Millennials aren’t driven by salary. Organizations need to realize that money alone won’t sway this generation to accept a job offer. In fact, a survey by Cap Strat found that 72% of Gen Y are willing to sacrifice a higher salary for a more personally and professionally fulfilling career.
So if you want to attract millennials, you’ll need to enhance their work experience beyond a paycheck.
Tuition reimbursement was a powerful attraction and retention tool for millennials
65% said the opportunity for personal development was the most influential factor for retention in their current job
22% saw training and development as the most valued benefit from any employer
Millennials value learning opportunities. And it’s clear that they want to be in a company that will nurture their development. So take this to heart and find ways to help educate and strengthen their skills:
Classes: Consider funding classes related to their field so they can gain more knowledge to support their position at work. Certain industries, such as finance, require exams in order to progress professionally. Covering these classes will help employees advance, especially if they’re still in a junior-level position and don’t have the funds for the courses.
Seminars and conferences: Digital marketing strategies. Latest trends in nanotechnology. Whatever industry you’re in, there are tons of these events out there. Send employees to learn about specific topics from industry leaders and experts.
Rotational programs: Have employees spend a few months at a time in different sectors of the company. They’ll learn valuable skills that they would not have gotten had they stayed in the same position for years.
Training sessions: Bring an instructor to the company. Not everyone can make time to take after-work classes, so having in-house sessions ensures all employees get the same training.
When it comes to millennials in the workplace, it isn’t all about producing. Give them the chance to soak up the knowledge by implementing training opportunities during work hours.
Fun for All
Who doesn’t like to have fun? According to PGi, 88% of millennials are actively looking for a fun work environment. Think about ways you can help relieve the everyday stresses of work for employees and help them connect with their peers:
Breaking bread: Have lunch catered to the workplace and gather your team to sit and eat together. No one can say no to free food, and it provides a great opportunity for people to socialize and get to know their peers.
Happy hour: Having fun doesn’t always have to take place in the workplace. Happy hours are a great chance for employees to unwind after work. And the change of scenery can make it more comfortable for people to start socializing.
Creative work: Set aside some time or even a few days for employees to work on their own projects. Let them get creative! You’ll be surprised at the ideas they come up with. And hey, it’s a great way to inspire innovative ideas for the company.
Millennials aren’t attracted to paychecks or ping-pong tables—they’re drawn to simple perks that will develop them professionally and also let them have fun at work. Include these perks in your company, and you’ll be able to easily reel in top talent.