Should You Hire Millennials?
Your business is scaling up and you’ve managed to land that big new contract or client that promises to put your outfit on the map, finally. All of a sudden you’re faced with the looming reality that you’re going to need to bring on some new employees to pull it all off. The question you may be asking yourself is whether or not you should delve into that oft-maligned pool of labor labeled The Millennials. In short order, the answer is yes. Although this particular generation has been the subject of some less than flattering stereotyping, upon closer examination the benefits of bringing this younger set onboard are clear. Furthermore, as time goes by you may no longer have a choice.
Millennials represent 40% of the workforce today and by 2020 that number will rise to 46% creeping toward half of the total. And what’s more, nearly 7 million of them hold a college degree but not a job. Aside from those attractive numbers as far as availability goes, the traits that this sector of the workforce is bringing with it speak for themselves. Adaptability, ambition, the ability to multitask, a fresh and different perspective along with an array of hard skills tied directly into the fast-paced tech-oriented environment that business and commerce take place in all put these workers in an excellent position in the professional arena.
Connectivity is Key
It’s been said that Baby Boomers are immigrants to the digital world whereas Millennials are its native-born sons and daughters. A huge part of the inherent benefits of hiring from this generation is their familiarity with and regular use of social media across all platforms and the connectivity they live with around the clock. It goes without saying that your business should have a social media presence and digital profile. That being said, it’s simply good business strategy to bring on employees that already have both of these in spades. Older folks may be quick to scoff at how Millennials apparently love talking about themselves, but part of that is how they love to talk about their professional lives, what they’re doing and whom they work for. Hiring from this group can help increase your company’s social media exposure as well as organically create awareness and the attached advertising of your brand, product or service simply by being associated with a better connected group of individuals keen on developing deeper, value-laden connections on a wider scale.
More Bang For Your Buck
No business plan is complete without taking into account the overhead costs of operation, and a major part of this is what you’re paying your employees. In smaller outfits the value that’s to be had in hiring Millennial workers over paying more for more experienced candidates should be taken into account. Where older candidates with a longer history in the workforce may be ready to get to work faster, they carry with them a heftier price tag as well as years of doing things their way rather than how you’ve envisaged it. With younger workers you may find yourself dedicating more time to molding and training them, but at the same time you are working with a relatively blank slate where there are fewer bad habits to break and no massive egos to fight against, saving you frustration and a whole lot of grief in the long run. Seeking out Millennial prospects for your team can help reduce cost in a big way while at the same time helping you develop employees who are expecting far fewer perks and who adapt to change quickly and easily.
Give and Take for a More Efficient and Productive Team
Just as Baby Boomers may come into a job with egos that need to be massaged, younger workers also require some attention for a smoother take off. A decent paycheck and matching 401k program may not be enough when trying to woo new employees. Focusing on your organization’s contributions to the community and how you are giving back on local or regional levels are big draws. Accepting a lower salary as a younger employee is a far less bitter pill to swallow when they feel like there is meaning and purpose being served in some way while executing the company mission. Frequent feedback, opportunities for collaboration and pushing decision-making responsibilities down the chain of command can help make Millennials more comfortable and settle in for the long run. Though younger workers are statistically more likely to change jobs and careers more frequently up and through their thirties, offering room for growth and advancement and the chance to progress professionally within an organization will do wonders for holding onto younger workers longer.
Flexibility Now for Future Success
It all boils down to flexibility. Where once working 9 to 5 for forty years straight with no vacations or time off was a badge of honor, the same no longer holds any allure for the younger set. Being able to work from home on occasion, adding extra hours here for time off there or working around and with schedules in practical and compatible ways mean keeping your workforce happy, effective and efficient. Doing away with strict and rigid rules and regulations will broaden your appeal and by becoming a more flexible employer you will develop more flexible employees willing to fill the gaps and step in where and when you need them across your organization.
Prepare to hire Millenials now. In the near future the luxury of choice may no longer be yours.
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