Millennials may be the most-studied generation in the workforce today. One recent survey sought to dispel myths surrounding recruiting and retaining Millennials, and the research indicates that it is a generation that highly values career growth and learning.
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Announced in a press release, Yello, a talent acquisition software company, has released its 2016 Yello Recruiting Study. For the study, Yello used its proprietary data and surveyed more than 7,000 students and recent graduates to gauge their perspectives on the hiring process.
The survey offers exclusive insights into the motivations of this next wave of talent and how recruiters and companies can best engage these recent and soon-to-be graduates.
“In the workplace, Millennials are often labeled as entitled, lacking company loyalty, and only focusing on perks such as happy hours or in-office ping pong tables. Our data debunks that myth and shows recruiters what really motivates Millennials,” said Jason Weingarten, CEO and cofounder of Yello.
Key findings of the 2016 Yello Recruiting Study include:
Career growth and learning are valued over salary: Respondents were two times more likely to value career growth and learning over salary in accepting a job. “Millennials are clearly drawn, first and foremost, to employers that offer continued growth and learning opportunities. Increasing the salary for in demand candidates no longer works; today’s jobseekers simply cannot be bought,” said Weingarten.
Technology is key to attracting and hiring Millennials: Yello’s findings show approximately 20% of respondents have applied for a job via their mobile device. Conversely, 20% have chosen not to apply to a company solely because the career page was not mobile-friendly. Employers who place an emphasis on a mobile-friendly career page—and even enable applications via mobile devices—can open the door to a new population of applicants who might not have otherwise considered the company.
Speed is the difference: 62% of potential employees indicated speed is a top factor in whether or not they accepted a job, especially if they are applying to multiple jobs at the same time. Organizations no longer have the luxury of thinking they are the only offer on the table. “If the company had waited any longer to make an offer, I would have accepted an earlier offer that was made to me,” said one Yello survey respondent.
Recruiters are here to stay: Despite technology driving much of jobseekers’ company research, recruiters still play a key role in the hiring process. More than three in five respondents indicated a recruiter impacted their final decision to accept a job. In an age where recruiting software makes the hiring process more efficient and automated, recruiters can serve as a guide to keep potential employees updated and well-informed during every step of the process.
Methodology
In March 2016, Yello surveyed 7,447 collegiate or recent postcollegiate students on their interviewing and hiring experiences. All individuals were either currently employed or had accepted full-time or internship offers. These participants entered the Yello database as a result of a university or diversity career fair they attended in the last 36 months.
To download a full copy of the report, click here.
In tomorrow’s Advisor, guest columnist Hugh Tonks has tips for a key element of career growth and learning: mentorship.