Hacking Millenial hiring in the Digital Age
By Weiting Tan | The rise of the digital age has brought unparalleled change to the modern workforce. Candidates now hold far more power, as the current job market is 90% candidate-driven, according to Management Recruiters International. Roles have essentially reversed–talents pick their employers, not the other way round.
With the ubiquity of platforms like LinkedIn and Glassdoor, job opportunities are within easy reach, and candidates can find out a massive amount of information about a startup and its culture even before the first interview. To recruit the best and brightest, employers must know how to use the right digital tools and strategies in the hiring process.
Looking beyond the stereotypes
Millennials have been vilified endlessly with a host of stereotypes. From being dubbed constant job-hoppers to “lazy, entitled narcissists” in a TIME cover story, this generation is blamed for countless problems with today’s hiring processes and workforce.
Like it or not, Millennials will comprise 50% of the workforce by 2020, so it would be foolhardy not to understand the means to attract and retain them, and the truth behind some of those stereotypes.
A Udemy report interviewed 1,000 Millenials and found that learning and development, flexibility, and stability are most important to them. In other words, they’re not just looking for a paycheck, but a job that empowers them to make a difference, and can help them grow personally and professionally.
The report also showed that 43% of Millennials expect to have between three to five jobs during their career, and 38% expect one or two, which is not any more than previous generations in their youth. A Census Report found that only 20% of Millennials moved in 2017, which is down 25% from previous generations. Job-hoppers? Not exactly.
Ultimately, employers have the opportunity to attract, recruit, and retain talent in the long run, so long as they understand how to do it.
The importance of showcasing culture
A LinkedIn study showed that 75% of job seekers research a company’s reputation and brand before applying, so it’s imperative for employers to focus on building the company’s brand. Having a clear, thoughtful online presence and numerous positive employee reviews means half the recruitment battle is won.
Understanding what Millennials appreciate in a company will help startups craft a compelling and honest company identity. For instance, they value social responsibility, so showcasing how your company is socially conscious will convince Millennials that they’ll be proud to work for you.
Millennials also place considerable emphasis on growth and development. Thus, job descriptions should not just be a laundry list of roles and responsibilities, but demonstrate their opportunity to develop within the organization.
They are also a generation that values work-life balance. Having competitive annual leave days, benefits, and perks packages will help entice talent, but this doesn’t necessarily mean ping-pong tables and buffet spreads for lunch. Non-essential benefits like continuing education reimbursement, flexible work arrangements, and student loan assistance are real benefits that will strike a chord.
In today’s recruitment climate, startups must effectively communicate their company mission and culture, commit to employee development, and stay nimble in attracting and retaining the right talents who align with your values.
After all, happy workers mean better life and better business.
About the Author
Weiting is the Regional Director of Southeast Asia at Wantedly, a social hiring platform that allows talents and companies to meet based on mission and values. With offices in Tokyo, Singapore, Hong Kong, and Berlin, Wantedly brings solutions to companies in this new age of hiring.