THE MILLENNIAL WORKFORCE[ ]21 TIPS FOR IDENTIFYING + ATTRACTING

A NEW GENERATION OF TALENT

IS YOUR HIRING PROCESS MILLENNIAL-FRIENDLY?

Millennials have recently surpassed Baby Boomers as the largest segment of the workforce, and by 2020, they are projected to form 50% of the global workforce1.

As millennials are the most-studied generation today, you’ve heard it all before; from their common stereotypes, to their economic struggles, to how they behave in the job market. While some employers may misinterpret millennials’ ambition as entitlement or disloyalty, their needs are simply different than that of older generations.

However, putting a finger on those differences in order to cultivate the immense talent millennials bring to the table can be difficult. As this generation continues to enter the job market and increase their influence in the workforce, employers are finding it challenging to even get talented millennials in the door. Why? Many organizations have yet to shift gears in their hiring processes in order to better identify and attract them.

As a result, it appears that many employers continue to use an old cookie cutter on a new generation —and millennials can tell. Whether the difficulty is finding qualified candidates or getting millennials to finally accept an offer, the solution is not an easy one: companies must begin to reevaluate their definition of talent.

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THEIR UNIQUE CHALLENGES

recoveringeconomy

student loan repayment

sense ofpurpose

professionaldevelopment

THEIR GOALSINTR

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>>HIRE FOR POTENTIAL, NOT EXPERIENCE

UNEMPLOYMENT RATE: 4.3% — A 16-YEAR LOW

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While the hiring process often means finding the most experienced candidate, millennials require a new formula for finding the most talented in the job market. In this generation, those who enter the job market are equipped with more degrees and internships than any previous generation. Additionally, a healthy job market means that the most talented millennials have multiple opportunities to choose from.

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While employers are often hung up on the inexperience millennials have out of college, companies must begin to understand that for the highest-educated generation in history, it’s the soft skills that will define a leader. And for those who don’t get on board, they’ll risk losing top talent to their competitors.

Millennials may not yet be ready to walk into a leadership role, but it is crucial to recognize the potential that they have. Because of their education, enthusiasm, and willingness to learn, your ability to hire those who will make great managers down the road can secure the future of your organization in a millennial-dominated workforce. With this in mind, those who are involved in the hiring process need to understand:

Read on for 21 tips on how to recognize a talented millennial during the hiring process and how to make your organization an attractive place to work for millennial employees.

how to identify potential in millennials

how to attract the most talented millennials

IDENTIFYINGMILLENNIAL TALENT

While the youngest millennials may lack experience now, they will soon be leaders in the workforce, and the success of your company will depend on them. Therefore, identifying potential in millennial candidates rather than experience can be more beneficial in the long run. In order to find millennials with potential to grow within the organization, focus on using the interview process to identify the 4 key soft skills outlined on the following pages:

Because millennials are still new to the worforce, they may not have the desired management experience you would look for in a leader. However, there are other ways to identify an emerging leader in the hiring process.

Describe a project or idea (not necessarily your own) that was implemented primarily because of your efforts. What was your role? What was the outcome?

If they took initiative, whether they took ownership of their work, how passionate they felt about the project, if they seemed to work well with others, and if they accomplished a successful result.

If they clearly articulated their issue with their coworker, and whether they were able to resolve the problem without it escalating. If they say they’ve never had a disagreement, it may be a red flag.

Have you ever had a disagreement with a coworker? How did you resolve it?

ON THE RESUME, LOOK FOR:

IN AN INTERVIEW, ASK:

EVALUATE:EVALUATE:

IN AN INTERVIEW, ASK:

ON THE RESUME, LOOK FOR:

Trained Negotiated Advised Consulted Directed Collaborated

Because effective communication is the foundation of a productive organization, it is crucial to identify millennials who have harnessed this skill.

LEADERSHIP COMMUNICATION

Throughout the hiring process: Communication skills can be easily evaluated, from email correspondence, to following directions, and especially the candidate’s conduct during the interview. By paying close attention, this skill can be clearly identified.

