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Operating a startup needs a well-laid strategy for its success. According to Pew Research Center, as of 2017, 56 million millennials were either working or looking for work. This number has finally surpassed the Baby Boomers who, according to the research were 41 million. Millennials fall into the category of people born in their 80’s all the way to 2000. Numbers don’t lie which is an eye opener for startup businesses.
Despite the financial hurdles you may face as a startup, hiring is a crucial step that contributes to the company’s future performance. Ever considered hiring a millennial? Some business owners may be opposed to this because they have read that millennials don’t stick in their current company for long. Looking at it in a different dimension, people fail to ask themselves some tough questions such as does the company do enough to retain them? Are the working conditions conducive for them? Below are reasons why you should be considering hiring a millennial.
1. Higher Education Levels
Millennials are by far among the most educated people. Even more importantly is that, they have this urge to continue learning and sharpening their skills even more. They are tech savvy which means they have a better understanding of technology. Put in mind that we keep hearing about technology advancements on a daily basis. Who wouldn’t want to have somebody with such traits in their company? It’s an advantage to both the employer and employee as they have a mutually-benefiting relationship. (The millennial gets to practice their tech prowess while the employer gets somebody who is aware of the changing world).
2. Highly Motivated
Most millennials are highly motivated to get into the job market. They may be fresh out of school where they had to study and get involved in other school-related activities which helped them know how to be more productive. This is the kind of energy a startup needs. Having such a workforce helps in maximizing the company’s goals and objectives as well. Millennials also understand that working in teams supports the business.
Some of the issues that bring down startups is diversity. People come from all walks of life and different ethnicities. If not well-handled, there may be divisions among employees. However, the positive side is that most of the millennials are fully aware of the diversity due to their exposure to the internet and social media. This makes them a good fit as they are more open to other people’s ideas and opinions. A successful business requires employees who are open to hearing other people’s take on company decisions.
4. Creativity Redefined
We must give it to the millennials when it comes to creativity. With the zeal to be more productive, they are more likely to come up with new ideas that will be highly beneficial to the company versus the baby boomers. Their view of life is entirely different which makes their mindset different too. With the increasing number of millennials, it’s important to take into account some of their ideas. Incorporating their ideas is a way of ensuring your business stays relevant and getting more profits too. Also, when millennials see that you take them seriously, they are more likely to stay for long at the company. They continuously need affirmation that you value them.
5. Value vs. Paycheck
As much as the millennials are not following the employer until old age or retirement, they are still not leaving their workplaces for no reason. In today’s world, millennials are not aiming at getting a fat paycheck only, but they are also looking for a company with a purpose and mission. They are looking for a company that has the potential for growth. Have a clear guide to what your company intends to achieve: come up with short-term and long-term goals. On a positive side, this will work for you as a business owner because it has a high potential for growth which is an avenue for the millennials to grow and climb the ladder over time.
All in all, having millennials in your organization creates a synergy in the workplace which helps in attaining maximum returns. Ensure that you keep them highly occupied as they can be impatient at times. Involve them in problem-solving situations. Don’t be too busy; let them figure things out themselves without always feeling the urge to check up on them. The surprise will come when you see how much potential they have as your business starts achieving projected cash flow.