On the Brink of Job Hopping: How Startup Can Attract and Retain Young Millennials?

As the word resounds ’startup employee’, what comes to your mind?

Chances are, most people will directly think about a bunch of Millennials in T-shirt and jeans working in a playground-like office spaces. Known as digital natives, it is no secret that this generation gravitates toward startup culture. While Millennial workforce makes up the largest part in the startup ecosystem, here comes the drawback you might have heard before: Millennials are the least engaged generation in the workplace throughout history.

Millennials have a reputation for job hopping. Gallup survey has presented couple findings supporting the notion that they have the least attachment to organisations and institutions. According to the study, Millennials are showing less willingness to stay in their current jobs. More than half Millennials (60 percent) are open to a new opportunity and willing to switch jobs, while 21 percent respondents said they have changed jobs within the past year.

Additionally, another report by Gallup suggested only 9 percent Singapore’s workforce is engaged, while 91 percent are emotionally disconnected from their workplaces and less likely to be productive. How does this mean to the future employment of your startup?

The work landscape is undergoing a dramatic change. In a bid to attract and retain young-spirited Millennials, startup organisation needs to find what talents want from their future employers and come up with the right hiring tactics. Here are 6 tips to help startup fetch talented Millennials:

  1. Build your employer brand

Your brand does matter. When you can show potential talents how awesome it is to be part of your growing organisation, they will be keen in joining and making real contributions for your startup. Therefore, it is crucial for you to translate your vision into meaningful value and communicate it with the Millennial talents.

  1. Cultivate an exciting work culture

Copious studies on Millennial’s working traits demonstrate that company culture trumps financial compensations. Rather than working in a stiff and rigid office environment with big paycheck, they are more interested to work at a company which encourages positive and dynamic social atmosphere despite the lower salary. Hence, you should create an exciting work culture that provides room for growth for all talents while giving meaning to the job itself.

  1. Engage and empower talents

Talent engagement and empowerment should be done right from the early hiring process. It becomes essential for you to keep the communication lines open all the time, such that talents know what to expect from your startup.

  1. Offer fun perks and benefits

Ping pong tables, VR games, sleeping pod, and even yoga studio are among most popular perks and benefits offered by startup. Unfortunately, not all startup’s financial state is that wealthy to provide such cool facilities. More often than not, you have to tighten your belt and avoid spending on unnecessary stuffs. Relax! You will not miss out on talents only because of this. Instead, you can offer non-financial benefits such as flexible working arrangements or option for remote working.

  1. Provide lifelong education

You need to show talents that you value and care about their future by helping them achieve both personal and professional growth. Invest in lifelong education and provide necessary trainings for your Millennial workers to gain new skills, such that they can keep motivated and engaged with your startup.

  1. Keep the hiring tap open

To attract and retain the best talents is an ongoing process. Do not wait until you need someone to fill your key roles. Instead, you should always keep the hiring tap open in order to stay connected with potential talents and engage them. By doing so, whenever you have job openings, you always have talents ready to join in the team.

Are you looking for talented individuals from the talent pool for your growing startup in Singapore? Go fetch them by posting your jobs only at startupjobs.asia now!