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It’s one thing to know that an employee can carry out their responsibilities under normal circumstances, but you also need to feel confident in their ability to perform under pressure. While millennials may take a unique approach to their work, many of them are able to independently overcome challenges.

Can you describe a project where you ran into an unforeseen obstacle? How did you approach the situation?

How they identify challenges, think on their feet, and analyze a complex situation. If they can’t articulate their thought process or sought direction from a 3rd party, they may not be a self-starter.

If they view the mistake as a learning experience, or if they point fingers at others. If they don’t clearly take ownership, you may want to tread carefully.

Tell me about a time you made a mistake. What did you learn?

ON THE RESUME, LOOK FOR:

IN AN INTERVIEW, ASK:

EVALUATE: EVALUATE:

IN AN INTERVIEW, ASK:

ON THE RESUME, LOOK FOR:

Resolved Created Improved Authored Orchestrated Contributed

Linked to higher employee engagement and performance, personal accountability is critical to an organization’s success. Why? Employees who feel accountable for their work, take initiative, and follow through are committed to the organization’s goals.

PROBLEM SOLVING &CRITICAL THINKING ACCOUNTABILITY

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It’s not enough to find the best in the talent pool—you must also present your organization as the best place for employees to work. And for millennials, the presentation matters. This generation knows when a potential employer is being authentic or selling them a lie. Companies looking to get millennials to accept an offer must improve the elements of their hiring process outlined on the following pages:

ATTRACTING MILLENNIAL TALENT

In today’s digital culture, it is highly likely that any prospective employee will first encounter your brand online. This doesn’t simply mean browsing the website, either. In fact, half of working professionals reported spending over 30 minutes researching a company before applying and/or interviewing for a job3. Because so many professionals are taking this much time to assess an organization beforehand, your branding is crucial to attracting the most talented millennials in the job market.

WHO YOU ARE WHAT YOU DO WHY YOU’RE A GREAT PLACE TO WORK

JOB SEEKERS SHOULD BE ABLE TO EASILY IDENTIFY:

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[ ]PORTRAY A STRONG EMPLOYER BRAND

47% of millennials now say that a prospective employer’s online reputation matters as much as

the job it offers4

This means that you not only have to clearly state who you are and why a prospective employee may want to work with you, but you need to go a step further. By showcasing your company’s culture and values online, you can offer millennials further incentive to consider your organization. While the extent to which this should be done will vary by industry, these messages should be communicated across all relevant platforms, including, but not limited to:

The company website

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Career sites

Social media outlets

3rd party review sites

47%

Furthermore, millennials specifically are more trusting of an organization with positive values and a good reputation. This is because millennials—just like your company—are concerned with their own image. They do not want to be affiliated with any organization with a poor reputation, and they will not hesitate to withdraw from the hiring process if they discover that the employer has

questionable practices of any kind.

92% of consumers trust peer reviews5

Keep in mind that you are selling your organization to job seekers online, just like any business sells its products, and millennials, more than any other generation, trust customers and former employees over you. In fact, 40% of millennials said that they pay the most attention to third party review and salary websites when researching a company3.

When considering how to approach your online brand to make it more attractive to millennials, be sure that your company is accessible on every device. Millennials are a mobile-first generation. If they can’t load your website on their phone, or if they have trouble navigating a page on mobile, you may lose out on talented professionals who

know you are behind on adopting technology trends.

BRANDING TIP:MAKE IT MOBILE<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

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92%

[ ]CLOSING THE DEAL

Known as the “always connected” generation, millennials are wired for speed and expect frequent feedback. As a result, they require a very different hiring process than older generations. Here’s how to ensure that your candidate experience is in tune with millennial needs:

Since millennials are all about speed, the time it takes to make a hiring decision can greatly impact their experience. With that said, organizations that stick to a shorter timeline typically have more success when attracting millennial talent. Reducing the number of interview rounds

Having candidates meet with multiple parties in one day

Introducing top candidates to the team they’d be joining earlier on

THE CLOCK IS TICKING!Streamline your process by:

This is especially relevant in today’s gig economy, where an increasing number of millennials are pursuing temporary or project-based roles. The fast-paced nature of these positions requires quicker turnaround time.

