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5 Ways Startups Attract and Retain Young Millennials

The workplace is changing dramatically. Upgraded and innovative technologies are constantly appearing, and every day the internet makes new techniques and ideas available on a global scale. Perhaps the most significant change is the young millennials, are now a growing segment of the workforce. This is the first generation to grow up immersed in mobile networks and social media. They have new expectations and preferences. Your company must change its recruiting tactics if you want to attract and retain young millennials.

1. The Lattice Instead of The Corporate Ladder

Young millennials don’t seem to be interested in spending years working their way up from the bottom for the same employer. They tend to switch jobs, even good jobs, more often. A major reason cited for this is that many companies don’t provide opportunities for career development. Call it lack of patience, but the new workforce grew up seeing adults toil faithfully at the same job for years on end only to be laid off at the next “downsizing”. They want to gain something beyond a steady income. They want lasting rewards that will help them advance regardless of where they work.

The key to retaining young millennials in the workplace is to provide them with opportunities to take on a greater or more varied role. Inclusion in projects or decision-making gives them a sense of purpose and self-worth. Responsibility helps to develop leadership skills. Training, cross-training, and frequent reviews improve and augment job skills that will benefit them in the long run. In return, you’re getting better employees.

2. Promote Entrepreneurship

With no illusions about job security, young millennials have a strong sense of entrepreneurship. They want to be in charge of their own destiny as much as possible. They have a greater sense of their own value than previous generations, and justifiably so. They are more familiar with the digital world and tend to have more knowledge of technical progress, programming, and social change. They are more open to innovation and flexibility as a strategy. This awareness can be a great asset to any company. But what they really want is for this to work for their own benefit.

Attracting and retaining young millennials is easier if your company gives them this sense of entrepreneurship. Find a way to make them part of the company mission. Let them take ownership of their own ideas and solutions. Encourage creativity and give them credit for their accomplishments. You could even drive this home with incentive programs that involve profit sharing or stock options.

3. Focus on Technology, not Money

The young millennials may not be particularly worried about money. Paying off student loans or building good credit is not a priority with them. They’re more likely to take a competitive wage for granted, and not haggle for a little more. What they like is technology, and a greater role in technology, because they understand it’s vital role in modern society and their own contentment. In your recruiting, instead of emphasizing salary, put stress on the technology that comes with the job.

Integrating the young millennial generation in the workplace requires a technical culture. Bring-your-own-device (BYOD) policies, wireless networks, and the introduction of tech such as solar power or smart lighting systems will intrigue them. Big data analytics, instant messaging, telecommuting, team collaboration software, or encouraging participation in company charities can also help them form a stronger connection with your business.

4. Emerging Health and Wellness Tech

Workplace stress is an increasing concern for modern businesses of all types. One factor that foresees young millennials changing the workplace is that they tend to perform less effectively in fast-paced, demanding environments. They will burn out quickly. It’s important that your company provides de-stressing tools that also help to support well-being. This could be ergonomic furniture, fitness centers, or relaxing gardens. You could also provide healthy snacks, digital nutrition programs, or weight-loss contests. The young millennials will like Fitbits or similar wellness tech as prizes and incentives.

A job providing a more healthy, enjoyable atmosphere is a key to engaging the young millennial generation in the workplace. If you want to attract a wider pool of candidates, try to provide your company with a reputation as a great place to work. Happier, healthier employees will also be more focused, more productive, and less likely to need sick days or medical care. A healthier working environment benefits everyone.

5. Flexible Working Conditions and More Remote Options

One the chief contributors to stress is a growing sense of the daily grind. The late millennials will dislike long, traffic-congested commutes. Daily meetings where employees have little input can seem like a frustrating waste of time. Job duties that become routine will have them discouraged and looking for something new. Retaining young millennials in the workplace calls for reinventing the workflow to be more engaging and much less tedious.

Allow for flexible scheduling. Let them make their own hours, especially if they have personal or family business to take care of. Consider going to a 10-hour shift and four-day work week, that what works for you and your employees. For businesses with jobs that are entirely computer-and-internet-based, letting your employees take a workation and work remotely on a rotating schedule with other members of the team will make them feel more flexible, less stressful working for your company.

New technology has made working from home more doable than ever. Online collaboration tools and remote meeting tools have risen in popularity and created the opportunity for remote workers to remain engaged and connected. Furthermore, a recent study found that remote workers report being more productive and feeling more appreciated by their employer.

Conclusion

Don’t get the idea that young millennials are less dedicated and more demanding. The new generation of workers brings a lot to your company. They’re more comfortable with diversity and change. The late millennials need to achieve. In the future, they’ll be the core of the workforce everywhere. Attracting and retaining millennials with top talent is all about giving them the perks they look for and the chance to make a difference.

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