The Millennial generation can be a bit baffling to small-business owners. After all, why would you want to hire a bunch of overconfident job-hoppers who are addicted to social media?
Employers can’t be faulted for being a little leery of younger workers: About 90 percent of employees born after 1980 say they don’t want to stay in a job for more than three years. Half are thinking about going back to school rather than continue looking for a job. Many live with their parents so their income requirements are low and thus they can be choosy about any job they do decide to take.
At the same time, these younger workers are also dynamic, creative, and entrepreneurial. And they’ll make up much of the U.S. workforce in the next decade. As an employer, you will need to be able to recruit and manage Millennials in order to thrive.
A new infographic from Intuit provides some insight into these young workers’ needs — and what kind of employees they are. Here are four key points that will help you attract Millennials:
1. They rely on social media for company information. Millennials love social media, yet they are the least likely of potential employees to visit your company’s website. Use Facebook or Twitter to reach out to younger job candidates.
2. They want to know what your company offers them. Millennials overwhelmingly seek a fun, social working environment with plenty of “me time.” They also believe they should set their own hours, dress casually, and be valued for their creativity. Perhaps this is why the majority of Generation Y works for companies with fewer than 100 employees
They prefer major cities. Tech-centric Seattle and Boston have workforces composed of about 25 percent Millennials. Economically diverse Minneapolis, politically driven Washington, D.C., and oil-rich Houston are also places where Gen Y seems to be thriving. The average median pay for younger workers in those regions is about $45,000 a year.
4. You need to hire them soon. In less than two years, Millennials will account for more than a third of the workforce. By 2020, they will make up almost half. By understanding their needs now, you can adjust your recruiting and hiring methods to take advantage of their strengths.
For a complete look at the data, check out the full infographic from Intuit by clicking the image below.