How corporations need to change if they expect to attract and keep Gen Y employees
Millennials know what they want out of their careers, and they increasingly have the leverage to get it. When companies aren’t meeting these grads’ expectations, they’re simply moving on.
That may be why a recent survey from management consulting firm Accenture Strategy looked at ways for corporations to attract and keep younger talent. Its research shows six in seven 2016 graduates don’t want to work for a large company; and focuses on ways to change that.
- Informal Training: Millennials want feedback and coaching, but aren’t interested in uptight learning practices. Sixty-eight percent want to pursue on-the-job learning. Employers should provide projects that can help recent grads develop professionally.
- Social Responsibility: Millennials want to work for businesses with morals. Ninety-two percent say it’s important to work somewhere that displays social responsibility. 74 percent would work at an organization with a “positive social atmosphere,” even if it meant less pay.
- Stability: Don’t try to give these graduates the shaft with freelance gigs and zero benefits. Most (55 percent) want full-time employment, and only three percent prefer working as an independent contractor.
- Dynamic Internal Roles: That doesn’t mean the gig economy is dead, but it needs rethinking. Sixty-nine percent of those surveyed want to work for the same company for at least three years, but they’re not interested in climbing the corporate ladder for decades. Companies need to provide a working environment that allows for multiple pathways to success and the potential to shift between departments and roles.
Accenture’s research shows these changes are worthwhile and that businesses shouldn’t think they’ll attract a hoard of lazy social media addicts. Recent grads are willing to work hard. Over half (52 percent) are willing to give up their evenings and weekends. A 72 percent of recent grads would be willing to relocate or move to a different state for a promising job offer.
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