4 ways to make your company more attractive to young people
Each generation has different priorities when it comes to finding an employer
Undoubtedly, very soon the workforce will be dominated by millennials. In Thailand, millennial workers will account for 50% of the total workforce in 2025 compared with 40% of today’s workers, and to stay competitive, employers in Thailand will need to prepare for changes in the workforce. The National Economic and Social Development Council, in its latest forecast, confirms this trend:
That means that you’ll probably want to take measures to attract top millennial talent when that generation dominates the pool of available job candidates.
Of course, each generation has different priorities when it comes to finding an employer. For example, cash doesn’t always rule employment decisions around millennials. Instead, they tend to equally value good company culture and special benefits as much as a high salary. Equally, your company values matter to them, and they will proactively search online for reviews and comments to form an opinion of what your company stands for. In the past few years, we have seen the proliferation of sites such as www.glassdoor.com, a website where current and former employees anonymously review companies. Glassdoor also allows users to anonymously submit and view salaries as well as search and apply for jobs on its platform.
Addressing working arrangements, recruiting firms report that many Thai millennials are seeking flexibility in the workplace to achieve a better work-life balance, demanding it from their employees more than experienced employees. Millennials in Thailand are accustomed to being connected all the time, and are looking for more inspiring options when working, through flexible arrangements such as freelance and part-time roles as well as being able to work from anywhere, as seen from the surge in demand for co-working spaces, short-term offices or drop-in centers over the last few years.
With different expectations than past generations, here’s what you can do to make your business more appealing when recruiting millennials:
1 - Reconsider your recruiting style
Technology has changed the way people find jobs. The internet gives people so much access to find information about potential job openings and the companies that list them. This means that what potential applicants find online about you can be the first impression of your company.
Fortunately, you have some control over your online presence. You can use social media platforms to showcase what your company is all about, including your values and culture. Search your company on Glassdoor and see what former employers are saying about their experience working for your company.
A mobile-friendly website is an effective way to showcase your business in a good light, especially since mobile job search is prevalent across all generations, not just millennials.
Of course, how you communicate with millennials is a key part of attracting and recruiting them. For many millennials, it’s important to be authentic and make them feel like they would be working with you instead of for you. It’s important to make your company sound like a place where they would want to work. However, that doesn’t mean that you should hide certain aspects of your business. Some people are just not a good culture fit regardless of generation. Be honest about your company, your expectations and the potential applicant’s role, and both parties should be able to tell if a pairing just won’t work out.
2 - Create Career Paths
Contrary to the stereotype that millennials are job hoppers, studies show that the majority of the generation highly value a workplace that gives them a chance for a bigger and brighter future. A Gallup poll in the US found that “93 percent of millennials left their company the last time they changed roles,” but that may have more to do with a lack of opportunities for growth within a company than simple job-hopping.
I am so excited to be developing expertise in Adolescent Health and Participation with UNICEF – this is one of the priorities for the organization and my goal is to eventually land an international role
According to that same Gallup poll, 87 percent of millennials consider “professional or career growth and development opportunities" as a key value for jobs, while only 69 percent of non-millennials said the same. If a millennial finds that he or she is in a position with no viable chance for growth or promotion, that employee is more likely to find that opportunity elsewhere. By investing in employee training programs, mentorship programs, and other development tools, you can show job candidates that you care about their growth. Also, promoting a qualified, motivated employee can lead to lower hiring costs, which makes the situation a win for both parties.
3 - Work-life balance and other benefits
The ability to work remotely or have flexible hours is a major consideration for many millennials. At this point, a significant portion of millennials is getting married, having kids, and making life choices that will have major impacts on their future. Other generations have gone through the same process, but without the same magnitude: According to “The State of Thailand’s Population” a paper published by United Nations Population Fund Thailand, about 53.5% of the female population have an undergraduate degree and 60% of them are in the workforce. This means that with potentially more working couples, more young people are affected by work-life balance, and instituting workplace programs or policies that allow for flexibility or telecommuting can be a major selling point for your business.
This means that with potentially more working couples, more young people are affected by work-life balance.
Employee benefits are also a great boost in staff retention in Thailand, as reported by the Aon Hewitt’s Total Compensation Measurement Study and Benefits Survey 2016, which confirms that having a compensation policy that utilizes effective fringe benefits and perks go a long way to setting your business apart from its competition. Health insurance, vacation time and a retirement plan are three key components of a compensation package that are valued across all generations.
4 - Invest in employment recruitment
It’s important for a growing business to find the right employees, but recruiting the right employees isn’t always easy.
Thailand has consistently been one of the top markets in Asia attracting foreign investment. And while a huge investment continues to flow into the country, growth and expansion of many companies creates fierce competitions. The result is a greater demand for qualified candidates in key positions across most business value chains - basically, demand is outstripping supply.
Consider partnering with a reputable recruitment company.
About This Paper
This document forms part of the “Dare to Dream” campaign, a UNICEF movement which aims to listen and consolidate opinions and insights of young people in understanding which skills are most relevant to their daily lives, and which approaches or teaching methods are most attractive or successful in engaging students to develop these skills and have a fair path to employability. For more information, please visit us at www.unicef.or.th/daretodream