Finding the right people to work in your company is crucial to your brand’s success. You may have managed to hire the right talents to help you build your business from the ground up. But as your business continues to grow and your need more people to fill in positions, there is a need to step up your talent acquisition game.
Since millennials make up most of today’s workforce, it only makes sense that you change your strategy to start enticing this generational cohort. Think again if you believe traditional offers, high compensation rates, and career advancement opportunities are enough to attract and keep them loyal to your brand. Here’s what the survey says millennials want that can help you snag the best talent in today’s modern world.
Better Flexibility
Gone are the days when workers are fine having a few numbers of sick and vacation leaves each year. But this is not to say they millennials only care about the number of leaves your brand has to offer. What they want is for companies to provide a better work-life balance.
Millennials want to be able to enjoy life while building their careers simultaneously. They came from when most of them suffered financial distress but still value that sense of personal life happiness. You can cater to this need by offering them more structured flexibility.
Allowing your employees to enjoy better flexibility can help you improve their productivity and loyalty while reducing operational costs. However, you need to offer them the structure to assure them that they are still efficient and effective in their jobs. Here’s what some modern employers are doing to give millennials a more structured, flexible way of working:
- Ability to work remotely
- Being able to choose more flexible work hours
- Being transparent when it comes to company rules, pay, and communication
- Obligating employees to use their paid vacation leaves
- Providing the ability to use paid sick leaves for mental health days
Corporate Social Responsibility
One thing that sets millennial workers apart from older generations is advocating for sustainability. They want businesses to exercise their corporate social responsibility to their best abilities. They easily get turned off by brands that practice greenwashing and are willing to compromise if this means working for a sustainable brand.
The good news is there are tons of ways you can start embracing greener and more sustainable business practices. You can start by improving your business premises to make it evident that you are taking the greener and more sustainable step. For one, you can start with a workplace renovation if your budget and circumstances permit.
For instance, you plan on giving your interiors a makeover, like repainting your walls, improving your floors, and replacing old furniture and equipment. Being more mindful of how you choose to go on with the renovation can make a difference when showcasing your newfound goal of embracing green and sustainable practices. Think of low volatile organic compound paint, eco-friendly tiling options, as well as environment-friendly and energy-efficient furniture equipment.
Here are other eco-friendly and sustainable practices your business can start practicing:
- Go paperless
- Invest in energy-efficient upgrades
- Opt for sustainable packaging
- Partner with local and sustainable suppliers
- Reduce waste
- Turn to eco-friendly packaging
- Utilize reusable materials
Equity Compensation
You should know about millennials that most of them are viewed equity compensation as a desirable offer. A study shows that up to 56 percent accepted their current job after being offered equity compensation. This is compared to 27 percent of older respondents who also think having the ability to gain equity with their job to be a deciding factor when accepting their position.
This shows that sometimes, millennials are not simply after the big bonuses that many large enterprises have to offer. Since building wealth is one of their significant concerns, they are willing to achieve this by helping their company grow to its full potential. You can entice top millennial talents to reconsider equity compensation as part of their employment plan with the help of the following tips:
- Educate them on how equity compensation works
- Offer them multiple equity awards options
- Help them develop a financial plan that best suits their interests
The points in this blog post show how different millennials can be, compared to the older workforce. While high salaries, big bonuses, and the ability to advance in their career are all tempting offers, they also care about work-life balance, wealth-building, and a sense of corporate social responsibility. Using these points to your advantage can help you attract top millennial talents for your growing brand.
