What percentage of your workers were born between 1980 and 1995?
By 2025, Millennials will represent 75% of the working population.
How are you planning to keep them engaged and with your organization? Or, are you resigned to the fact that they will move on if they can find a job that pays more than you can afford in the for-profit or nonprofit sector?
There has been some research noting that millennials, who were raised by baby boomers, are accustomed to lots of positive reinforcement and attention. That could pose a problem for nonprofits who want to retain these individuals. Working for nonprofits may not have the allure of a for-profit company that can offer incredible benefits, a company credit card, and regular bonuses. Plus, research tells us that millennials are not afraid to change jobs. The Bureau of Labor Statistics reports that the average millennial has held 7.8 jobs between the ages of 18 and 30.
Researchers Jennifer McGinnis of George Washington University and Eddy Ng of Bucknell University took a look at the challenge of recruiting and retaining Millennials in their report, “Money Talks or Millennials Walk: The Effect of Compensation on Nonprofit Millennial Workers Sector Switching Intentions.”
Despite what you may think, they found no evidence that millennials are looking for a quick exit with the possible exception of nonprofit managers with college degrees.
Nonprofit organizations might have a slight disadvantage in recruiting from this cohort if salaries are too low.
So, if your recruiting efforts have stalled, consider these five tips:
1) Regular job ads usually will not work with attracting millennials. Because they spend a lot of their time on their smartphones, use social media in your recruitments.
2) Millennials want to work for organizations where they understand the meaning of what they will do and how they will contribute to its mission. Your nonprofit has the edge over most for-profits in this area.
3) Flexible hours are a big plus if you can offer them. Millennials believe in work-life balances. They will work hard, but not necessarily in the traditional 9-5.
4) Offer a career path or the future.
5) Provide training, even if it is not related to the current job.
Master these tips, and then you can worry about hiring from the “Gen Z” cohort!
I’d love to get your reaction. If you are a Millennial, what keeps you engaged in your job. If you supervise Millennials, what are you doing to meet the needs of the next generation? Add a comment below.