What Companies Can Do to Retain Millennial Employees

Founded in 2006, Chicago Search Group specializes in recruiting for the audit and technical accounting, IT and cyber security, and audiovisual industries. Chicago Search Group finds highly qualified candidates who don’t appear on Internet job boards for their clients. Company president Brian Haugh recently contributed his expertise to an article in Accounting Today about the reasons millennials change jobs, and what employers can do to retain them.

Millennials are the largest generation making up today’s workforce, and a recent survey found three out of four millennial employees are open to new opportunities. Employers need to understand what is important to this generation in order to keep them on the job.

Younger employees seek flexibility in their job schedules and location. They also prioritize a strong sense of mission and a clear path forward in their career. A poll found the top three factors millennial employees consider are: compensation, company culture, and work-life balance.

To retain employees, Lee Caraher, CEO and author of “Millennials and Management: The Essential Guide to Making it Work at Work” suggests creating a clear system for feedback, providing meaningful work, and making sure expectations are clear on both ends.

Hiring for Culture Fit

Founded by James McMahon and Brian Haugh, Chicago Search Group is an executive search firm that does customized recruiting for companies in the technology, cyber security, and finance industries. A member of the Sanford Rose Associates network of offices, Chicago Search Group finds the best people for a job position, matching candidates to a company’s culture.

Hiring for culture fit is critical. A company’s culture encompasses everything from its work conditions to employee interactions within the organization and with people outside it. It expresses an organization’s core values, beliefs, and expectations, guiding everything from decision-making to work-life balance. Companies want to hire people who are like-minded in their thinking. When an employee’s beliefs and ethics align with a company’s, the employee is more fulfilled and motivated at work. When there is nonalignment, the employee fares badly and this impacts the company negatively.

Here are some things companies can do during recruitment to increase the chances of finding the right culture fit:

–Understand and communicate your values. Once you clearly define your company’s values, mission, and vision, you will be better placed to judge candidates for culture fit. Communicating these values in ads and other digital media allows you to attract candidates who already share your values and ways of approaching problems.

-Ask revealing questions. Anyone can seem like a good fit on paper. It’s at the interview stage that a good fits really stand out. Ask open-ended questions that uncover candidates’ values and beliefs and determine if they match your company’s.

–Make interviews collaborative. You can even invite candidates to collaborate with your staff to see if they blend well.

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