>>>>>>>>>>MAKE FASTER DECISIONS

Growing up in a world where information is accessible at all times, this generation has been conditioned for transparency. With a desire to understand what is going on behind the scenes, not knowing where they stand in the hiring process can turn them off from a potential employer.

To effectively close the deal, however, you need to be able to meet at least some of their expectations. While something may not be the norm for your company, keeping an open mind about millennial-specific needs is a great way to show that the organization not only cares about individual employees, but is truly invested in their success.

Millennials want to feel like they are more than just a number, so personalization should be a key final step in your hiring process. Rather than simply selling the candidate on the company, this means tailoring your strategy to the individual themselves. It also requires you to really listen to what the candidate is looking for, in both an employer and their career.

83% of candidates say it would greatly improve the overall experience if employers could set expectations by providing a clear timeline of the hiring process6

Providing a timeline in the initial application stages

Setting expectations for the next step(s) after the interview

Sending email updates, even when there is no major news to report

Job title

Professional development opportunities

Performance reviews

Work-life balance

Prevent this from happening to your company by:

To demonstrate your interest in a specific candidate you’d like to hire, try to be flexible on the following elements that are important to millennials:

>>>>>>>>>>BE TRANSPARENT

GET PERSONAL<<<<<<<<<<

83%

THERE IS A 10% PRODUCTIVITY DROP WHEN AN EMPLOYEE IS UNHAPPY

[ ]EMPHASIZE COMPANY CULTURE + AUTHENTICITY

Working for an organization with a unique and attractive identity has always been important to professionals, but for millennials, it matters even more. And guess what? A company’s culture can make or break their decision to accept an offer.

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Since millennials tend to value company culture above traditional benefits and compensation, more emphasis certainly needs to be placed on it when attracting talent. However, what you are saying (and showing) has to be authentic. Not easily influenced by traditional advertising, trying to lure them in with superficial promises and flashy perks will not be effective. In other words, they need to feel they know you before they can trust you.

For employers, identifying and hiring professionals who are the right cultural fit should be a top priority as well. After all, employees who feel they fit into the company’s culture are not only more engaged and productive, but also happier in general.

Nearly 80% of millennials look for people and culture fit with employers, followed by career potential and work-life balance7

80%

You are only as strong as your team, so it’s important to ensure all prospective hires receive an accurate, well-rounded view of the company culture. Here’s how:

Have candidates meet with prospective team members

Millennials prefer a collaborative culture over a competitive one, so

the dynamics of the team they’d be joining are really important to them.

Since a unified company culture trickles down from the top, have

them meet with key leaders. Encouraging communication with leadership is a great way to give

prospective hires a more transparent introduction to the organization.

Make them excited to work for your organization by giving them the

grand tour! Show them where their potential team’s desks are, as well

as any other areas that highlight the energy of the office.

Make introductions to key leaders at the company

Give them a tour of the office

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For additional best practices on engaging with talent, visit:

The Execu|Search Group was founded in 1985 as a recruitment

firm focused on serving accounting firms, boutique hedge funds,

and private equity funds. Over time, our firm has evolved into a full-

service firm integrating a broad range of industries. We’re proud to

say that we’ve helped over 26,000 companies find talent and have

connected over 60,000 people with new jobs.

Headquartered in New York City with additional offices in New

York, New Jersey, Connecticut, Massachusetts, and Florida,

we’ve become one of the largest privately-owned recruitment,

temporary staffing, and workforce solutions firms. Today, we serve

the following practice areas:

Our resources page at:

execu-search.com/employer-resources

for helpful eBooks and infographics

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Our blog at:

blog.execu-search.com

which is full of tips and tricks for all stages

of the hiring process

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SOURCES:1. PwC

2. Reuters

3. The Execu|Search Group’s 2017 Hiring Outlook

4. Pipeline Deals

5. Nielsen Group

6. Careerbuilder

7. Harvard Business Review

8. Fast Company