HR Question: Creating a Dynamic Workforce - UST
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Question: We are looking to hire millennials in an effort to create a more dynamic workforce. What are other companies doing in terms of workforce standards, benefits, policies, etc. to attract this age group?
Answer: The first step in attracting the best and brightest candidates of any age, including millennials, is to ensure that your employer brand is compelling. Tell your company's story and show applicants your unique value proposition. Studies show that millennials want to learn about the company's culture prior to applying and expect an application process that is simple and fast. These employees also expect an employment experience that includes opportunities to learn, balance work/personal life and contribute quickly to the business.
Additionally, take an objective look at your workplace policies that may help in attracting and retaining millennials:
- Learning and development opportunities.
- Goal-setting and performance processes.
- Coaching, feedback, and recognition/reward systems (including training company leaders as coaches and mentors).
- Unlimited PTO policies (draft with legal counsel due to state and municipal laws regarding vacation and sick leave).
- Flexible work schedules.
- Telecommuting or off-site work.
- On-site fitness and other wellness programs.
- Off-site teambuilding activities.
- Social media policies (create these with legal counsel to avoid National Labor Relations Act and privacy violations).
Interestingly, according to a recent study entitled “The Millennial Leadership Study,” 91 percent of millennials aspire to be a leader and out of that, 52 percent were women. Almost half of millennials define leadership as “empowering others to succeed,” and when asked what their biggest motivator was to be a leader, 43 percent said “empowering others,” while only 5 percent said money and 1 percent said power. When asked about the type of leader they aspire to be, 63 percent chose “transformational,” which means they seek to challenge and inspire their followers with a sense of purpose and excitement. The study also found that millennials are known to seek companies that offer flexible work schedules and telecommuting, even if they make less money. Finally, the study found that 28 percent of millennials said that work/life balance was their biggest reservation about being a leader.
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