3 Advantages ESOP Companies Have to Recruit Millennials

Posted by Cheryl Gallup on Fri, Apr 28, 2017
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3 Advantages ESOP Companies Have to Recruit MillennialsYou can’t think about your workforce without thinking about millennials. They are, quite literally, the future of your workforce. But connecting with millennials can be imposing to older generations. How do you reach them? Why do they seem so elusive? Why are the recruiting techniques that have been tried and true not working anymore?

In my career, I’ve been privileged to have a few wonderful mentors who are baby boomers. Time after time, I’ve depended on their ideals of consistency and back-to-basic business fundamentals to solve challenges. As a Gen X’er, I’ve raised two millennials and observed their peer group grow, mature, and now enter the workforce. I’m excited to take what I’ve learned and pass it along to these young workers. For the future of our businesses, we all must do that. According to a Brookings Institution study, by 2025, 75% of our workforce will be millennials. We need them. But how can we recruit them?

ESOP Companies have secret weapons that can make a major difference in the minds of millennials.

  1. Millennials want to know they’re contributing. Take this point seriously. They don’t buy into the philosophy that “this is the way we do it because we’ve always done it this way.” It’s important to share the company vision with your millennial recruits and show them how they can become a part of it. Making a contribution is far and away the most important intrinsic value recruiters need to satisfy in their potential employees. Millennials want to be happy in their role at work. Knowing their role will contribute to the vision they believe in will help fulfill that need. Talent planning is essential to their career path in your company. Show a recruit how the company goal can convert to a personal goal. Let them know they can try something different to get a successful result.
  2. Company culture at an ESOP company is a distinct advantage. When reviewing company benefits with a millennial recruit, the ESOP is an eye-opening perk that needs to be explained in detail. Again, the opportunity to be an employee owner reflects how their contribution will help the company achieve its vision. Explain this concept correctly and it could be the factor that closes the deal.
  3. Collaboration is important to millennials. They are open to new ideas and recognize the role of diversity within the workforce and their team. This means that they innately respect that individuals have different experiences and bring different perspectives to collaboration. They look for an environment that fosters trust and respect. They want to contribute to an environment that assists in both the innovative methods to reach goals and provides personal social satisfaction. It provides an atmosphere in which a millennial isn’t afraid to ask questions and get help. The benefit to an ESOP company is that millennials believe that success as a team is an important achievement and they’re willing to let go of an idea if the group has a better idea. Use tools such as DISC personality profiling in your recruiting process to help build high- performing, collaborative teams.  

Millennials are a vibrant and vital part of our workforce. In your recruiting efforts, show them how an ESOP company speaks to their sense of purpose and you’ll successfully tap into this spirited generation.

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Topics: Communications and Culture

Cheryl Gallup
Written by Cheryl Gallup

Cheryl is a Senior Business Consultant responsible for cultivating and maintaining strong relationships with current and prospective ESOP companies, understanding their specific needs and expectations.

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