This goes beyond fair compensation!
Millennials- The new gen doesn’t go by the traditional norms at all. For anything and everything, the first thing they turn up to is the Internet. So, even before they appear for an interview they will check the website, google reviews, scan social media channels, glassdoor etc. But they don’t solely rely on online sources. They trust a mix of offline and online sources.
Thus, apart from internet, they also take advice of friends, and family.
They research extensively and this clearly shows how concerned they are about the organisation they are thinking of beginning their careers with. Yes, they don’t have the experience with them but you cannot consider it as a con. They are a pool of young brains filled with new ideas, untouched by the traditional ways of getting the job done.
So, if you want to make use of the young brain power optimally, here are some of the excerpts from the Nielsen study alongwith our recommendations.
- Growth and advancement opportunities- According to the Nielsen survey, apart from the salary benefits 44% of this generation seeks the opportunity to learn and grow more than anything else. This sets the foundation of their career, so they want to join an organisation that can enhance their existing skills and make them realise their hidden talent alongwith new learnings. They also want to see a career path for a long-term association with the organisation.
- Work- life balance- 43% consider work-life balance as an important factor. The generation is more like the ones that believe in work smart and party hard. They are quite impulsive, outspoken and social. As much as they want to perform well at work, they also want to enjoy their personal life. For instance, they are more likely to opt a company that is 5 days working.
- Fair and right treatment– 41% say they will take employee treatment into consideration before joining a company. This may be because millennials are more apprehensive of the way they will be treated more because its their first job. We recommend you to bring in the notice of such candidates to use a performance appraisal software. This will reassure them of the warm and welcoming culture of your organisation.
- Sense of making a difference-30% say they want to know the bigger picture as to how their contribution is helping the organisation.
Other factors that impact the choice of the future talent are-
- 77% said that they will love to work for an organisation that contributes to a positive and social environment impact.
- 48% said they will prefer an MNC, 22% are open to a company’s footprint, and 28% said that they will prefer domestic companies.
- The decision of this generation to join a company is more likely to be influenced by discussion with friends, family and colleagues (34%), the website of the company (32%), discussions with the existing employees of the company (29%), company career sites (26%) and search engines (26%).
The main motto of the young generation is to stay proactive in their organisation, let their ideas spur and speak their hearts and minds out. In search of an environment like so, they become extremely vigilant of the first organisation they join. Hence, company reputation, work culture and perks play an important role. Do you have what it takes to attract a young worthful resource to your place? Make a checklist of what you have and what you don’t have. Thereafter, work upon things that need improvement and get ready to charm the best pool of fresh talent to your company.