Dan Corbett
Too often we see companies not effectively sell the full benefits of why a candidate would want to work for them. This missed opportunity comes from not understanding the desires of a candidate and only look at recruitment as matching a skill-set with an organisational need. Every business wants the best candidates to work for them, however, when a candidate is assessing like-for-like roles, how best can there be a differentiation to appeal differently to a candidate? One particular way to do this, that is particularly impactful for Millennial candidates, is to appeal to the non-monetary benefits of a job.
Money is always an important decision making factor towards attracting candidates, but when evaluating options and salary packages, are either negligible or negative. Prospective employers need to look at the other reasons for how they can engage and be appealing to a potential candidate. This is particularly relevant for Millennial candidates who will evaluate opportunities based on a mix of different factors. Evidence highlights the priority these candidates place on responsibility, development and relationships. Depending on how strong a company can sell their ability to provide these, Millennial candidates will opt towards inferior financial packages if these factors are satisfactorily met. Further, evidence shows that meeting these criteria has a significant correlation with talent retention over and above the hygiene factor of money.
This evaluation process that Millennial candidates take, highlights how thorough interviewers need to be with regards to offering a full mix of opportunities in a role. Companies need to ensure that candidates can build relationships with line managers and senior figures to understand the full range of benefits outside of just money. What this results in is a more positive experience with the candidate that leads to deeper emotional connection to the company that trumps decision making based on objective salary information. Treating a candidate’s experience in an interview process as a one directional conversation where only a skill-set is measured and only salary package is the benefit of the role ultimately leads to an inferior outcome. To get the best quality recruitment outcome, clients need to engage with all the reasons why a candidate will want to work with them.
We specialise in project services, business and process improvement. If you would like a confidential discussion on how to progress your job search or career, or you’re having difficulties bringing the right resources to your team, please contact us.
Dan Corbett
Consultant
Project Resource Partners
Level 7, 360 Collins Street, Melbourne VIC 3000
T +61 3 9949 8100 D +61 3 9949 8105
E dcorbett@projectresourcepartners.com.au