Hiring Millennials?
Know The Benefits
Pros of hiring Millennials for your company
I can understand if hiring Millennials isn’t exactly your cup of tea. However, let me tell you about how hiring young people went for me when I first started.
Thirty years ago, when I opened my first small business, I thought I would offer jobs to experienced, well-qualified professionals who could bring back far more value than I was able to pay out.
Sure, I may have started my business in the basement of a factory, and maybe I couldn’t offer the money, work environment, location, or hours that proven businesses could. But, I had a vision. And, needless to say, I struggled to find the experienced workers I thought I needed. Turns out that experienced workers like, and want, all of the above perks!
So, instead, I worked with younger, unproven workers. It may have taken me more time to train some of them, but in the end, my business was a success. For example, the talented man who is now president of our programming division was a young grad with a two-year degree from a local college when I hired him. He was one of my earliest employees, and I can’t put a price on the value of this loyal employee who cares about Patriot’s success as much as I do.
Advantages of Millennials in the workforce
Did you know that there are more Millennials than Boomers now?
Pew defines Millennials as those born from 1981 to 1997 (ages 18-34 in 2015), and Boomers were born from 1946 to 1964 (ages 51-69). Generation X occupies the gap in between. Soon Millennials will dominate the workforce, and it is time to embrace the advantages they bring.
Fresh perspective
The great thing about Millennials is that they bring fresh ideas and fresh perspectives to your workplace. It can be beneficial to hire young employees if you are trying to attract younger customers. A new generation means a new way of thinking. Well, new for us Boomers. To customers their own age, Millennials bring familiarity. Young employees can help generate marketing strategies that appeal to their age group.
Technical skills
As for me, I’m a Boomer, and basically what I call a digital immigrant. I have to work extra hard to understand new technology. However, today’s young people are digital natives. They grew up using computers, portable devices, the internet, and social media. Often they pick up and implement technology faster than many legacy employees who may have been at the company when the technology was first adopted.
Cost reduction
Payroll is often the most expensive overhead cost that a company takes on. Millennials tend to have less work experience since they might be just entering the workforce. So when you hire a young employee–or any worker with minimal on-the-job experience–the new hire would logically start at a lower salary than more experienced workers doing the same job. Yes, a lower salary means lower wage expenses and tax contributions. But, remember, costs are not the only consideration when hiring a new employee.
Preparing to bring on the benefits
Training
Training is key for the new entrants of the Millennial workforce, because they are essentially a blank slate. They don’t have old, bad habits like more experienced employees might. Most don’t have massive egos built on previous experiences, which can be a challenge for managers and co-workers. And, most young employees are good at coping with change. In fact, many thrive on it.
Moreover, young employees can be trained to suit your specific business needs. If the prospect of training Millennial employees intimidates you, you’ll want to create employee training that addresses both the strengths of young employees and the realities of your workplace.
Cultural shift
When you hire Millennials, the culture of your company should be welcoming to them. Let your young employees know that you value their ideas and that they’re not a simple token of the Millennial workforce. My younger employees have helped create our Millennial-friendly culture by introducing the occasional battle with foam bullet shooters, an inflatable obstacle course at the company picnic, or a lunchtime visit from a popular food truck.
Internship and apprenticeship programs
Another way to create a welcoming environment for Millennials is by creating an internship program or apprenticeship plan. When determining how to find interns for your small business, you’ll want to consider the variety of new media platforms that Millennials are using. Once you have a method for finding new talent, make sure you have an internship program worth participating in
Both apprenticeships and internships provide valuable job training to young workers–and can be a draw for job applicants. With paid internships and apprenticeships, you get to transfer knowledge and skills to a Millennial worker.
Source: forbes
Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.
Growth for women-owned businesses.
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