The recruitment and hiring process is long and complicated. The higher up the ladder you are trying to recruit, the more complex the process and the shallower the gene pool you have to work with. When the talent is that narrow, competition is pretty stiff, and it’s simply not enough to be able to offer a position with a salary and sundry benefits attached to it – you’ve got to stand out from your competition or you’ll risk being passed up for greener pastures.
With a largely millennial workforce starting to hit its stride, you almost have to start thinking like one of them to see if you’re stacking up. Knowing how these thought processes work can help – not saying you need to give them free daycare, a fancy massage chair or offer them free haircuts and gourmet catering – but have you ever posed this question to yourself:
Are we a good company to work for? And what do we have to offer that is head and shoulders above the rest?
Money Isn’t Everything
Say what you will about millennials, they are slowly taking over the workforce. By 2020, half of the world’s workforce will be millennial and that’s a mere two years from now.
Millennials think differently than their parents or grandparents did. They care less about money than they do about their ideals and this is no different in healthcare than it is in the corporate world. Many would choose a position where they were confident they would be making a difference to the people they serve over a lofty title and a high salary.
Sure, the salary is important, but it’s no longer enough. They want to be involved. They want to feel like their work is meaningful, that their ideas are valued, and that they are a part of something bigger than themselves. Above all, they don’t want to feel like they’re pushing water uphill.
In fact, most would take a fairly large pay cut in return for having a few key needs met. Some of these might include:
Better Work-Life Balance
This could be as simple as allowing for a more flexible schedule. If it’s possible for you to offer this, there are several key advantages for you as well:
- They will be happier and will likely stay in the position longer
- They will be more motivated to bring organizational solutions to the table
- They will inspire those around them simply because they are happy
Corporate Social Responsibility
Millennials have been shaping global attitudes towards corporate responsibility for some time now and with $2.4 trillion in current spending power, it’s a trend that is only going to grow. If such a candidate had the choice between an organization that was known for its commitment to helping drug-addicted mothers get into recovery so they can keep their children, for example, or a program to stop elder abuse—philanthropy for any reason, in fact—they then become a part of that good. Authenticity is key. What is your company doing to give back to the community? Whatever it is, it could represent an opportunity you may have never thought of before.
In a marked shift from previous generations, millennials consider themselves to be religiously ambiguous, politically moderate, and culturally curious. Companies that are known for their inclusion programs or diversity in any form are often more attractive as a result. In many clinical settings, this is not much of an issue, but it’s the resulting culture and how it works together that really sets the tone. How does your leadership interact with its diverse workforce? Is there strength in its diversity, or is it divisive?
Your culture says a lot about your company. It’s the lifeblood and the personality of your organization and is a mirror into the deepest machinations of what you do. In a healthcare setting, it’s also a basis for positive clinical outcomes and can be reflected in internal communications, operations, and ultimately, client satisfaction. Past generations cared far less about company culture than the current one does. If the culture doesn’t suit them, or if it is so poisoned by poor leadership that it is counter-intuitive to a well-aligned working process, they will move on, maybe sooner, maybe later. On the other hand, if it lines up with their idea of mission, purpose, work-life balance, and is a good fit for their higher sense of altruism, you likely won’t have to worry about them leaving for greener pastures.
A Sense of Purpose, a Sense of Place
Millennials prefer positions where they are fully engaged and feel that they can make a difference. No doubt, when you are looking to hire for executive or high-level medical positions, this is what you want, too. Nobody wants to walk into somebody else’s nightmare.
Organizational alignment is paramount to maintaining your edge as an employer to be reckoned with. How do you stack up? If you are interested in speaking to one of our medical headhunters about your recruiting needs, call Pact and Partners today.