Tech companies in Silicon Valley are known for their great workplace cultures and wealth of career development opportunities. That’s why they attract the best millennial talent from across the globe.
The tide is beginning to turn, however. Australian tech companies are starting to draw young people back into the fold. A PwC survey found that Australia came third in its list of countries that millennials would most like to work in. Meanwhile, Melbourne came 14th in Savills Tech Cities report of the best cities for tech companies to be based.
What can Australian tech companies do to continue this trend and attract top millennial talent?
Melbourne is one of the top ranking cities for tech companies to be based.
1) Purpose comes before paycheck
88 percent of respondents to the PwC survey claimed they wanted an employer with corporate social responsibility (CSR) values.
Gone are the days when a tidy stipend and a few corporate bonuses were enough to inspire loyalty. Millennials want their work to have a purpose – 88 percent of respondents to the PwC survey claimed they wanted an employer with corporate social responsibility (CSR) values.
For Australian tech companies, looking at how your business can have a positive effect on the world around it is key to attracting young people. Tesla, for example, was recently praised all over the world for its help restoring power to Puerto Rico after Hurricanes Irma and Maria. While not all businesses may be in a position to do this, ensuring your company is involved in environmental and social initiatives is a great way to show younger candidates they’ll have a sense of purpose if they work for you.
You could consider getting involved with Talent Rise – a foundation we created to try and find meaningful solutions to Australia’s youth unemployment problem. Our programmes put employers in touch with young people to help get them back into the workplace.
Many millennials are looking for companies with strong corporate social responsibility initiatives.
2) Mentoring matters
Development is among the top concerns of young people starting work, and the chance to collaborate with strong mentors came top of the list when it comes to these training opportunities, PwC reported.
You should ensure you’re providing employees the chance to collaborate with those at the top of your organisation, so they can benefit from your considerable experience and expertise. It’s also important to let candidates know about these initiatives in the recruitment process.
3) Care for your culture
One of the main reasons Silicon Valley is so successful at attracting millennials is its workplace culture. This is something Australian tech companies should be working on too. Ensure you have a strong employee value proposition that rewards staff for their hard work, and emphasise collaboration across all levels and areas of your organisation to really impress millennials.
Talent has years of experience putting employers in touch with the best candidates. Contact us today for more information.