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What do millennials want from a job?
How to attract millennial talent in the company? The keys to select millennial talent.
Nowadays, different generations are coexisting at the same time in the company. Creating an attraction strategy that encompasses the needs of each one is a challenge for HR management. In this article we answer the key questions to better understand the change of the millennial generation and share the trends in recruitment to attract these profiles.
What are the characteristics of millennials?
Millennials are the generation born between 1980 and 1995, also known as generation Y. It is the demographic cohort that follows generation X and precedes generation Z.
Some data about the millennial generation:
- Nowadays the millennial generation represent 40% of the workforce
- They are said to be the most educated generation in history
- And also the most punished due to the economic crises they have experienced
- They are more familiar with the media and digital technologies
Why are millennials being referred to as the lost generation?
The 2008 crisis directly affected the first job opportunities of this generation, a crisis that lasted several years and reached a youth unemployment rate of over 55% in 2013. In 2021, when this generation was beginning to stabilize at the labor level the Covid-19 shook their jobs and left many millennials in a precarious work situation with less work opportunities.
What makes them different from other generations?
The historical work and employee opportunities context explains that they are HR used to living with job uncertainty and that they adapt easily to change.
“Organizations must be aware of the concerns and motivations of the younger employee generations if they do not want to risk losing talent in an increasingly competitive work market.” - Idoia Paz, Consulting Director of the Human Capital area of Deloitte Spain.
What can a workplace offer the millennials to attract them at this time?
At this time, a workplace that understands their needs will offer them more than just a salary in line with the market:
- This generation will strive to be part of an organization that is aligned with their life purpose.
- They yearn to be part of a workplace with a positive feel impact on the world.
In addition, we share some guide of the most in-demand employee positions below:
- Professional development
- Employee growth opportunities
- Technology resources as a tool for progress
- Engagement culture: a great place to work
- Flexibility, work-life balance and telecommuting
- Equality employee culture, diversity and inclusion
- Corporate social responsibility
- Personal brand image
- Collaborative culture
- Continuous feedback
- Wellness support program
In short, it is all about understanding the historical, social and economic context of this generation and creating a strategy guide that suits their interests.