From Collector: Working with Millennials
How to attract and retain millennials in the accounts receivable management industry.
3/15/2019 8:00 AM
Millennials, born in the 1980s and 1990s, make up the largest portion of the U.S. workforce today. Thanks to the media, here are some things we know about them: They’re obsessed with avocado toast and the color pink. They’re frequent job hoppers. They can’t stop texting.
Clearly millennial stereotypes abound, but when it comes to attracting and retaining this generation of workers, it’s best to look past the labels and focus on some of their core beliefs—which, it turns out, may not be so different from the wants and needs of other generations in your workforce, Collector magazine Managing Editor Anne Rosso May reports in the March issue.
For tips on recruiting and developing millennial employees, we checked in with Judy Johnson Gray, chief human resources officer at State Collection Service. Here are some of her strategies.
Spell Out Career Development Opportunities
Career development and advancement opportunities are hugely important to all employees, including millennials. They want to know not only if your company can help them develop their professional skills, but also what kind of future they might have if they stuck with your company for the long term.
That’s why in employee interviews, Johnson Gray makes a point to highlight her company’s track record of promoting from within.
“We say: ‘Come for a job, stay for a career,’” she said. “That’s something we put in our ads and we talk about it with applicants in interviews too.”
Last year, State Collection Service launched a written career path program that enables employees to see what their next job in the company could be. Not only has it helped longtime employees develop a plan to reach their goals, but it’s also become a key part of the company’s recruiting efforts.
Highlight Community Service Partnerships
Millennials are looking to make a meaningful connection with their communities, and they expect their employers to play a big part in this, Rosso May reports.
Do you offer charitable opportunities for employees?
At State Collection Service, the answer is yes. The company hosts many volunteer opportunities and fundraising events throughout the year—raffles, potluck dinners and pancake breakfasts abound, not to mention opportunities to volunteer at food pantries and participate in charity runs and walks, just to name a few. And for the most part, employees are directing which nonprofits they want to help.
“Each office does something different,” Johnson Gray said. “We don’t tell them what to do. They pick something that suits their community. They are always so generous and really have fun raising the money.”
A study conducted by the Boston College Center for Corporate Citizenship found that offering volunteer opportunities helps employees feel positively engaged with their company.
“We’re proud of the charitable giving our employees do, and that’s why we post about it on our Facebook page and on our website,” Johnson Gray said.
This not only serves as positive reinforcement, but also attracts candidates who are looking for a company that values community involvement, Rosso May reports.
Subscriptions to the Collector magazine digital edition and email notifications for each new issue are available for ACA International members by logging in to ACA International’s website here. Members and nonmembers can also purchase a print subscription. Nonmembers can create a guest profile on ACA’s website to subscribe to available publications.
Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to email@example.com. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse. Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training website to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.