The term Millennial refers to employees between the ages of 15 and 35.  There are currently 92 million millennial workers worldwide, as opposed to 61 Million Generation X  employees and 77 Million Baby Boomers.  The Millennial work force has its own unique career preferences and ambitions.

Here are 5 ways one can shape your business to make it more Millennial-Friendly and in doing so attract and retain your Millennial Talent:

  1. Offer competitive salary and growth opportunities

Millennials need to know that they are being fairly remunerated and that there are growth opportunities within the organization.  It is therefore important to give your young employees a reason to stick around.

“In a study by PWC on millennials in the work place,  44 percent of millennials polled noted competitive wages as a motivating factor to go with an employer, 52 percent cited growth opportunities. So if you want to make your company attractive to millennials, foster their ambition and drive.”

  1. Maintain transparency

Millennials grew up with technology, which has created a culture of transparency. Millennials therefore expect the company they work for to be upfront.   Announcing decisions without any explanation might leave this generation feeling uneasy. Millennials are more engaged and committed when management shares why decisions are made.

  1. Ditch the hierarchy

If your company has a traditional hierarchy, try “flattening your organizational structure.”  By doing so, the Millennials will feel like they have a voice.  It’s important to highlight their accomplishments and let them know you value their insight, which will motivate them to go above and beyond for your business.

If millennials see people getting promoted over others based on longevity with the company over performance, it will almost certainly discourage them.  It’s important to help them better understand their overall career trajectory and to offer training.   According to Forbes, millennials don’t want to wait three to five years for a promotion, contrary to their baby boomer coworkers.

  1. Make sure millennials feel connected to the brand

Millennials are a great resource to strengthen your brand, but only if they believe in the overall message of the company. Having happy millennials in the workplace can lead to a boost in your company’s social media presence.Give your millennial employees a reason to share what your business is doing, and it can help you naturally boost your company’s social presence.

  1. Strengthen the company’s digital presence

The first thing your prospective millennial employees will do before an interview is Google the company. If your business is lacking in digital presence, millennials might be wary about applying. It could imply that the business is behind the times or unwilling to evolve. “Invest not only in how you engage clients and consumers online but prospective employees as well, so they have a strong understanding of your company’s mission and culture. According to Inc., 62-percent of millennials are more likely to become loyal to a company if they can engage with the brand on social media.