What Millennials Want: Impressing Modern Talents in the Office

young people

There are lots of stereotypes surrounding millennials. Other generations see them as the fun-loving, adventure-seeking, and job-hopping workforce. They see millennials as the type of employees who would instead work from home or in a remote location than in a regular office set up. As long as compensation packages translate to more leave dates and higher salaries, many employers think these are enough to attract millennial talents.

In reality, there is more to millennials than all these. This generation longs for work-life balance but is not all are after fun and games. Many professional millennials are willing to stay committed to companies that care about their mental health, their future financial wellness, and other essential aspects, for that matter.

But why target millennials in the first place? For one, the U.S. Bureau of Labor Statistics or BLS predicts that by 2030, millennials will make up 75% of the workforce. They will soon be the largest generational cohort in the workplace.

If your company requires new millennial talents, it pays to learn what they want, what perks they are after, and what other things you can do to impress them. For starters, a good salary offer is always a plus. Here are the other things you can consider doing to attract millennial talents to your workplace.

Equity Awards

Companies think millennials are only after more leave dates, the ability to use these as mental health breaks, a higher salary, and a pantry filled with healthy snacks. Others would throw in better health insurance coverage and free gym memberships.  But one thing that can set your company apart from other businesses is offering equity rewards to your top millennial employees.

We can consider equity compensation as a means of providing millennials with a direct and tangible link to your brand’s growth and success. Sure, short-term bonuses are always great perks you can offer to millennials. But offering something as significant as the ability to build wealth as your company grows is a much better offer for millennial talents.

Many millennials find it challenging to build wealth and live a debt-free life. They worry about their future finances. Offering them the ability to build long-term wealth through equity building can lead to better employee satisfaction.

But then, employers need to be careful when offering equity compensation to select employees. Luckily, there are many choices you can provide to millennial employees. Build flexibility in your equity awards plan so you can stay ahead of your millennial talent-seeking competitors.

diverse workplace

Workplace Diversity

Before, many companies would only hire employees of the same race, ethnicity, or sex. These days, businesses need to do better and keep an open mind if they wish to attract millennial talents. This is because millennials believe diversity in the workplace creates a sense of fair work culture.

Millennials are advocates for diversity. They want more people to realize that one’s talent should not be based on their skin color, religion, age, or sex. They long to work in a company that respects them and will advocate for everyone’s rights.

According to a study, workplace diversity helps in improving productivity. With diversity in the workforce, work becomes heterogeneous. This is because a broader range of ideas is presented during problem-solving meetings, leading to better possible business solutions.

Remember that diversity should not only be a consideration in your lower-level management. Businesses should also consider diversification in upper management levels. This way, there is will racial diversity at all levels.

Digital Employee Experience

Millennials are your type of generation that is more into technology than older generations. They have already revolutionized how companies hire applicants. They want more than to be able to work on boring spreadsheets.

Millennials are after digitalization. They want to work using different tools and software that will help them work faster and more efficiently. If your company is still implementing strict and old-school rules on how to get things done, then sooner or later, millennial talents will treat your business as merely an option.

If you wish to retain millennial talents, offer them the digital employee experience. There are lots of apps and software that offer personalized digital experiences to this tech-loving generation. The key is to keep their experience engaging, and technology is one sure way to improve millennial engagement and productivity.

Millennials will succeed older generations in the workplace. Soon, there will be more millennials than other generations in every company. This means attracting the best millennial talents now can put your company in a better position. Use this as your guide, and you will find it easier to attract and retain millennial talents in your organization.

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