The job market for millennials in the IT industry is changing rapidly, and innovative companies need to understand what makes them tick in order to attract and retain top talent.
According to a recent study by Progressive Insurance, Millennials have more career options than ever before, but few prioritize salary over less tangible elements like flexibility, growth opportunities and job satisfaction.
Millennials Have More Options
With more business and industries turning to digital solutions each day, it will be a job seekers’ market. As such, Millennials are in the advantageous position of being able to demand the type of work environment they desire, or easily move on to another employer.
“This generation is not afraid to jump ship if they aren’t happy at their new job. In fact, 59% of respondents would consider looking for a new job within six months of starting their job,” said Lynley Williams, recruiting director for Progressive Insurance, via email. “Job seekers check for new jobs at least five times a week, and receive an average of six messages from recruiters per week. They know they have options.”
They Prioritize Flexibility and Job Satisfaction Over Salary
According to the study, Millennials often seek out employment opportunities that provide more than just a financial reward. In fact, most prioritize flexibility and job satisfaction over a higher salary.
“82% of millennials interested in IT jobs are willing to relocate for a job they’re interested in, and on average they’d be willing to move more than 600 miles,” said Williams. “Respondents said they would prefer flexibility over a salary increase, with nearly three in five (58%) reporting they would rather have a more flexible work arrangement – such as working remotely – than a job that pays 20 percent more.”
Furthermore, 81% of millennials would choose a less attractive compensation package in order to work on something they’re passionate about, according to the study.
The Hiring Process has Changed
While job postings may have been an effective tool for recruiting employees during periods when employment opportunities for IT staff were limited, today’s job seekers look for their next career in a variety of different ways.
“So much of the hiring process has changed in the past ten years or so; millennials can rely on social media to find a job and sometimes don’t even have to be in-person for an interview. This is very different from past generations,” said Williams. “Social media and LinkedIn in particular are of course great ways to connect with them, but it’s also important to give them an insider’s look into your company’s culture.”
What IT Hiring Managers Need to Know
Millennials in the IT industry have more career opportunities than ever before, but instead of leveraging such opportunities for higher compensation, then instead seek out employers that they’re passionate about and love working for.
As such, IT professionals need to put their company’s culture front and centre in their recruiting materials, but also ensure that those materials are easy to find on social media sites. Highlighting flexible work options, career growth opportunities, and providing testimonials from other satisfied employees can be very effective in attracting millennial IT talent in a competitive recruiting landscape.
By creating a culture that caters to the needs of employees, IT employers can set themselves apart as the company millennials are willing to travel an average of 600 miles to work for, as opposed to the one that they actively consider leaving after six months.