Leadership

Your company needs them, so learn how to attract them

A woman walks on the esplanade of La Defense, in the financial and business district in La Defense, west of Paris, April 10, 2014.   REUTERS/Gonzalo Fuentes (FRANCE - Tags: BUSINESS) - RTR3KUF7

Exploring strategies to attract and retain millennial employees. Image: REUTERS/Gonzalo Fuentes (FRANCE - Tags: BUSINESS) - RTR3KUF7

You have to collaborate, not condescend.

As business leaders, we need to understand and appreciate our newest generations in order to attract and retain them. My daughter is a millennial. Recently I asked her when she uses email, and she stated matter-of-factly: when she has to talk to old people. Keeping this in mind, I’ve found these strategies to be especially useful when working to attract and retain millennial employees:

Offer diverse opportunities

If you want to employ millennials, you need to be prepared for a rapidly changing workforce that requires flexibility and demands new experiences. There a few ways that companies are integrating approaches that recognize these needs.

For more junior employees who are first entering the workforce, you can offer temporary rotations with different departments. You can also put practices in place that allow employees to apply for different jobs within the organization when they become available. Another smart approach is to create opportunities and encourage employees to build or join strategic committees within the company. This can offer the flexibility millennials want to help build a diverse resume.

Invite collaboration

We recently rebranded and crafted a new statement of purpose: to build meaningful connections to help our clients’ businesses run smarter. Collaboration with all of our employees—especially millennials—was important to shaping this statement.

To ensure teammate voices from all generations were heard, we worked hard to make sure we solicited millennial input just as much as we did from those who have been with us for longer. We also specifically worked to gather feedback from millennials by conducting video interviews, so that their language and thoughts would be effectively conveyed in the end result. Since millennials make up a majority of our workforce, it was important that they were part of this process.

Once millennials have an interest in what your company does, they start to research your core values and purpose. They visit your social media sites, make their way to your press room, and look at your community efforts. In fact, according to a Cone Communications study, 82% of millennials ages 18–24 and 75% ages 25–34 consider corporate social responsibility efforts when deciding where to work.

If your company’s actions and core values don’t resonate with millennials, it’s not going to be a good fit. Unlike workers from my generation, millennials will actually take a job making less money if they believe in the purpose of their work. Inviting millennials into the planning process and soliciting their feedback ensures that everything from your purpose statement to your corporate social responsibility initiatives will resonate with them.

Loading...

Amplify their voices

By challenging organizations to innovate and evolve, millennials have been impressive change agents who are pushing companies to create better workplace practices to meet current and future talent needs. Embrace their passion for change as a way to drive transformation in your business and your culture.

For example, we offer teammates the opportunity to help shape our company with our Shark Tank initiative, which has been successful in offering both professional development and workplace innovation at the company. Insight employees across the company have the opportunity to pitch the executive team, including me, on how to improve the workplace. One millennial got to lead the replacement of our intranet platform; another won for suggesting the idea that teammates could purchase an extra week of time off.

So what does this all mean? If millennials have a sense of ownership, enjoy the projects that they are working on, are offered opportunities to try new things, and are seen as instrumental in creating the culture of the company, they will want to remain with your organization for a longer period of time. Beyond loyalty and longevity, you will likely unearth some great talent—and they may very well become your best employees.

Don't miss any update on this topic

Create a free account and access your personalized content collection with our latest publications and analyses.

Sign up for free

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

Stay up to date:

Future of Work

Related topics:
LeadershipJobs and the Future of Work
Share:
The Big Picture
Explore and monitor how Future of Work is affecting economies, industries and global issues
A hand holding a looking glass by a lake
Crowdsource Innovation
Get involved with our crowdsourced digital platform to deliver impact at scale
World Economic Forum logo
Global Agenda

The Agenda Weekly

A weekly update of the most important issues driving the global agenda

Subscribe today

You can unsubscribe at any time using the link in our emails. For more details, review our privacy policy.

More on Leadership
See all

Be vulnerable and know yourself better: 7 leaders on the advice they're grateful for

Charlotte Edmond

November 27, 2024

How city governments can foster tech-sector growth without breaking the bank

About us

Engage with us

  • Sign in
  • Partner with us
  • Become a member
  • Sign up for our press releases
  • Subscribe to our newsletters
  • Contact us

Quick links

Language editions

Privacy Policy & Terms of Service

Sitemap

© 2024 World Economic Forum