Tech companies have always had a need for young blood. After all, technology moves very quickly; younger employees tend to be well-versed on new technologies and new standards. Nevertheless, many companies have found it difficult to both attract and keep millennial employees. Here’s the scoop.
Millennials Aren’t That Young Anymore
Why do you need to attract and keep millennial employees? In short, they’re quickly going to be your only workforce. The prior generation is now “aging out” and retiring. Older employees are going to be more experienced, but also may demand more, and may not be suitable for entry-level or moderate-level positions.
Millennials aren’t that young anymore. Depending on how “millennial” is defined, the youngest millennials are now anywhere from 18 to 28 years old — which means that, some employers are now hiring entry-level employees who are members of Generation Z.
Most self-identified “millennials” are going to be 25 to 35 years old; not necessarily the young, entry-level employees that people think about when they use the term. In fact, many of them have exactly the amount of experience that one would need to fill a basic tech position.
Avoiding millennials means avoiding any employee under the age of 35, which is a hard sell in the tech market. Still, shifting cultural norms and a changing relationship between employees and employers means that employers may need to take special care in attracting this new generation.
Younger Employees Tend to Change Jobs More Frequently
It’s broadly stated that millennials tend to job hop a lot, but the reality is that all young employees tend to switch jobs frequently. When hiring in younger demographics, this can lead to frustration; employees may quickly leave to go to other positions, thereby making all the time you invested in them moot. To counter this, you need to provide employees with the things they are looking for.
Millennial employees are generally looking for a healthy work-life balance, and they may be looking for more “soft” benefits than hard benefits. A high salary is nice, but paid time off, the ability to work from home, and the ability to use “flex hours” may all be more attractive to a millennial employee, who is often willing to work for lower pay if they are able to set their own hours.
Many employees are also looking for fulfillment and advancement. If they don’t feel as though they can advance in a company, they may not see any reason not to look elsewhere.
Ultimately, the employee pool is aging, and millennials are quickly going to become a majority in the workforce. If your business can’t find a way to appeal to the millennial employee, it may find itself with unusually high levels of employee turnover.