4 Ways SMBs Can Attract and Retain Millennial Talent

There’s no question that Millennial employees are in high demand; however, many businesses have yet to master the art of attracting and retaining Millennial talent.


If your business is struggling to win over Millennials, here are four things that this coveted generation wants from an employer:


1. A work environment that offers flexibility. 

What the Millennial generation (born between 1980 and 2000) holds near and dear to their heart is the desire for a good work/life balance and flexibility. Generally speaking, happiness matters more to this generation than money.


A recent report from PwC reveals that Millennials are reshaping the business environment by preferring an open workspace that encourages creativity. 


While Millennials can stick to a deadline, they want the flexibility to work in an environment where they can be most productive, whether this is at the office or at the local coffee shop.


2. Opportunities for personal and professional development. 

According to the same PwC report, the top priority for Millennials is training and development, which they rank ahead of a flexible work schedule and money.


The reason why Millennials place so much emphasis on training and development is that they want to be prepared to take on more challenging work. Millennials want (and expect) to advance quickly. If they don’t feel that they’re being trained for the next step in their careers, Millennials will change companies. This is why the average tenure for Millennial employees is two years, which is significantly lower than older generations. 


3. Managers that also mentor and coach.

While Millennials don’t want to be micromanaged, they also don’t want a manager that leaves them alone. Instead, they want a manager that offers the right balance and serves as a coach or mentor.


More than other generations, Millennials crave feedback and expect it more often than just at the annual review. Creating a culture that offers feedback regularly and acknowledges employees for their contributions will go a long way with Millennials.


4. Offers tangible advancement.

Millennials want to be challenged, and they want to advance with a promotion when they’ve met the challenge. If they don’t feel that their accomplishments at work are leading to better opportunities, Millennials will go elsewhere.


Companies that make these four areas part of their workplace environment and culture will do well attracting and retaining the Millennial generation.


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