To attract and retain top talent in the workplace, employers must ensure they have strategies in place to cater to the needs of the millennials and Gen-Zs who are flooding into the workforce.
There is no doubt that this generation is bucking stereotypes at every opportunity. Despite being ungenerously characterised as lazy or entitled, millennials and Gen-Zs are providing to be just the opposite. And contrary to popular belief, they do not necessarily require "fun" perks such as ping pong tables and in-office beer kegs in order to attract them. Millennials and early Gen-Zs tend to be practical when determining which benefits they prefer.
They value job satisfaction more than previous generations, and if they're not satisfied with their current employers, they will almost certainly seek out more advantageous employment opportunities. Employers who want to attract and retain millennials and Gen-Zs in the future will need to consider how they will be able to provide their employees with the job satisfaction they desire.
Good work-life balance
The overall well-being of an employee has changed significantly over the past 20 years. A healthy work-life balance allows employees to have lowered stress levels and ensures a higher level of productivity. It is especially important for millennials and early Generation Zs, as they want to enjoy their lives outside of work and not be burdened with the issues during their own private time.
But what are the best practices for achieving a healthy work-life balance? Let's start with the basics – avoid texting or calling your employees outside of working hours, and respect their personal lives. Nobody wants to sit down to enjoy a relaxing evening only to be interrupted by an issue that could be dealt with the following morning.
Another way to encourage a positive work-life balance is by providing employees with work from home days, flexible leave policies, and telecommuting benefits. These options make employees feel that they don't have to choose between work and their personal life. You will cement your status as an employer that is millennial-friendly and will attract younger talent if you measure employee productivity rather than their office attendance.
Healthier employees are happier employees, and happier employees are more productive. Millennials and early members of Gen-Z are among the most health-conscious generations. For this reason, wellness programs can be very effective for attracting them.
Just a few examples of popular lifestyle perks include offering discounts on local gym memberships, allowing and encouraging pets in the workplace, or enforcing a casual or “dress or the day” dress code.
Millennials and early members of Generation Z value opportunities for professional development, and they actively seek out employers who offer such opportunities. Education assistance programs are a great way for employers to satisfy that need and attract that top, eager to learn talent, who will bring value to the organisation for many years. Education and professional development are also excellent pay-it-forward strategies for your company, that help your team reach its full potential.
With professional development, there should also be a clear path for advancement within the company. Millennials and Gen-Zs want to progress in their career and will be attracted to companies who will offer a clear path to do so.
PTO volunteering opportunities
In comparison with previous generations, millennials and the early Gen-Zs are much more socially conscious - they are more inclined to practice and promote philanthropy. PTO (paid time off) for community service or charity days is a practical strategy employers can use, to build the kind of socially responsible and constructive culture that will appeal to that top talent.
If you plan and implement more modern strategies, you can build a culture that will benefit both the talent you're wanting to attract and your bottom line in the long run. Get additional advice when it comes to attracting, recruiting, and retaining the younger workforce by contacting our team today.