Today, more than one-in-three American workers are millennials, having surpassed Generation X to make up the largest share of the American workforce last year. It is predicted that by 2020 nearly half (46 percent) of all U.S. workers will be millennials, and as such, the battle for top-tier talent from Generation Y is in full swing.
Liz Wessel, the 26-year-old founder of WayUp, is ahead of the curve. WayUp, which was founded in 2014, is a platform designed to connect companies with college students and recent grads — simply put, the company places millennials into the modern workforce. We caught up with Wessel to find out exactly what these young job seekers are looking for, and she gave us her top tips for companies looking to recruit millennial talent.
1. Recruiting = Marketing. It’s a 12 out of 12 month process.
Millennials take branding very seriously. If you want to engage and attract, you have to constantly be top of mind. These days, young job seekers care less about the company that pays the most or has the most prestigious name. Instead, they’re drawn to those with transparent values and a clear voice. For example, Starbucks' College Achievement Plan offers tuition reimbursement to all baristas in partnership with ASU Online. They are looking to help 25,000 students graduate debt free by 2025. They have worked with us on two content marketing campaigns that include blog posts, snapchat takeovers, Instagram stories and more. The campaigns focus on how Starbucks truly is a company that loves their employees (or as they call them partners). Goldman Sachs has also executed major ad buys on Snapchat and Spotify to amplify their recruiting efforts.
2. Understand Millennial Values
We’ve found there are three things that millennials care way more about than company perks and even pay. They are: personal growth, a clear path to professional development, and a strong emphasis on social impact. At WayUp, we offer employees money for courses for personal and professional development, and host weekly lunch n’ learns with industry leaders.
3. Go digital
This generation was born with a phone in their hand, meaning this is frequently the best way to reach them. Use digital ads over campus flyers and experiment with text message versus email. WayUp users actually prefer to be contacted via text. Employers should constantly be testing new ways to interact with potential future hires. At WayUp, we’re a mobile optimized platform. When a business posts a job on WayUp to students, they can rest assure that students will be able to apply while on-the-go, also allowing the company to come off as tech-savvy.
4. Maximize your budget
Not only is digital communication more successful with this generation, it’s more cost effective as well. Between travel and accommodations, the traditional university recruiting budget gets expensive fast. Career fairs are not the most efficient way to spend your company’s time or resources. Digital services that allow growing companies to reach students across thousands of campuses all at once, without the need to travel, can be critical to landing the right talent. Accessing student engagement through virtual information sessions is a great tool to maximize campus exposure and student reach while keeping costs low. Capital One hosted exclusive one on one virtual interviews with WayUp users without having to spend a dime on travel!
5. Be authentic
Going digital isn’t enough — young job seekers are not impressed by your company’s content unless it is truly authentic. Instead of pulling generic product photos or using stock images, go out into the field and source images and stories from your users. For example, BirchBox created a ‘Birchbox Guide’ video that features a company employee offering advice to students and brand insights, straight from the practitioner (herself!). The video also provides a tour of the office space, giving students a real look inside Birchbox HQ. Aside from an in-person meet and greet, this is as authentic as it gets.
How is your company attracting millennial talent? Let us know or tweet us @builtinnewyork.
