AD HR Services: 5 Tips to Recruit & Retain Millennials
Millennials are the 20-30 somethings that currently make up the largest working generation. By 2020, they will account for almost 50% of the workforce. This means that sooner or later, companies are going to have to hire these Millennials if they want their businesses to keep growing.
Neil Cohen, VP of Organizational Development & Human Resources for AD, has worked at AD for almost three years, and his varied experiences include working as Head of HR for other companies before AD. By working in Human Resources at AD, he is able to help not only those who work at AD, but AD Members as well. One of his recent endeavors was creating and implementing the AD HR Services Program, which includes strategies for recruiting and employment, among other things. In this blog, Neil explains who the Millennials are, what differentiates them from their predecessors, and why employers should be paying attention to improve their hiring & retention strategies for this generation.
1. Know their priorities. “While a company’s experience will vary from individual to individual, I generally find that Millennials often value many of the same things that other generations do, but they’re prioritized differently. If we take the time to understand what their priorities are, it will have positive results in terms of hiring, productivity and retention,” says Neil.
2. Show them the Big Picture. For one thing, Millennials generally want the chance to be part of something bigger than themselves. “They [Millennials] want to be very involved and plugged into what’s going on around them, and I think that’s healthy for a company. They want to know they’re adding value, and connect that to the bigger picture.”
3. Communicate your brand. Neil explains that in terms of attracting new talent, understanding the employer brand is paramount for Millennials. “This group needs to understand who [the potential employer] is as a company and what they value, because it either is or is not going to resonate with them.” Throughout the recruiting process, companies should be genuine with potential hires about the company “brand,” emphasize the company culture, and show them what it’s like to work there.
4. Show the path. If you can’t engage them, you’ll lose them. Millennials will change jobs if they’re not happy or feel “stuck.” A key to retaining these new hires is to fight company hopping, not job hopping. Show them a future career path they can have with your company and let them have their fingerprints on that plan. Components of this plan should include on-the-job experience, mentoring, and formal training. Millennials seek new responsibilities early on in their roles, and they appreciate being given the opportunity to take ownership of their time and performance.
5. Work experience doesn’t equal value. Neil feels that if a company is going to build a future pipeline of talent, it’s always best to try and grow much of that talent internally. “Hiring someone from another company with the relevant experience is good, but oftentimes they have to unlearn what they’ve learned at their old company to fit in at yours. There’s inherent risk with that. I have found that hiring interns or having a college recruiting program is extremely valuable because a company can get these individuals while they’ve still got raw talent, and mold that into what they need.”
Everyone has an opinion about Millennials, but the fact is that every company will eventually have to start hiring from this group if they want to keep growing. Taking a little time to understand the Millennial generation is essential for any company who wants to hire (and keep) top talent in their workforce.
For more information about how AD’s HR Services offerings can help you recruit & retain Millennials, visit the AD HR Services benefit page on our site or contact Neil Cohen ncohen@adhq.com.