Today I am happy to introduce a guest blogger. Chris Butsch is a Millennial Happiness Expert, speaker and the author of the upcoming book The Millennials Guide to Making Happiness.
Millennials now outnumber Gen Xers and Boomers in the workplace, and with the improving economy, they have unprecedented choosiness in who they’d like to work for. And make no mistake, Millennials like to shop around. The average job tenure in 2014 was around 4.5 years, the lowest since the 1970s. For Millennials, it’s less than half that. And as the Boomers and Xers retire, a company’s survival will depend on its ability to attract America’s next working generation.
While interviewing dozens of young professionals for my upcoming book The Millennial’s Guide to Making Happiness, I took the time to understand why they love their current employers, or what they’re looking for in their next venture. What’s the #1 most-desired perk? What are the red flags? Around 65 percent of employers report struggling to hire and retain Millennial talent, so here are 4 ways to join the 35 percent.
1) Have a Clear Purpose and Mission Statement
As children of the digital age, we Millennials are obsessed with Impression Management. Our jobs become part of our identity, so we’re naturally attracted to companies with missions we can get behind. Ninety-five percent of us say a company’s reputation matters strongly to us, so it’s unlikely we’ll work for a company whose Google search reveals images of Communism on the first page, like Comcast.
Having a clear, concise mission statement not only helps Millennials understand your company’s goals, it gets us excited to help you. Ensure your mission statement is broadcasted everywhere, not just your website. Which brings us to tip #2.
2) Know Where Millennials Are Looking Online, and Be There
While Millennials spend less time researching each employer (12.4 hours compared to the 25.9 older generations spend), we tend to look in more places and for different things. Most companies have online information ready for the scrutinizing Boomer (i.e. health plan and 401k), but few are truly prepared for the investigative Millennial.
We’ll go to Facebook, Twitter, and Instagram to see if you’re there, and if you are, what kind of content you post. These platforms are a way for companies to show off their work culture, and companies who post a couple of times a week content like updates, employee praise, or helpful articles, win Millennials. For good accounts to model after, visit the Facebook pages of The Nashville Entrepreneur Center and Carvana.
Millennials will also see what former employees are saying about you, and our forum of choice is Glassdoor. We make up just over a third of the workforce, yet account for nearly half of Glassdoor’s traffic. We’re reading and writing thousands of reviews for each other, and Millennials considering one company as an employer are sure to come across this one:
Good reviews on Glassdoor are crucial to recruiting Millennials.
When I interviewed for my first job at Epic Health Systems as a Project Manager, I felt nervous about the alarming number of Glassdoor reviews citing poor work-life balance. I actually printed some off and showed them to my interviewers to ask their honest opinions, which they graciously offered. I got the job, but had Epic scored lower than a 2.5 on Glassdoor, I honestly wouldn’t have flown up for the interview.
If your company has no Glassdoor reviews, consider reaching out to former employers who are likely to leave you positive words.
3) Update Your Technology
Millennials live on the cutting edge, constantly optimizing our lives with apps, trackers and gadgets. We’re the most likely to order an Uber on a SmartWatch and get excited when a wall socket has a USB outlet.
“Millennials don’t think of technology as an extra,” writes Art Papas in Forbes. “They expect to be able to use it in all aspects of their lives.” As such, we love employers who also keep up. Productivity software, the latest Microsoft Office, and fast internet beckon tech-savvy Millennials, while aging beige monitors and fax machines make us question the company’s forward momentum. But above all, Millennials love laptops at work because they often come paired with another item on our workplace wish-list: flexibility.
4) Pay in Dollars and Freedom
On average, Millennials get married seven years later than our parents did in the ‘70s. We place huge value on international travel, and are the least likely to own a car or a house. Surely part of our changing mindset is due to our tepid economic predicament, but mostly we wait to “settle down” because we value our freedom.
According to Fast Company, Millennials place more emphasis on work-life balance than other working generations, and Bentley University found that 77 percent of Millennials believe flexible work schedules boost our productivity. We’re not asking to work less; rather, we just want to get more done in the same time or the same done in less time.
And according to Ellen Ernst Kossek, author of CEO of Me: Creating a Life that Works in the Flexible Job Age, we might be right. “Research shows that employees are healthier, experience less stress, and are more productive and engaged when they effectively make choices about how, where and when they work.” Which explains why more Millennials look at the 9-to-5 and ask: why?
As for vacation, my friend from Switzerland once asked me, “How much vacation do you have?” When I told her 10 days, she balked. “Only 10 days left? Wow, where all have you been traveling this year?” Thanks to globalization, more and more Millennials are picking up on our country’s deplorable standards for time off. And since we highly value freedom and travel, we’ll work hard for companies with forward-thinking strategies.
Virgin, Best Buy, and Netflix offer unlimited vacation time, while startup powerhouse Evernote offers a bonus to employees who take at least an entire week off. While these policies sacrifice in-office time, they boost retention and employee happiness, creating a clear return on investment. Research shows that prolonged work-a-thons atrophy our productivity and ability to cope with stress, so Millennials especially are more likely to burn out of jobs that don’t provide adequate time off.
Plus, affording your employees more vacation time and flexible work hours creates a quieter office, so you’ll kill two birds with one stone.