As the number of millennials entering the workforce continues to increase, the traditional rules around workplace operations are slowly disintegrating, encouraged by a generation that wants more flexibility, an even work-life balance and a sense of purpose.
As these conventions change, the idea of loyalty has been redefined, with many open to leaving roles to find something more rewarding or in line with their current life stage. In fact, a recent study by PwC revealing over a quarter of millennials expect to have six employers or more in their lifetime, a rise from 10% in 2008.
Losing your employees can be a costly exercise as every moment spent developing new talent is one second less dedicated to the core business. What’s more, the team morale is often affected and a high turnover rate doesn’t look appealing to investors or stakeholders.
Making the right decisions at the hiring process will mitigate the risks of hiring someone new. While past history doesn’t reflect future behaviours, there are certain indicators that reveal the likeliness of an employee jumping ship earlier than expected. Here’s what to consider next time you recruit:
Invest in your digital presence
The easiest way to ensure long-term value from a potential employee is to attract the right type of candidates. Millennials are the first generation to grow up surrounded by digital technologies and as such, will rely on the Internet for information about your brand. Invest in building a digital presence that’s attractive to the best talent, with consistent messaging and experiences across all sites. Don’t be afraid to use social media for sourcing – LinkedIn, Facebook, Twitter and Glassdoor can all be effective.
Establish role expectations
While you want to attract the best talent, it is essential that all role expectations are communicated clearly and understood by the employee before any type of commitment is made. If a role includes a large amount of administration or irregular hours, mention it – otherwise, a discrepancy between what an employee expects and what can you deliver could arise.
Discuss the candidate’s dream job
There may be a discrepancy between a candidate’s dream role and what you can offer. By establishing exactly what they are looking for, you will be able to make an informed decision about what realistically you can offer, and whether you can satisfy their demands.
Discuss previous reasons for leaving
If a potential employee has three or four previous industry-specific roles on their resume, it’s worth enquiring why they left each one. If their reasons are superficial or because of petty problems, you may have a problem later on.
Establish the chain of command and potential promotion opportunities
If there’s one manager to 10 employees and the manager’s position suddenly becomes open, there’s a 1-in-10 chance of a promotion for those employees. But what about the other nine? Millennials are more inclined to expect rapid progression, so it’s worth discussing the potential opportunity for promotion within your company, and ensure that they are aware of the chain of command.
Include a skills-based task
Forget the credentials – look for confirmation of skills. Essentially, what you’re looking for is someone who can positively contribute to the business by using their pre-existing knowledge and any new skills they learn on the job. It’s important to establish that they possess the relevant skills for the advertised role, which can be conducted through a small skills-based task.
Finding the best talent can be challenging! We’re here to help. If you’re looking to hire new staff, get in touch with us to discuss your requirements today.