Companies don’t just compete with each other on the product front. They also compete on the talent front. Every company would like, if possible, to attract the best talent. And that means that businesses have to do everything they can to woo the best people.
Right now, there is a big talent pool out there, just waiting to be put to work. The results of the College Graduate Employment Study make this clear. Just under half of all graduates now consider themselves to be underemployed or in a job that doesn’t require a degree. That’s up from just 41 percent back in 2013, according to fastcompany.com.
Thus, companies have ample opportunity to find and recruit younger talent; something they’re failing to do right now. So what can they do better?
Create A Fun Work Culture
According to the data, young people just entering the workforce prefer culture to compensation. In other words, they’re willing to accept lower pay, so long as there is a positive social atmosphere at the firm. This information is important for businesses. It shows that they can compete on a non-pay basis. The cool thing is that generating a great culture at a firm is essentially free. All it requires is a commitment from the people at the top to make it happen. When your company is famous for its great culture, your business is at a competitive advantage.
Digital Recruiting
Millennials are just about the most computer-savvy generation that has ever existed. As a result, it should come as no surprise that the place to find them is online. According to the data, 64 percent of 2015 grads used mobile apps to apply for jobs. And that’s why so many employers are turning to digital tools, like Valintry.com, to find talented people. What’s more, it doesn’t appear that businesses have to push or market digital recruiting to new graduates. Most grads agree that social networking is the best way to find exciting and interesting work. Now there’s a reason to start ramping up your digital recruitment drive!
Be Like A Small Company
Millennials have a distrust of big business. Sure, they’ll work for them if they have to. But they’d rather not. In fact, only 15 percent of grads today say that they want to work for a large company. When it comes to the labor market, smaller businesses are at an advantage.
The reason for this all comes down to perception. Graduates believe that the work in smaller companies is more creative and exciting. That, in itself, is enough to sell it to them. They see work in larger companies are being generic and repetitive. And most grads don’t want anything to do with it.
These perceptions aren’t entirely accurate of course. Work in smaller firms can be just as mundane as work in larger firms. But the evidence suggests that graduates don’t know this yet. The job of larger businesses, therefore, is to think more like small businesses. They’ve got the resources to make fun work happen. And if they want to attract talent, they need to make it clear that the work itself is fun.
This article was provided by ellie jo