Contrary to what popular stereotypes would have you believe, Millennials are people just like you. In fact, they’re looking for the same things most people want in life; love, acceptance, and professional as well as personal growth.
Small business owners will do well to embrace Millennials both as customers and potential employees, since people born between 1981-2000 currently make up a third of the American workforce. And this is a good thing: Millennials are known to be smart, creative, and passionate employees.
But it’s also true that most Millennials are not afraid of change. This means that while older generations tend to prefer job security over new chances, Millennials are unafraid to take a leap of faith, should an exciting opportunity present itself.
This means that while older generations tend to prefer job security over new chances, Millennials are unafraid to take a leap of faith, should an exciting opportunity present itself.
If you’re worried you’ll see a long line of employees heading for the Exit sign, don’t panic. Learn what you can do to attract and retain top Millennial talent.
Millennials grew up in the digital era. This means that whenever they have a question, the first “place” where they look for an answer is the internet. Not finding your business online, or stumbling upon an outdated website can put them off.
Why? Because your website is your digital image. The way you present your business online reflects on how it works in the real world. A shabby website suggests a shabby business. Do yourself a favor and give your digital image that long needed makeover.
Show You Care
Millennials (along with many other generations) prefer to work for a business that makes a difference. But this doesn’t mean you have to save the world every day to attract Millennial employees.
Present your business on the “good” side. Be socially and environmentally conscious, and make sure to give back to the community when you can.
This is important because Millennials work for purpose rather than a paycheck. A vegetarian environmentalist can’t work at a company that conducts animal testing. You don’t have to hug every tree; but you need to show you care about those trees to make your business attractive to Millennial talent.
Millennials tend to expect more flexibility than older generations. Concepts like fixed hours and traditional office settings are slowly becoming obsolete.
Since technology makes remote work a real possibility, why not allow your employees the convenience of (occasionally, or even permanently) working from home? This frees up a considerable amount of money you’d otherwise spend on office space and equipment.
Flexible hours are great perks to attract and retain talent. Don’t make your employees sit around from nine to five every day: let them adjust their schedule to the amount of work at hand.
Offer Opportunities for Growth
Once you hire an employee (Millennial or otherwise), don’t take them for granted. Constant communication and clear feedback are crucial for your team to do their best.
No business can retain talent that feels undervalued. Be transparent about the opportunities you’ll offer your employees for professional growth and advancement. Show your team you care about them and they’ll repay you with constant stellar performance.
Did you notice a trend? All the steps you need to take to attract and retain Millennial talent are beneficial for your business as a whole.
Whether or not you’ll make a new hire in the next few weeks, your current employees (Millennials or not) will be happy with the changes, along with your customers and business partners.
You know what else makes business partners happy? Prompt and hassle-free payments. The next time you need to send a global transfer, try Veem.
Veem allows you to send and request international payments with just a click. You can track all your transactions and save a lot of money, since Veem charges no wire fees and offers competitive foreign exchange rates.
Sign up for a free Veem account and enjoy transparent global payments.