entrepreneurial path, rather than traditional employment options.

Research indicates that Millennials, born 1977 to 1997, value independence and flexibility, preferring the environment of smaller, entrepreneurial firms. They strive to eventually open their own small businesses or consulting firms. Unlike their parents and grandparents, Millennials don’t expect or seek long-term security with one employer. Rather, they want control of their careers and frequently change jobs to advance.

Companies should be actively seeking to hire Milllennials. They are an ambitious and talented segment of the workforce. Failure to understand and address their unique needs could leave companies with workforces who lacking new ideas, creativity, technical skills and leadership ability needed to grow. What is your company doing to attract and retain younger workers? Here are a few suggestions:

  • Invest in career development and identify opportunities for creative challenges and personal growth. Keep Millennials interested, challenged and engaged.
  • Recognize that Gen Y workers tend to be self-directed and seek advancement, and reward high performers with new and/or high-profile projects.
  • Talk to them about how their performance impacts the organization, recognize their efforts and show appreciation for their contributions.
  • Cultivate a friendly and outgoing company culture where friendships develop and thrive, both in and outside of the office.
  • Provide flexibility that allows for time away from the office with the freedom to work anytime, anywhere.
  • Offer opportunities for networking with fellow colleagues and a corporate commitment to the community and environment.
  • Give Millennials access to the technology they need to gather the latest information quickly.

By 2025, Millennials will make up the majority of the workforce. Make sure your recruiting and retention strategies embrace the future.

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