Millennials are fast becoming the most important workforce segment in the global market and are therefore, not surprisingly, the most popular to study. The figures observing the patterns and behaviours of this generation have suggested a proposition of a simple change in the recruitment practice which could potentially save employers many future headaches.
Life without borders
Where older generations may have saved traveling for retirement, millennials have accepted that they might not have that guaranteed in the future and have expressed this through their own extensive travel habits. They are not intimidated by the prospect of moving for work either. KPMG International highlighted in their study of business students from 23 different countries that 89% said that they ‘would be prepared to move regularly to a different country for the right job opportunity’. Not only that, but 80% of those asked also said they expect to live in 3-6 countries throughout their career. MoveHub’s study found that employment was the primary motivation for those making a move overseas with another study in the US finding that 55% of the generation was currently considering changing countries.
Some savvy businesses have already caught on to this trend by incorporating policies that enable staff to take time out to travel. However, this can be an expensive option with temporary workers required to fill the gaps and the unpredictability of staff returning.
According to Deloitte’s international 2016 survey
of 7,700 Millennials, 25% said they would leave their current job if offered another one. PwC’s study
highlighted that the same figure expected to have six or more employers. The harsh reality of these studies is that an employer could look at their staff and know that two thirds will be gone in four years. This results in a lot of wasted time and resources. It would be fair to presume that due to the attitudes and preferences of this generation a high percentage of those leaving will be seeking some form of international experience. Which leaves you to wonder: what is it that employers can do?
The simple solution
To combat Millennials potential lack-of-loyalty and to repel the travel bug, employers need to adopt a different approach to their recruitment strategy. In order to win the war for attracting and retaining talent, the answer lies within shifting the focus from recruiting locally to internationally. Here are the top four reasons why this could be your winning formula.
Investment on both sides
It is true that making a move to work in another country is an investment for both parties, but it can be considerably more of an investment for the employee. They will have had to make commitments that possess a certain level of determination to move. This personal investment encourages loyalty and the drive to succeed in their new life.
The opportunity to learn & develop
The desire to develop oneself and learn new things ranks highly amongst this generation, however this can be difficult at times for a businesses to achieve. The truth is sometimes the employee needs to do the ‘boring basics’ and get the job done. However, if you have an employee coming from outside the country, as the case studies on our online blog illustrate, even starting the same job in a different country comes with an array of different learning and development opportunities. These extra stimuli are free of cost to an employer and ensures the employee constantly feels a sense of self-development.
Citizenship & passport opportunities
Many countries allow employees to apply for citizenship after spending a number of years within their country. This can be a motivational tool for employees within an organisation and allows the opportunity for the employer and employee to develop a closer bond through assistance in the process.
The lure of a different location
How do you stem wanderlust? Become the destination. Local weekend excursions and cultural activities will excite a new arrival much more than somewhere who has always lived there. Providing this generation with exciting new experiences is essential to making sure they are fulfilled psychologically.
Ticking off both the international and the professional boxes will lead to a more satisfied and content millennial employee. For a generation that strives to lead individualistic lives with plenty of photo sharing moments, to win their affections you should make them an offer that combines both life experience with professional opportunities.
How can Think Global Recruitment help?
It is important that our clients receive the best service to ensure you recruit the perfect candidates to match your needs.
At Think Global Recruitment we can help by assisting in organising a trip to a country of your choice and setting up an interview schedule with pre-screened accountants that fit your requirements and are motivated to make a move abroad. The Accountancy Worldwide Forum, is another way of meeting global accountants. Bringing together prestigious accountancy, commerce and financial services companies from all over the world to match with the best accountants in the world.
It can be stressful for companies recruiting internationally which is why we have created an extensive walkthrough guide and have client support available the whole way through the process and even after the candidate has started. This makes the process run smoother for everyone involved.
Our advice when recruiting Millennials:
· Provide a detailed job specification to save time and get the exact candidate you are after. Every detail counts to ensure you get the right fit for your organisation.
· Be honest to the candidate about the role & location so they get the full picture. If you don’t they’ll find out online or worse once they’ve just arrived.
· Stay in touch with candidate after they’ve accepted an offer– they will appreciate the extra time you take to do this and means they’ll feel valued before they start.