Millennials extensively research companies online before they consider applying for a job with one. They are likely to not only visit your website but also look at sites like Google and Yelp for consumer reviews, and sites like Glassdoor for reviews by both current and previous employees. Compared to other generations, they're more likely to use online job boards, company career web pages and social media to seek out new job opportunities. To attract millennials to your company, it's worth reviewing the career pages on your websites and focusing energy on cultivating your talent brand.
The one big sticking point for millennials when applying for jobs is their salary, and they are unlikely to compromise. Nearly 80% make more money in a new job than they did in their previous role, and a third of millennials will see as much as a 30% rise when they pursue a new opportunity. They will come to the table ready to negotiate the best package they can, determined to climb the ladder.
When it comes to leaving their jobs, the number one reason for millennials is to advance their careers. This is followed by compensation, the desire to be better challenged at work and to take a role that is a better fit for their skill set. Although the top 3 reasons for accepting a job as a millennial are the same for men and women, some factors tend to chime more with one gender than the other.
Work life balance is most embraced by women; they are invested in company values and care about working for a company that appreciates their input and is a good culture fit. They are most likely to use social media and a company's website to pinpoint the culture and attitude towards employees. Men however are primarily concerned with compensation, the potential for innovation at a company and having a challenging work portfolio. They are most likely to use search engines to research a company or use their LinkedIn network to find someone they know at the company and ask them about their experience.
It's good practice to make sure you're aware of how your company is perceived online before interviewing a millennial because they're likely to have done their research and could ask you about it!
Millennials will respond to a job advert that shows them they can advance their career with you, and that you offer a great benefits package. A recent study by The UCL School of Management found that hiring approaches that work in firms that are innovative and rapidly changing had done away with the rigid and all encompassing job descriptions. The report found that companies that were open about the need to innovate and be responsive to whatever the future held put just as much emphasis on the undefined elements of a role as the defined ones.
The opportunity to really make a mark on a role and make it their own will directly appeal to millennials, and also help your business to recruit high performing individuals who can adapt to change quickly and effortlessly.
So when it comes to interviewing millennials, remember:
- They'll have done their research, so be prepared to address any negative reviews your company has online
- Emphasise how the right person can take the job description and develop the role
- They are interested in the benefits that working for your company offers
- Present them with a career development plan should they be successful and demonstrate that you can help grow their career
- Highlight your company values and how they filter down the organisation.
