Follow these tips to keep your Gen Y staff happy and loyal. Millennials now make up the largest work force in the US, yet 53% of hiring managers find it difficult to find and retain their youngest employees. You may be surprised to learn it’s not necessarily the big bucks millennials are after. Attracting these tech-savvy, ambitious team players comes down to understanding their values. Here’s how to find the best and brightest among this growing pool of talent. Champion work-life integration Millennials value flexibility in their lives. Connected to their devices around the clock, they prefer a more fluid work day and the freedom to work remotely. Companies that offer telecommuting, flexible hours and fun perks (like a paid day off on a birthday) will appeal to these young workers. Trusting your ‘Gen Y’ staff to be productive on their own schedule, while being clear about expected outcomes within a specific time frame, is a sure fire way to earn their loyalty. Offer professional development A workplace that promotes opportunities to develop new skills and advancement through training and mentorship is very appealing to Generation Y because they are interested in their next career move. Consider assigning younger workers leadership opportunities. Pair them up on a project with a more experienced mentor. Trusting your staff with greater responsibility will demonstrate that you value each team member’s contributions and ongoing career development—and can lead to greater innovation. Show your business is making a difference A recent survey revealed that 50% of millennials accepted a job offer based on the company’s involvement in various causes. It’s important for this group to feel a sense of purpose when it comes to their careers—they want to know their employer is making a positive impact on the world and not simply pursuing a profit. So talk about your company mission and core values on your website. When interviewing potential employees, give concrete examples of how your business contributes to social or environmental causes. Also invite input from your team on how to be more effective with company fundraising or volunteer activities. Then take action, setting aside time during the work day to make progress on your charitable initiatives as a team. Other tips Ask a potential employee in an interview what their dream work culture looks like. You’ll get meaningful insight into your new hire and some good ideas on how to retain younger staff. Try Sage Payroll Services to simplify compensation and benefits processes, so you can focus on leading your team and growing your business.
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