And how, as employers and business owners, can we reach, target and engage with groups of millennials?
There are many different definitions of ‘millennials', which perhaps adds to the confusion surrounding this cohort; "A term used to refer to the generation, born from 1980 onward, brought up using digital technology and mass media; the children of Baby Boomers; also called Generation Y"(1)"The Millennial generation (born between 1982 and2003) is characterized by Strauss and Howe (1991) as being protected, by both their parents and society, because they are driven to improve the world around them, by their virtue."(2)And, my personal favourite; "Special little snowflake.
Born between 1982 and 1994 this generation is something special, cause Mom and Dad and their 5th grade teacher Mrs. Winotsky told them so. Plus they have a whole shelf of participation trophies sitting at home so it has to be true."(3)
So now that we've (sort of) figured out who they are and the factors differentiating them from their previous generations, let's have a look at how they perceive their future in the world they're growing up in.
Most millennials will be heading towards the end of their education or are already in the working world and, luckily enough, Milkround (the UK's leading school leaver, student and graduate job board) has a chatty community that encompasses the various definitions of ‘millennials'. So we put our questions to over 1,100 individuals, looking at some common misconceptions around this generation of young workers and asking for their perspective on themes such as professionalism in the workplace, home ownership, employer loyalty, and their close relationship with social media. In this article, I will delve into each of these topics, taking a stab about how we, as employers and business owners, can use this information to more effectively engage, recruit and retain millennial talent within our businesses. The majority of respondents (57%) were between the ages of 20-25, and most (60%) are at their final stages of university, with 17% already working.
Topic number 1: The world of work
While the generations before them have been known to enjoy sometimes life-long careers in the same company, steadily climbing the career ladder, millennials are often accused of changing jobs at a fast rate. We asked our respondents how many different jobs they believe a person should have in their lifetime, and the general consensus was a conservative 4-6 jobs (53%) followed by the higher 7-10 jobs (26%). More than four fifths of our millennials (at 85%) think employees should be loyal towards the company they work for.
A positive response from a question we assumed would be very different! It's important for employers to understand that the younger generation are looking to stay loyal to their organisation, however will need the pull to stay there. An employee will not stay in a role if there is no opportunity for development, no training, no ‘outside your remit' opportunities, so ensure these factors are made clear during your recruitment drive.
Topic number two: Social Media
Social media is used extensively both by the public and corporations, and it's having a growing impact on the way we perceive company brands and the way we look for jobs. We asked our respondents whether they believed social media can help or harm their career and most (78%) answered both.
However, many more were of the opinion that social media can help their career rather than harm it (14% and 4% respectively). Some reasoning behind this was that social media is good for networking, self-branding, and finding job opportunities. Some cons were hindering productivity, portraying a negative view of yourself, and the danger of becoming addicted to social media. Use social media to attract the right talent. Being active on popular platforms, such as Facebook and Twitter, is crucial for brand building and consumer correspondence. Top tip: ‘behind the scenes' or ‘a day in the office' posts are an engaging way to show potential candidates the role types and culture in your business.
Topic number 3: Personal Life
Finally we wanted to get a look into the private lives and ambitions of millennials. How do they view marriage? Are they looking to become property owners? The millennials are known as being ambitious and generally putting a career before settling down. However most of our respondents (65%) believe that romantic relationships and their future career are equally important. In addition, an overwhelming majority at 96% are hoping to own their own home at some point in the future. Half are planning for this to occur when they are between 26-30 years old. Just over a quarter (28%) are hoping to be property owners between 31-35 years old and 15% are shooting for the young age of 20-25 years old. These findings show that work-life balance is important to candidates. In the roles you offer, ensure expectations are clearly stated. It would even be useful to mention any ‘extracurricular' activities your organisation puts on, for example monthly socials, yearly events- anything that makes your business stand out.
The findings of the first ever Milkround ‘Inside the Minds of Millennials' research shed some light on the challenges the future workers are facing, such as home ownership, social media impact, and career development. It also gives us an insight on how to approach millennials and ensure that they are getting the support they need to successfully enter the workplace. Changes in technology and social conduct mean that the workplace may look very different by the time the millennials have taken their place as the majority of the UK workforce. This report shows that due to millennials being ‘digital natives', the line between their personal and professional selves is getting increasingly blurred. It's important for employers to stay present on the channels Millennials are using, and offering not just a ‘job role' but a balanced, opportunity led career.
If you want to find out any more information about our research, or about how Milkround
can help you to recruit your early careers talent, get in touch with us today!
E: Info@milkround.com
T: 020 3003 4000
(1)Millennial generation. (n.d.). Dictionary.com's 21st Century Lexicon. Retrieved August 7, 2016 from Dictionary.com website http://www.dictionary.com/browse/millennial-generation
(2)Advising the Millennial Generation, Sarah Keeling, University of South Carolina Aiken, NACADA Journal Volume 23 (1 & 2) Spring & Fall 2003,
http://depts.washington.edu/apac/roundtable/12-05-05_millenial_generatio...
(3)By The Witter on Urban Dictionary, 14th July 2010.
