According to a Gallup survey, Millennial employees want to work with employers who care about their well-being; this includes career, social, financial, community, and physical well-being.
Forward-looking pharma companies understand the importance of incorporating millennial values in their hiring practices and the company culture. It is no surprise that the pharma industry is changing to meet these evolving dynamics.
As a biopharma leader or hiring manager, embracing the following millennial values can help you attract and retain top culture.
1.Be open and transparent
Many millennials were born at a time when financial literacy was not as pervasive as it is today. As a result, some were tricked into taking on student loans or buying things with high interest. As they became more aware of the financial dynamics, they became warier.
Like any other part of their lives, millennials also want transparency in their workplace. They don’t want to be tricked into doing things that they shouldn’t be doing. They want fair and equal pay and want to enjoy a good work-life balance.
The world is changing around us fast and is becoming a melting pot where people from different cultures come together to share their experiences and solve everyday problems.
Doctors, nurses, pharmacists, and clinical trial managers from different parts of the world are working together to provide medical solutions for the masses. When hiring, ensure you create an inclusive environment and provide equal opportunity to all applicants.
In the biopharma industry, there is zero-tolerance for unethical practices. However, not many companies pay heed. Companies are aware of the blind spots yet they choose to move ahead knowing their decisions could have consequences (no matter how minimal). Millennials care about people and the planet earth. They want to become part of the companies that have gone green and those that care about the people in their communities.
According to a recent Transamerica Center for Health Studies (TCHS) survey, 21% of Millennials delay seeking treatment when they are sick. Employers can be stringent in providing sick leaves and time off to employees. Millennials are sensitive to financial costs. They would rather stay sick than seek medical help because healthcare is costly. Ensure you are providing healthcare benefits to all your employees.
Are you looking for high-performing and diverse millennials to join your team? Executive search companies can provide access to an A+ talent team and guide you throughout the hiring process.