In a tight job market, such as the one we are currently in, workers have the upper hand. They can be highly selective about where they work, more easily decide to leave their current position for a better opportunity, and carefully scrutinize companies to see which one fulfills all of their wants and needs. This forces employers to re-examine their talent acquisition strategy and stay abreast of recruiting trends that are attracting top talent. Here are three key issues that can sway a prospective hire to choose one company over another.
Remote Working Availability
The custom of working 9-to-5 at an employer’s office is becoming passé. Spearheaded by millennials seeking a better work-life balance, the option to work remotely is increasingly desired by employees of all ages. More and more business owners are getting onboard with the arrangement, persuaded by studies that show an increase in worker productivity on account of no commute time and fewer distractions, access to a wider pool of workers, and a decrease in operating costs. After a compensation package and long-term job security, a flexible work environment has become the most important issue for job seekers. Projections are that half of U.S. employees will be working remotely by 2020.
Career Growth
People who are the best at what they do thrive on challenges and look for employers that can help them reach their career goals. Smart companies provide a clear path for career progression by properly aligning an employee’s skills and competencies to their aspirations. These organizations are willing to provide workers with the tools and resources necessary to acquire additional skills. A commitment to long-term career growth for employees is also beneficial to employers. They experience an increase in loyalty and retention, strengthen their company’s culture, and develop a talent pipeline to fill C-Suite positions.
Mentoring for Millennials
According to Pew Research Center analysis of U.S. Census Bureau data, millennials currently comprise the largest generation of workers. By 2025, this group is expected to make up an astounding 75% of the labor force. With Gen Z coming of age behind them, appealing to younger workers is of paramount importance to employers. In a study by Robert Walters, a global recruitment agency, 91% of millennials indicated that career advancement is their top priority. Importantly, more than half of them are dissatisfied by the lack of personal development training and with how their skills are being utilized. This dynamic increases the value of mentorships, which pair younger workers with more experienced employees. Unlike previous generations, millennials respond far better to mentors who can guide and inspire them, than to traditional managers. Companies that utilize alternative methods to train and develop their young workers will lessen this group’s tendency to frequently change jobs. This is borne out in Deloitte’s 2016 Millennial Survey, which found that millennials who intend on staying with an employer for more than five years are twice as likely to have a mentor than not.
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