How to recruit and retain millennialsPosted on: April 11, 2019
by Ruth Brooks
With a third of the workforce set to be comprised of millennials by the end of next year, it’s vital Human Resources (HR) departments adapt both their recruitment programmes and retention strategies. Whilst some more traditional HR roles create distance between themselves and employees, this can lead to employees feeling alienated and believing HR has no true investment in them after recruitment. So, what measures should HR professionals take to millennial-proof their company?
Perhaps the greatest challenge facing HR is recruiting and retaining talent. Recent statistics from Entelo Recruitment Software showed HR professionals spend a third of their week sourcing candidates for an individual role, negatively impacting their business’s existing employee and candidate experiences. Automating recruiting strategies allows HR to focus more on the people and less on the process. Last year, two recruiting platforms, SmartRecruiters and Ideal used AI technology to automate hiring processess, increasing recruiter productivity almost four-fold, reducing cost-per-hires by 71% and tripling the number of qualified candidates.
Promote new ways of working
Millennials bring new ways of working and if companies want to remain competitive, they must adapt to the needs of this new tech-dependent generation. Many demand a work-life balance and are used to being constantly connected, so offering flexible options can help you both attract and retain them. HR should take the lead in promoting a professional environment whereby employees can work from home, choose flexible working hours, and should highlight and champion the importance of reliable and updated tech and equipment.
Develop a millennial culture
Creating a culture starts with leaders, and millennials often want a boss that can mentor them. They may also want to work in a collaborative environment that allows employees to bring different ideas to the table. And social responsibility is important too; millennials tend to be attracted to companies that give back. To retain top talent HR must help break down hierarchies and develop a millennial-friendly culture by opening lines of communication. This should strengthen the manager and employee relationship while helping both to improve on a professional and personal level by giving both an insight into different ways of working and improving softer skills like communication. Employee engagement has been a buzzword for a number of years now, but as more and more millennials enter the workplace, it’s importance is increased, with an increased need for HR to focus on building and nurturing relationships and a company culture.,
Invest in personal growth
While the traditional working relationship often prioritises overall company benefit over employees’ needs, millennials are demanding that companies invest in and value their personal growth, or face losing them. With over half of millennials saying that career progression was the most important thing when choosing an employer, to retain talent companies must constantly provide opportunities for them to continue their development. Technology provides an opportunity to deliver interactive programmes and e-learning solutions easily and effectively with little cost, while transparent reward and incentive programmes will also help to keep workers engaged and happy.
In short, with employers relying on millennial talent for decades to come, HR must provide attractive reasons for them to stay; plenty of work-life integration, a collective approach and the opportunity to continue developing their skills and careers.
With a focus on the key skills required of successful HR professionals, Wrexham University’s online MBA Human Resource Management (HRM) degree provides the opportunity to fast-track your career by developing key business skills and gaining a deeper understanding of the human resource management discipline. Focusing on talent development, reward management, resourcing and strategic HR frameworks, it also covers key business disciplines including finance, strategy and marketing, developing practical and theoretical business leadership skills.
All of the course material is delivered online which makes this MBA perfect for those who need to fit study in around work – and you can apply what you learn to your current role. There’s six start dates throughout the year to choose from, so you can begin studying sooner rather than later. There’s also the option to pay per module, and you may even be entitled to a UK government-backed postgraduate loan covering the full cost of the course.
Applications are now open. To learn more or to apply, visit https://online.wrexham.ac.uk/mba-hrm/