According to PWC, millennials will make up 50% of the UK workforce by 2020. This, combined with the lowest unemployment rate since the 1970s, has led HR professionals and employers across the UK to re-examine recruitment best practice. From benefits package updates to policy changes, we explore some of the ways you can advise your clients on how to secure the best millennial talent.
1. Illustrate the importance of a business’ reputation
Gone are the days when a young person is grateful to land a job anywhere, regardless of the workplace culture and industry reputation. 78% of people will look up an employer’s reputation before applying for a role. Interestingly, money won’t sway them with half the number of candidates applying for roles saying they wouldn’t work for a company with a poor reputation, even for a pay increase. There should be a focus on managers and recruitment teams working with marketing and branding to improve the way the business is perceived by the outside world. As a recruiter, can you guide your clients, give them examples of other companies that do this well, and the wins they enjoy as a result?
2. Discuss diversity initiatives
With increasing numbers of millennials entering the workplace, it follows that their thoughts and concerns are being heavily considered in terms of policy changes. 47% of millennials list diversity and inclusion as important factors in their job search. It is worth checking with the client that they have an open dialogue in the workplace surrounding equality – regardless of age, race, gender, sexuality, and disability. If your client does not already do so, provide guidance around targets or quotas to address a lack of diversity within the company – this can be seen as a very positive step in rectifying any outdated policies.
3. Erase the stigma of mental health
Millennials may come across as confident and demanding in the workplace, but anxiety and depression are widespread throughout the younger generation. The research points to the fact that manifestations of mental ill-health, including loneliness and panic attacks, are characteristics of the youth of today (more so than other generations at the same age). As a result, millennials have a greater awareness of their mental health and the support available to them in the workplace. From mental health first aiders through to duvet days, there are a plethora of steps your client can take to reduce the stigma surrounding mental health at work.
4. Understand the ‘social bottom line’
Corporate social responsibility (CSR) has been coined as millennials’ ‘new religion’, which is no surprise when they have grown up through the age of global warming, televised wars, revolutions and aid missions. The numbers don’t lie and, according to Cone Communications, 75% of millennials would happily take a pay cut if they could work for a socially responsible organization. They want to make sure they are contributing to a company that is serious about leaving a positive footprint on the world and environment. Have a discussion with your client about their current CSR activities, so as to be able to effectively communicate those with potential talent.
These topics make up a small selection of talking points, but will hopefully leave your client with a positive impression of your industry expertise.