20 Feb Understanding Millennial Values When Hiring
One of the fastest growing hiring pools is made up of Millennials, which are those younger adults born 1980-2000. And we can expect to see more working Millennials than ever in a few short years. By 2020, 1 in 3 adults will be from the Millennial age group.
But this generation is a different from those past—and in an interview, you may find that applicants from it have different values and motivators.
So what should you know and understand about applicants from this generation before bringing them on board? Let’s take a look.
1. They’re not as motivated by money.
Research shows that 87.5% of Millennials disagree with the statement: “Money is the best indicator of success.” This highlights the fact that these younger employees are motivated by other factors—not necessarily a paycheck—and you might need to look for other areas to leverage. Company culture, work-life balance, and other perks are a great place to start.
2. They’re looking for growth.
Many employers are finding that retention of younger employees typically lasts less than a year. Without opportunities for growth or advancement, Millennials are quick to search for greener pastures.
3. They’re highly educated.
More than any past generation, Millennials have obtained some form of advanced education. Because of this, they often face higher debt in young adulthood and sometimes have difficulty obtaining financial independence.
4. They want to be their own bosses.
With an active entrepreneurial spirit, many Millennials look forward to the opportunity to work for themselves at some point in time. Don’t be surprised if a potential Millennial hire has a side gig, either.
5. They’re quick learners.
Growing up with information more readily at their fingertips, Millennial employees are great at teaching themselves how to do the things they aren’t initially sure how to do. It’s the “I’ll just Google it!” spirit that means less hand-holding for you as the employer.
Keep these values in mind when a Millennial walks into your office for an interview. While they may have some different values and motivators, they’re ambitious, ready to grow their careers, and are eager to impress you as the boss.
What other trends have you noticed while working with Millennials?