Strategies to attract and engage professionals from generations Y and Z.

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As leaders in all industries look to introduce new generations of professionals to the workforce, they are discovering that this is no easy task. By 2019, while Generation Y, or Millennials, (born between 1981 and 1996) and Generation Z (born after 1997) are estimated to represent more than 60% of the total population, many companies are not effectively prepared to recruit. and engage these two generations.

According to a recent study by Allegis, 69% believe their organizations struggle to provide the incentives that matter most to millennials, such as: autonomy to innovate, mentoring, accelerated career paths, flexible hours, and on-site wellness programs. of work. When asked about engagement, 71% believe that outdated work practices, unclear career paths, limited advancement, difficulty in developing skills or lack of guidance would result in these employees leaving the organization.

What engages Generations Y and Z?

The fact is, talent recruitment has changed to reflect the priorities of new generations of workers. A new, tech-savvy generation seeking more purpose-driven jobs with flexibility in where and how they work is forcing employers to create an attractive environment for them.

As digital natives who grew up in an always-connected world, Millennials want to engage in work that engages their minds and provides purpose. In short, it takes much more than a paycheck to attract and retain this new generation of workers. It requires today's organizations to understand what motivates the millennial worker, changing their own mindset in the process.

How should companies act?

During the CEO Insights Exchange, sponsored by Grant Thornton, attendees agreed that reviewing their recruitment and retention strategies is especially important as they face competition from top talent from larger companies and small start-ups. It is common for job seekers to be attracted to the status and stability of employment at large companies or favor the entrepreneurial mindset and benefits of start-up companies.

Some companies are discovering that the challenge is not just attracting millennial talent, but retaining them once they find them. Here are 12 considerations for CEOs looking to overhaul their strategies for recruiting and engaging new-generation talent:

1) Provide meaningful work

Millennials and Gen Z are interested in doing work that makes an impact on the world, so it's important to provide context for your roles. Make sure they understand how their efforts are contributing to the company's goals and the greater good.

2) Design a career plan

Focusing on professional development opportunities is critical to attracting and keeping new generations engaged. They want to be challenged, nurtured and encouraged to rise professionally, and by investing in their talents and growth, you are communicating that you are looking for someone to grow with the company. The career path should provide learning along two tracks: the first to improve your ability to play your current role and the second to start preparing you for the next one. He should set milestones every six months to show progression and articulate what his career would look like in 3, 4, or more than five years.

3) Make time for feedback

Reverse mentoring is valuable as it allows top millennium leaders to share their technology knowledge and insights with experienced leaders. Millennials typically enjoy working with others and performing well on teams, but they seek feedback to cultivate their leadership skills, whether it's leading a project or an activity. Instead of waiting for an annual review, provide real-time feedback.

4) Focus on innovation

Approximately 54% of Millennials would like to start their own business (or already have one), and 78% of Millennials cite a company's innovation as a crucial factor in deciding whether to work there. One way to satisfy your need for innovation is to develop an in-house entrepreneurship program where motivated employees can focus on solving problems within a company, including researching new business opportunities or running an incubator company. Alternatively, organizations can sponsor competitions that allow teams of employees to come up with new ideas to contribute to the company's growth.

5) Demonstrate social responsibility

Millennials tend to have a strong sense of responsibility and are attracted to employers who contribute to the community in a positive way. In fact, research shows that most new workers would take a pay cut to work for a socially responsible company. However, only about 16% of companies consider corporate social responsibility a key factor in the employer value proposition.

6) Consider supporting the lifestyle

When considering additional employee benefits, think about lifestyle support. This can include student loan repayment programs, financial assistance, family benefits, and fitness discounts. Companies that offer these benefits will attract and engage the best talent and avoid significant turnover costs.

7) Offer flexible working hours

A growing number of Millennials value flexible working hours as much as a desirable salary. In fact, 70% of Millennials have quit or considered leaving a job because they didn't offer flexible work options, according to data from FlexJobs. Both Millennials and GenZs grew up with smartphones and hyper-connectivity, so they know that a lot of work can be done from anywhere with an Internet connection.

8) Create a space of trust

Providing flexible hours and telecommunication opportunities can help make your business more attractive. It can also mean offering alternative work plans, using solutions like Skype, rather than requiring employees to travel daily. "There's a big problem where older generations feel they need to see Millennials in their offices. They fear that their employees aren't working when they can't see them, which characterizes a lack of trust," explained Erica O'Malley. , managing partner of Organizational Strategy at Grant Thornton.

9) Tell a consistent brand story

New generations have great skills in researching potential employers on all channels - social media, blogs, websites. Make sure you're communicating your brand story consistently across all channels and in a distinctive and inspiring way.

10) Keep up to date

Millennials want to work with the latest technology that is intuitive to use and easy to learn. How do your technology tools compare to your competitors? When selecting tools, choose options that connect to the cloud so work can be done on any device.

Leaders who understand what drives Generations Y and Z will be better positioned to recruit, develop and engage the best talent in today's workforce. By offering them meaningful work, career development, flexibility and work-life balance, today's organizations can increase their growth potential.