How to Win the Talent War With a Millennial Workforce in 2020
Share on facebook
Share on twitter
Share on linkedin

As an employer, you know we’re in the middle of a highly competitive workforce market. The ball is in the job shoppers court, especially for those that possess the elite talent your company seeks. Everyday, millennials are choosing employment at companies with better benefits – even if the salary is lower. This data demonstrates that millennials desire more from their 9-5 – specifically, companies that align with their values, have reputable corporate cultures and embrace truly inclusive workplaces. Simply put, they want their career to align with who they are as an individual, shaped by the generation they were born in to.

Perhaps you’re trying to improve the landscape of your corporate culture? Or maybe the new hire you wanted ended up with a company with robust benefits instead? In order to win today’s talent war, it’s essential to offer forward-thinking benefits that are meaningful and attractive to potential employees. What is the most meaningful thing to you? For just about anyone, their reply would be, “My family”.

Millennials, who make up over 50% of today’s workforce, are waiting to have families and become parents. This trend indicates that over ten million babies will be born to millennial parents in the next decade. In other words, the majority of your workforce will be entering parenthood – soon. Seemingly, the time is ripe for employers to pursue next gen parent-friendly practices that embrace employees in their appropriate season of life. The benefits of doing so are measurable and transformative for both employers and employees – but, simply put, it’s also smart business sense.

Procure Mobile Optimized Benefits that Millennials Desire
Today’s workforce uses their mobile devices for everything from scheduling their dog walker to education – even ordering groceries. Having accessible online benefit platforms is essential for employee engagement – and impact. When access to benefits are embedded where millennials already spend their time, the positive impact is tangible to both employers and their employees. Given that most of your workforce will be exploring or entering parenthood imminently, procuring mobile-ready benefits that appeal to parents is a surefire way to rocket your organization to the top of jobseekers lists.

Facilitate Trust in Your Corporate Landscape
In today’s highly transparent world anyone can google the truths inside your company. Positioning your company to positively stand out among the noise is critical in your pursuit of attaining top talent. Because most job seekers will soon be navigating life as working parents, establishing parent-friendly practices highlights your commitment to corporate inclusivity and citizenship. When potential employees feel an employer would support them in what they value most, that employment offer looks that much more attractive – and (because they’re millennials) they’ll be vocal about it. This is the noise that your company wants to be known for.

Participate in the Rapid Rise of Social Enterprises
A seismic shift is currently underway causing organizations to no longer be judged solely by traditional metrics such as quality of product(s) and/or financial performance. Rather, they’re increasingly assessed by their relationships with their employees, customers, communities and society at large. This human-centric movement away from “business enterprises” to “social enterprises” is serious business; it’s a top strategic plan for most C-Level executives and social enterprises are experiencing more growth than their competition. Committing to social causes is a must in today’s competitive employment market. Even if your company doesn’t have a current social focus, you can partner with ones that do – elevating your organization and making employment within it, that much more desirable.

Position Your Company to be More Attractive – and Marketable
To win the 2020 talent war, organizational leaders should take strategic strides towards embracing their impending childrearing workforce. Doing so will elevate the attractiveness of employment within their company to today’s parenthood bound job-hunters. Data supported ways to accomplish this include procuring mobile optimized and parent-friendly benefit platforms, establishing corporate trust through parent inclusivity practices, and aligning with social causes that appeal to working parents. In a world where today’s top jobseekers choose better benefits over salaries – winning their talent means employers must create progressive employment packages that align with the millennial ethos.

Tara Campbell Lussier is a mother of four and the cofounder of Arrow Birth, a next gen family support platform that helps clients attract today’s top talent through parent-friendly benefits. For more information, please visit arrowbirth.com/for-employers/.

1“2020 Workforce Trends- What You Need to Know!.”
2“The Three Benefits Millennials Are Demanding From Employers.”
3“Defining generations: Where Millennials end and Generation Z begins.”
4“Millennials Are Putting Off Having Kids. We Already Have Two..
5“More than a million Millennials are becoming moms each year.”
6“Supporting Working Parents: A Guide for Companies and Coworkers.”
7“Why Mobile-friendly Employee Benefits Matter.”
8 “Leading the social enterprise: Reinvent with a human focus.”