Attracting the best young talent
by Annabel Cooper
As the baby boomer generation retires, we look at what companies in Bermuda should be doing to attract the best young talent.
According to the November 2018 Labour Force Survey Report, there are 10,050 people aged 55 and over currently employed in Bermuda and, says Malika Taylor, a Partner at Expertise, this “huge bubble of baby boomers are set to retire over the next five to eight years”. What therefore can companies do to make themselves attractive to the younger generation of potential employees who could fill this vacuum?
“This young, tech-savvy generation is truly, in almost every way, different,” said Kelly Francis, president of Performance Solutions Ltd. She explained that communication has changed, their experiences have changed and their resumes have changed. “It’s being prepared for how different they are so you can employ them in a space they recognise.”
The baby boomer generation is currently aged between 55 and 75. Next comes generation X, who are 40 to 54 and then it’s the millennial generation who are 25 to 39.
Ms Taylor points out that the younger generation is not necessarily more tech-savvy than their older counterparts because everyone, regardless of age, uses so much technology in their daily lives, but the difference is in how they communicate and what they expect from a company they work for.
It’s “telephone versus Snapchat, Facebook versus Instagram, this is where we’re seeing the generational gap. How they communicate, not how they do their jobs,” she said.
Ms Taylor said that when trying to attract young dynamic talent, understanding social media is vital. “Using social media as a platform to attract talent is by far the best way to attract millennial talent,” she says. “Facebook, LinkedIn and Instagram.”
Ms Taylor also said that while everybody is looking for fair and competitive compensation, the generation coming into the workforce are also interested in being employed by companies
with socially and ethically responsible business practices.
“In addition to being paid fairly, they want to work for an organisation where doing things in the community will have an impact,” she said, adding that people are asking questions about a company’s diversity and inclusion practices.
Trey Sanders, global HR manager at LOM Financial Group, said they had recently changed the tone of their recruitment adverts and company handbooks to make them chattier and less formal, writing instead in the way people speak.
“Having an engaging tone and making young people feel valued will intensify their employee experience,” he said.
“Globally, LOM are now primarily recruiting on social media and being transparent about the salary range on offer on the adverts.
“We are one of the only companies to do this in Bermuda, Cayman and the Bahamas. Younger people appreciate this full transparency and we are seeing more job applications from them as well.”
Mr Sanders added that younger employees enjoy facilitating social events: “LOM recently had a day out for our Bermuda employees researching and understanding the conservation being done on Trunk Island and specifically work in protecting the Bermuda Cahow. The staff enjoyed the experience and appreciated the opportunity.”
The younger generation wants “to do a great job and be socially and ethically conscious”, Ms Taylor said.
This article was originally featured in the TOP TEN 2019 edition of the RG Business Magazine.