Not a One Size Fits All Generation
Over the years, there has been a shift in the understanding of what a millennial actually is. Pew Research has done all sorts of work on the subject, and seem to have set the standard cut off between generations so that millennials sit comfortably in the 1981 to 1996 range. But older reports from Pew Research and other groups have reported the millennial generation as sitting anywhere between 1977 to 2004. The United States Census Bureau still reports millennials as born between 1982 and 2000. If you take all this into consideration, research on millennials potentially includes people who are anywhere from 14 to 42 years old as of the year 2019.
The chaos is only worsened by the fact that no one wants to be associated with the millennial generation because of the negative stereotypes associated with them like entitlement and laziness. But if you take some time to wade through all the confusion, eventually you will be able to see that they are the largest generation in the labor force today, no matter how you spin it.
In 2017, the millennial population in America’s workforce was around 56 million people, and the numbers are only going up. So the question on every business’s mind should be how do we attract the best talent from the growing millennial workforce?
How to Attract Millennials to Work For Your Company
Millennials live in a much different world than their predecessors. Many of them came of age during a time when America was engaged in warfare in the middle east and entered the workforce at the highest point in the recent economic recession. Every generation experiences unique social and economic pressures as they come of age and enter the workforce, making each completely different than the last.According to Pew Research, some of those key differences between millennials and generations past are that millennials make up the most diverse generation thus far in American history, and that they are much better educated than their silent generation predecessors. They also embrace and adapt to change and advancements in technology faster than other generations. There is nothing to suggest that millennials are lazier or more entitled than past generations, they just approach things in different ways. Understanding the motivation driving millennials in the workplace is key to attracting the best talent to your company.
While previous generations were more content with trading their time for a consistent paycheck, research conducted by UNC shows that millennials prioritize meaningful work over a higher salary. In this regard, meaningful work is defined as a sense of greater contribution and value within a team.
Millennials thrive in strong mission-driven companies that make a positive impact in the world and show recognition for their workers' accomplishments. The same research also points to the fact that millennials prefer consistent, real-time feedback on their performance as opposed to traditional performance reviews conducted every quarter. It’s not that they’re looking for orange slices just for showing up. Instead, what they are looking for is a work environment with open communication that gives them a clear understanding of their value and influence within the business.
As a company, you should want to attract the best talent from the millennial workforce, not only because they make up the majority of the American workforce, but because they will act as brand ambassadors for your company as well. As the population of millennials in the American workforce continues to rise, you will want to benefit by attracting the best and brightest of them to work for your company. One way companies are making this happen is with custom challenge coins.
Changing the Game with Custom Challenge Coins
Millennials want to work for companies that give them meaningful work and provide consistent feedback on their performance so they can know their value in the organization. To make this happen, a lot of corporations create unique employee recognition programs where challenge coins are awarded to the top performers in the company. Not only do these programs help managers know what to look for in their best employees, but they also ensure your staff is confident in their ability to contribute to the team and know how they can make a mark in the business.
Challenge coins used in employee recognition programs are meaningful gifts that show gratitude for the hard work of your company’s best workers. They are also perfect for helping staff members understand why your company’s mission is important and how the company contributes to the world in a purposeful way. Coins minted with a company’s brand serve as a reminder to staff of their acceptance in a business team and of their contributions in helping that business achieve important goals.
As a generation, millennials can be hard to define or even understand simply because they are so diverse and so different from the generations that came before them. But just like their baby boomer parents and silent generation grandparents, they are a product of their time and are doing their best to make their way through an ever-changing world. The best thing you can do to attract millennial job seekers to your company is to focus on helping your staff feel valued for their time and helping them see that their work is making a meaningful impact in the world and in your business. Once you take care of that, the rest is easy.
