In a recent survey conducted by Lloyds Bank, almost nine in ten small and medium enterprises (SMEs) say their growth relies on an ability to recruit millennial talent.
Millennials represent the youngest of our workforce, having been born between 1980 and 2000. They have grown up in a time of rapid change, development and growth, and are renowned for their fresh ideas, presenting a different perspective and of course, pioneering the digital age – society’s so-called ‘digital natives’.
Naturally, millennials have a new set of priorities and expectations when it comes to work too, and these are often very different from previous generations. As the driving force behind our growth, it’s no wonder then that more than three quarters of SMEs say that they feel under pressure to sell themselves to millennials when looking to recruit.
So what are millennials looking for when considering a role, and how can we attract and retain new talent?
Company Culture and Feeling Valued – It’s what Millennials Want
Today’s millennial workforce and our future employees are searching for more than to fulfil a task for money.
The Lloyds Bank research highlighted that more than half of millennials would turn down a role if they didn’t like the company culture, even if the salary was right. With less emphasis on financial reward, it’s clear that millennials have different expectations of working life; they are simply passionate about a company’s culture and making a contribution. If they work for a company, they really want to feel part of it.
Why Business Culture Matters
A company’s culture is therefore the key to recruitment and retention – it’s great for our business and great for our employees. When we design a company culture, our people want to be part of it, to enjoy it and to do well, and this in turn enables our businesses to truly thrive.
At Bright Horizons, our legacy is built on our commitment to Keeping Everyone Safe and to providing world class care and education for children and families. This is only achieved by cultivating a company culture and developing a world class workforce: employees who are engaged, happy and full of energy.
And therein lies the solution to creating a great company culture: a place where employees are happy, engaged and can bring their whole selves to work.
A great company culture is one where our employees know that they are truly appreciated and making a difference, and that their needs are understood, supported and embraced.
For our 18 to 30-something millennials, and aptly named sandwich generation, there are many ways this can be achieved; from supporting flexible working and developing work-life integration to providing additional support with personal commitments and useful employee benefits – not only for today but tomorrow too.
If we’re able to provide support for our employees, we’re able to make it possible for our employees to not only do their jobs, but want to do them well, to achieve and to help our business grow.