Category Archives: Retirement

What You Need to Do to Attract Young Employees

What You Need to Do to Attract Young Employees

Different generations have different professional expectations. That’s important to remember as an HR professional. As employees from previous generations retire, you can’t rely on the same tactics to attract today’s entry-level candidates. It’s necessary to adjust your strategy based on the changing preferences of a new generation.

This doesn’t need to be difficult. The following tips demonstrate simple ways you can appeal to up-and-coming talent in the coming years. If your company expects to lose a significant number of employees to retirement in the near future, they’re particularly important to keep in mind.

Offer Flexibility

Remote work has been on the rise for years now. As technology has improved, more businesses have given employees the freedom to work from home. In the past, this has been seen as a perk. However, today’s workers often expect companies to offer remote work options when possible.

This isn’t just speculation. According to one survey, 64 percent of Millennials say they are excited by the prospect of being able to work outside of the office when learning about potential employers. With more businesses offering this degree of flexibility, potential employees may be inclined to seek employment elsewhere if yours doesn’t.

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Even if a job candidate accepts a position without a remote work option, there’s a good chance they’ll be looking for opportunities at other organizations. They may leave your company for a job somewhere else as soon as they find a position at a company with a remote-friendly policy.

This leads to a high turnover rate (and high expenses). Avoid it by consulting with executives and managers to identify which roles in your company can be filled remotely when reasonable and appropriate.

Offer Training

Gone are the days when employees were content to perform the same tasks in the same role for years. Surveys indicate today’s workers typically want to know they have opportunities to grow their responsibilities at a company. This is actually a major reason that people leave jobs. A survey of workers reveals that 70 percent of Millennials consider a lack of development opportunities to be a major motivation for seeking employment elsewhere.

Prepare for this changing expectation by developing a plan to offer training programs. You should also coordinate with management to ensure employees across all departments have the opportunity to earn promotions and move up the ladder. When young workers feel they are in roles that allow for growth, they’re more engaged.

Have a Mission

Today’s employees also want to know their work is meaningful. In fact, surveys indicate Millennial workers value a sense of purpose more than high pay. Companies can no longer rely on the promise of a raise as the sole way to motivate and engage their workers.

Thus, your company needs to stand for a set of values. Establishing your brand’s mission and clearly communicating it to employees allows you to provide them with the sense of meaning they desire.

This is also an effective way to make companies in less compelling industries more attractive to young workers. For example, maybe your industry is accounting. A traditional accounting firm may not have the “cool” factor of a hip new startup. However, by focusing on how the services you provide help your clients reach their goals, you can help potential employees recognize why your firm is a great place to work.

Don’t Insist on a College Degree

Some young people are beginning to feel the college experience wasn’t as valuable to them as they’d been told it would be. However, traditional HR professionals may still consider college performance and experience as a major factor when determining whether an applicant is a good fit for a role.

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Don’t be one of them. While there absolutely are going to be instances when a job applicant’s college experiences are relevant, it’s also important to look beyond the college years when evaluating someone’s qualifications. Many young people have found they are able to accomplish much more outside of college than in it.

Adopt a Continuous Feedback Policy

Again, up-and-coming employees want to know they have the chance to grow at a company. Part of that involves receiving feedback from management. Workers can’t know whether they’re likely to get a promotion if they don’t receive feedback from their supervisors regarding current performance.

That said, the annual review is no longer sufficient. You need to shift to a continuous feedback program, in which employees are regularly provided with chances to learn about their performance and progress.

Making the types of changes listed here will require some degree of coordination with various people throughout your organization. Don’t let that stop you from making them sooner rather than later. As employees retire, adopting these new strategies will help you attract talent to replace them.