How to Attract, Hire and Retain Millennials

By: Tim Augustine

Key characteristics that need to be understood in order to attract, hire and retain this group of very productive, task oriented, multitasking, and technically astute green horns.

After years of hiring and working with this generation, I have heard many colorful statements that describe Millennials. "They have no work ethic?" "They have an entitlement expectation?" "They are not loyal and don't understand the need to earn their stripes and put in the time."

I am sure all of us have thought this and even uttered those words when referring to this next generation workforce coined as the Millennial Generation (also known as Generation Y or Net Generation) born between 1977 to 1998. However, I think this generation is just different than past generations we've hired. In order for you to successfully attract, hire and retain Millennials, you need to take into account a number of factors that have influenced this generation.

Who are they?

First, do not confuse Generation X with Millennials. Gen X'ers, often called Latch-key kids, experienced divorce, working moms and a high degree of corporate layoffs. They are very independent, lack corporate trust and focus on their careers and their employability as priority one. Today's Millennials are not the same generation. The factors that created the skeptical, entitlement issues and self-centeredness of Gen Xers changed ever so slightly to produce a drastically different type of employee.

Millennial's are very social and experienced a very child-focused upbringing with constant attention from parents who convinced them that they could do anything, be anything -- and, at the same time, enjoy life. These parents often are referred to as "Helicopter Parents" due to their constant hovering over their kids. These parents provided a structured upbringing with organized soccer from age 5, traveling sports teams and constant exposure to technology such as computers, cell phones and video games.

Due to this structured life, Millennials have the ability to multitask, thrive in team environments and maintain a high degree of technical expertise. This generation gets bored with single tasks and is very loyal to mentors and teams. They have grown to expect diversity in the workplace, corporate philanthropy and constant access to learning tools and resources.

They view a job as a means to earn money to have fun in their free time. Time is currency, not to be wasted, and they demand a work-life balance and paid time-off. Political face time and earning their stripes for future promotions is not a critical trait that this generation uses to get ahead. They have grown in a world where nothing is guaranteed. They have experienced school shootings, terrorist attacks, war, and corporate ethical violations. It is important to understand these traits if you want to be successful in growing your next generation of leaders.

How do I attract this generation?

Company culture is a key aspect of Millennials' job-search criteria. They want to know how they fit in to your culture and team, and want to understand the social purpose of the firm for which they decide to work.

The internal recruiter is a key influencer to drive their interest in your firm, and they utilize their network of peers to provide critical information about your firm's reputation and work environment. Make sure you deploy the best cultural representatives to the colleges to recruit these individuals and arm these representatives with information, such as detailed position descriptions that include tasks, activities and expectations; benefit information, such as paid time-off and training opportunities; and social offerings that your company uses to build camaraderie, such as company-sponsored sports teams, interaction with key leadership and teambuilding activities. In addition, leverage multimedia recruitment tools such as DVDs, MP3s and the Internet to communicate your firm's personality, work environment and career opportunities.

How do I retain this generation?

This generation wants to know that you care about its success and career development. Keep in mind, that this generation has experienced immediate gratification from its parents, video games and even college, with the use of new testing technologies, etc. Make sure your firm maintains a structured feedback process, and your managers provide constant and immediate feedback and communication. Your managers must understand what drives this group and approach each task with detailed expectations, goals and measurements to communicate small wins and accomplishments. If your managers meet Millennials where they are, they will achieve your overall goals; try to force them to fit your definitions, and you will lose them.

According to a 2006 SHRM study, 75 percent of executives surveyed rank Millennials' professionalism, work ethic, creativity and innovation as "Adequate." Due to the fact that this generation, more than any other, is in constant communication with its peers through instant messaging and social events, its exposure to business mentors, etc., might be limited. Therefore, basic business skills might need to be addressed, such as business writing, etiquette and professionalism. However, if managed correctly and exposed to training, this generation is innovative and creative.

Millennials grew up on technology including heavy doses of computers, cell phones and the Internet. Leveraging technology such as an intranet, employee self-service human resources information systems and various tools, such as PDAs and laptops, will help to increase their productivity.

This generation wants to feel connected both to its teams and the firm, and wants to make an impact. Develop and implement programs that reward team and individual success, such as performance-based compensation, profit-based bonuses and immediate spot bonuses. Provide an opportunity for team building and community involvement including philanthropic causes, and social networking with team members and industry peers.

Most importantly, to retain Millennials, your managers and team members need to accept that this generation is different than other generations in the past. Different does not have to be bad. This generation has the ability to take your firm to the next level through its ability to multitask and its understanding of technology. In order to compete in this global economy, we, as hiring managers, need to further understand the drivers of this generation and develop programs to address its unique needs and perspectives, if we want to develop our next generation of successful employees.