Savvy Generation Y Hiring Strategies

Members of the so-called Generation Y, also known as Millennials, are the labor pool from which companies will draw most of their employees in the coming years. To gain insight into what matters most to these individuals when it comes to their jobs, Robert Half International and Yahoo! HotJobs recently commissioned a national survey of more than 1,000 workers, ranging in age from 21 to 28. Based on those findings, here are some tactics you can use to bolster your recruitment efforts among the Millennial generation:

Show them the money. Asked to rank the importance of 11 factors relating to job opportunities, Gen Y survey respondents said salary is their most critical consideration. In response to another question, 33 percent cited financial security as their top career concern. To ensure that your accounting firm’s starting salaries are above or at least on par with competitors in your region, consult resources such as the Department of Labor’s Bureau of Labor Statistics, the annual Salary Guides from Robert Half International and trade publications.

Offer attractive benefits. Gen Yers are drawn to employers who provide first-rate healthcare and retirement benefits. They are acutely aware that healthcare costs continue rising sharply and that the Social Security safety net may not be available to them later in life. Be proactive and promote your company’s benefits programs during employment interviews and on your website.

Act now. Accustomed to instant results, Millennials don’t like to wait. Therefore, instead of offering delayed rewards (such as the possibility of a raise or bonus after six months on the job), it’s better to make an offer they can’t refuse upfront. Moreover, Gen Yers don’t want to wait three months for healthcare coverage or a year to be vested in your 401(k) plan. Try to enroll them on or shortly after their start date. T

his article is provided courtesy of Robert Half Management Resources, North America’s largest consulting services firm providing senior-level accounting and finance professionals on a project basis. For further information, visit Robert Half Management Resources’ website at www.roberthalfmr.com or call 1-888-400-7474.