This month, Deloitte released the results of their Deloitte Millennial Survey 2016 which highlighted the lack of loyalty Millennials, in general, possess for their current employers. Many are planning on leaving by 2020. This remarkable lack of commitment has shocked many as it crucially represents a serious challenge to businesses’ employment strategies. By 2020, they’ll be forming 50% of the global workforce, so it’s absolutely a concern worth addressing now. When most young professionals choose to work for organisations that share their personal values, these latest stats present great opportunities for an employer brand to engage with talented existing and prospective employees.
And the good news?
You don’t need a big budget (or ping pong tables) to make a positive impact on your employer brand!
Tone of voice
Gone are the days of preachy language, a ceremonial ‘yours sincerely’ and formal communication practises. If you want to attract great talent, start speaking to them in a language they will appreciate and understand. Consider a tone of voice that’s approachable and genuine. Imagine the questions that job seekers are likely to want to ask, and answer them head-on. Consider asking recent starters for their opinions on how your business communicates compared to others.
The existence and dominance of social media in our lives mean it’s never been easier to engage and interact with your existing and prospective employees. In a world where two-way conversations have become increasingly important and authenticity is key, social media provides employer brands a huge opportunity to positively engage with candidates. Depending on your business’s size, you may already have corporate business handles. If you don’t, create them and get communicating.
Your staff are your best brand ambassadors. Look after them, treat them well and they’ll tell the world about it. A proud employee who enjoys their work will share your business’s achievements with their friends, families and online. Those testimonials are priceless and are undoubtedly your most powerful marketing tool.
Have clear values
Over half of Millennials would be willing to take a 15% pay cut (1) to work for a business with similar ideals. Review and communicate your business’s carbon footprint, CSR programmes, and the ways in which you positively impact the lives of your consumers. These principles could potentially make or break the decision by a person looking to work for you.
What next? What’s the retention strategy?
If you’ve successfully attracted great talent, congrats! Now for the long-term retention. Your employees want to learn, and they’re looking for inspirational leaders. Most would prefer to work with subject matter experts who work as hard as they do. Employ the best, and put in place leadership programs / succession plans to ensure clear progression opportunities.
Be prepared to be flexible. Increasingly, emerging generations value their contribution to their employer not by the hours they put in, but by the quality of their output. Work-life balance has never been more important. Take cues from the likes of Amex, who have put in place a Bluework program that connects different work styles to work places (they’ve also saved millions on real estate).
The perception of your employer brand depends on much more than promotional advertising and bonus packages. Think about how the above points can be dovetailed into a long-term business strategy and you’ll undoubtedly reap the rewards of a talented and loyal workforce for years to come.