Why Should Companies Care About Engaging the Millennial Workforce? It’s All About the Numbers…
As the landscape of the workforce changes, legal recruitment is changing with it. Now that Baby Boomers have begun to retire, the generation known as “Millennials,” those born between the early 1980s and the late 1990s, are becoming an ever more important fixture in the hiring landscape. By 2020, Millennials will make up 50% of the workforce.
This new generation brings with it new expectations and demands for recruiters. This is particularly true when dealing with legal staffing for document review projects, given the majority of candidates are recent law school graduates who fall into the Millennial category. Staffing agencies must keep up to date with Millennial needs and preferences to stay relevant in engaging top talent.
Millennial workers operate in ways unlike any generation that has come before it. And with the U.S. unemployment rate hovering at a low of 4.9%, recruiters can no longer afford to ignore how Millennials think and what drives their career decision-making.
Unfortunately, it seems that most HR teams have not yet cracked the code of how to reach Millennial talent. 53% of hiring managers report having difficulty finding and retaining Millennial employees.
Below are five key Millennial expectations and the corresponding strategies that will help companies better engage and win over this powerful and enormous workforce segment.
1. Millennials expect digital experiences. One of the most important attributes of this new segment of the population is their status as digital natives. This generation leads the way in the adoption of new digital platforms such as the Internet, mobile technology, and social media. This is perhaps because they are the first generation that has grown up with all of this new technology rather than having had to adapt to it as adults.
Consequently, the first place Millennials go to look for new jobs is online. 52% visit company websites, 62% search social networks, and 72% turn to online recruitment platforms. According to a report from LinkedIn and Altimeter, companies with a strong online and social presence are 58% more likely to attract and retain top Millennial talent.
For legal recruiting, this means an online platform is essential to engaging Millennials.
2. Millennials expect mobile experiences. An online platform is necessary to attract top quality Millennial workers, but it is not sufficient. 72% of Millennials (versus 63% of other professionals) report searching for jobs on their mobile devices and 42% spend 10 minutes or more doing so every single day. According to the Center for Generational Kinetics, 43% of Millennials want to be able to apply for a job on a tablet, and 39% think they should be able to apply on a smartphone.
- It is clear that for Millennials, searching for jobs has become an anywhere, anytime activity:
- 41% report looking for jobs in bed;
- 38% search for new opportunities while commuting;
- 36% do it while eating out at a restaurant;
- 30% look while working at their current job; and
- 18% even search for jobs in the restroom.
If you want to hire fresh, top talent, you have no choice but to make your jobs available via a mobile platform, because that’s where Millennials live. The ability to not only access jobs online but to receive all job details and accept or reject offers on the go is an added bonus that appeals to this generation.
3. Millennials expect convenience. Make it fast and easy for them. As digital natives who grew up with a world of information at their fingertips, Millennials are easily turned off by barriers and delays. After all, they are the first generation to grow up with smartphones and real-time responses.
What better way to offer that real-time response than with the 24/7 access of a mobile app, where Millennials can receive immediate notification of real job offers in real-time and respond instantaneously.
Another way to speed up the hiring process in legal recruiting is direct communication between firms and candidates. This ensures the accuracy of job offer details, eliminates the potential of miscommunication between middlemen, and also reflects Millennial preferences with respect to new opportunities:
- 84% of Millennials are interested in being contacted by a recruiter;
- 48% report recently updating their resume; and
- 45% say they have recently researched job opportunities.
Being hand-picked directly by a client who has reviewed the candidate and who directly makes the offer is clearly the method of hiring that engages Millennials most.
Efficiency is further enhanced when membership to an online talent platform is granted only to those contractors who have passed the platform’s stringent vetting process, which includes verification of all educational and licensing credentials as well as a criminal background check. This way, legal professionals go through the vetting process only once but are considered for multiple document review jobs. It saves clients time too, since they select from pre-qualified candidates meeting all requirements.
Finally, when dealing with document review, conflicts are a nuisance to keep track of. Making it easy for Millennials means having a platform that auto-populates conflict information for jobs accepted and completed on the site. This also ensures that conflict decisions are made immediately so candidates can be certain that they have been pre-screened and pre-qualified for any job offers they receive.
4. Millennials expect transparency. At a recent Fortune Brainstorm Tech Conference, the takeaway was that Millennials value “authenticity, transparency and access to power.” Salina Mendoza, a recruiter and a Millennial herself, agrees. “Transparency in the recruitment process is expected,” she says. If your company does not offer extensive and transparent information about the job, hiring process, and culture, you can easily end up missing out on top talent.
One of the best ways to increase transparency is to recruit via an online, mobile-friendly platform with the capability to not only post a job and profile of the firm offering it, but also to allow direct interaction between employers and candidates.
Another feature to further enhance transparency is a two-way rating system. Not only can potential hires more easily decide if the company is a place they want to work based on prior contractor reviews, but they also know that their opinion matters.
5. Millennials expect companies to be socially responsible. Two thirds of Millennial job seekers say they would refuse to work for a company without a strong sense of social responsibility.
This is another area where an integrated, online document review hiring platform can help. Because all documents are uploaded online, this process has a significant and positive environmental impact. And with 44% of Millennials reporting that they make career choices based on their values, this switch is one that employers would do well to consider making.
You Need a Fast, Integrated, Digital Solution to Keep Up With Millennial Expectations and Engage Them in the Talent Marketplace. Mplace Has This.
Millennials live in the digital world and antiquated legal recruiters who have not kept up with the pace of innovation will not engage this talent segment.
Mplace Inc., a SaaS solution that is innovating legal staffing in the document review, contract review and due diligence markets, has invested in an integrated, online platform that speaks to Millennials and engages this new workforce. We offer:
- A mobile-based platform;
- Direct communication between clients and legal professionals;
- Automatic, pre-screened conflicts;
- A two-way rating system;
- A stringent vetting process;
- A greener process, where all documentation is uploaded digitally.