What Matters to Millennials? Hint: It’s Not About the Money

By March 24, 2015 June 22nd, 2015 NationaLease, Recruiting

As we deal with replacing our aging workforce of drivers and technicians, we need to look to a generation that’s looking for different incentives.

A recent article in FleetOwner.com disclosed the fact that millennials, those born after 1980, will make up the majority of the U.S. workforce by the end of 2015 and will make up a staggering 75% of the labor pool by 2030. That’s especially troubling for our industry which has a definite problem attracting these younger workers. Using recruiting techniques and incentives that used to work in the past just won’t do in the present. The article cites a survey which tracked the factors that matter most to this demographic.

  • 23% (the largest response) indicated that “the ability to make an impact on the business” mattered most
  • 20% were looking for “a clear path for advancement”
  • 16% would be interested in a company that provided “development and ongoing feedback”
  • Only 13% put income as their top priority

If you don’t believe that, consider this. A study by the Intelligence Group business consulting firm reveals that 64% of those under-35s surveyed would rather earn $40k at a job they love than $100k at a job they find boring!

Millennials want to know and agree with what a company stands for, and how they can play a role in the organization’s growth. The advancement of truck technology, in the powertrain and in the cab, will help draw in a group that’s used to being connected, 24/7. The article quotes Sandeep Kar, Global Director of Transportation for a global consulting firm, the highest growth rate in [OEM] R&D spending is within the cabin on driver comforts, connectivity, and convenience.”

Millennials place a high emphasis on health and well-being in their work environment as well, so companies that satisfy those needs are more likely to attract these younger workers. But first, you have to know where they are…and that’s anyplace that’s digital. If you don’t have an online strategy to reel in these under-35 workers, you won’t find them. They live in a mobile and social networking world and that’s where you need to be. Instead of emphasizing the salary, you might try to list those things that millennials find attractive, like travelling to new destinations; the ability to meet new people and have new experiences; and a greater sense of responsibility. Promote a better life/work balance and more flexible schedules. Just make sure not to oversell what you can’t deliver.

Read the full article here.

Jane Clark

About Jane Clark

Jane Clark is Vice President of Member Services for NationaLease. Before joining the full service truck leasing organization, she served in executive positions with some of the nation’s top staffing and recruitment agencies.

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