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Four tips on attracting and keeping millennial employees

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Four tips on attracting and keeping millennial employees

Jonathon Kofler, Head of Marketing at Access Self Storage 

Millennials are stereotyped as job hoppers with no loyalty to the companies they work for – switching employers in a bid to climb the career ladder as quickly as possible. However, this may be a myth.

One recent study found that nearly 90 percent of millennials are actually looking to grow their careers within their current companies. Another report found that 77 percent of millennials would be willing to take a salary cut in exchange for long-term job security. However, this doesn’t mean you can take the loyalty of millennials for granted; they have unique expectations and attitudes which you must handle if you want to make good use of their various skills and aptitudes.

By 2020, millennials will make up a third of the global workforce. It’s essential that you know how to get the best out of them; with the right care and attention, they can become loyal brand ambassadors and be a key part of your business as it grows. Here are some key tips on attracting – and keeping – millennial employees.

 Harnessing millennial passion 

According to a survey carried out by Cone Communications, 3 in 4 millennials would take a pay cut to work for a socially responsible company, compared with 55% average across all ages. In fact, almost two-thirds would not accept a job from a company without a strong corporate social responsibility (CSR) model.

Millennials are a passionate bunch and feeling that they are working for a good cause will improve productivity and turn them into great believers in your brand. Developing a strong CSR strategy will help you attract and keep them, as well as harnessing philanthropic intentions across your organisation. It’s a win-win.

Regular check-ins 

According to a study by FTI Consulting, two fifths of high-achieving millennials want greater responsibility in people management within their current role. However, millennials often have their own set of anxieties associated with coming-of-age in an unstable economy with an inconsistent job market. It’s important to strike a balance between giving millennials independence and responsibility and providing support when needed.

Regular check-ins, with an appropriate balance between positive feedback and constructive criticism, as well as clearly-defined goals, can help millennials succeed and feel as if they are valued.

Similarly, millennials place value on being regularly rewarded for hard work. A quarterly, rather than yearly, bonus system could work in your favour, as could regular salary reviews based on performance.

 Training and development

Millennials are the generation that want to better themselves, and so training and development is important. Nearly all (87%) of millennials rate “professional or career growth and development opportunities” as being important to them in a job. If you can ensure that the training is relevant to both your business and your employee, you’re on to a winner – you’ll be building skills that are specific to your needs, and you’ll create more trust with your employees.

The best way to do this is to speak to your staff and ask them how they want to develop. It’s also worth asking how they want training to be delivered – whether it’s via reading material, lectures, audiobooks, interactive quizzes or hands-on tasks. This will give them a sense of control over the training and could work to their strengths.

The all-important workplace social 

Once upon a time, all you needed was to reserve at table at the pub and get all your employees in for a drink. But millennials are drinking less than ever, so bonding in the boozer might not be the best way to secure their trust and admiration. Work socials are still important, though. They’re crucial for team-building and boosting morale.

A recent study by Eventbrite found that more than 3 in 4 millennials (78%) would choose to spend money on an experience over buying something. They want to have experiences rather than physical things – think yoga, escape rooms, adventure trails, karaoke, murder mystery and sports events. There’s a whole industry dedicated to workplace bonding and social activities, so you won’t be short of ideas. Plus, these events make for great social media content.

Millennials are a more unique workforce than ever before. They’re hard-working and conscientious – they want to develop in their career and to continue learning. If you harness them correctly, the benefits to your business in the short and long term will be excellent.

Business

On a retro style milk truck, London entrepreneur chases a ‘zero waste’ future

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On a retro style milk truck, London entrepreneur chases a 'zero waste' future 1

By Natalie Thomas

LONDON (Reuters) – Heralded by the whirr of its underpowered electric engine and the clink of bottles stacked in crates on the back, Ella Shone’s ‘Topup Truck’ started life ferrying morning milk to the doorsteps of bleary-eyed Londoners.

Twenty years on, and the light vehicle known as a ‘milk float’ – once a ubiquitous sight on British streets – is enjoying a second career selling a range of goods and serving the 32-year-old’s quest to rid the city of single-use plastic.

“The fact that I’m driving around in a milk float does a lot for raising awareness in the local area,” said Shone, wearing a black beanie during her rounds in the borough of Hackney last week. “So now I’m operating at almost full capacity.”

Furloughed from her sales job during the coronavirus pandemic last spring, Shone used savings to start her new business, aiming to meet growing demand for household goods free of the plastic packaging used in supermarkets.

Customers book a visit from the ‘Topup Truck’ online and then purchase goods such as lentils, pasta, olive oil, shampoo or washing up liquid using their own containers.

From a low base a decade ago, the market for such unpackaged bulk goods could hit at least 1.2 billion euros ($1.5 billion) by 2030 in the European Union, according to a report https://zerowasteeurope.eu/wp-content/uploads/2020/06/2020_06_30_zwe_pfs_executive_study.pdf by Zero Waste Europe, an anti-waste network.

While handling the logistics can be a challenge, Shone calculates that her service has eliminated the need for at least 12,700 pieces of plastic since it launched in August.

Planning a crowdfunder to retrofit her milk float to enable her to serve a greater range of products to more communities, Shone hopes her novel approach will inspire others to find creative ways to tackle waste.

“If we want to have real change, it has to be a collective effort,” she said.

($1 = 0.8218 euros)

(Writing by Matthew Green, Editing by Rosalba O’Brien)

 

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Lufthansa adds more summer holiday destinations in bet on recovery

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Lufthansa adds more summer holiday destinations in bet on recovery 2

BERLIN (Reuters) – Lufthansa is adding more holiday destinations to its summer flight schedule from Germany in anticipation of a strong rebound in bookings, it said on Thursday, betting COVID-19 vaccines and testing will soon make vacation travel possible.

Germany’s largest airline said it was planning to add around 20 new destinations from Frankfurt and 13 from Munich to locations such as the Caribbean, the Canary Islands and Greece.

COVID-19 vaccines and testing, along with strict hygiene rules at airports and on planes, will be prerequisites for travel this summer, it said.

“We expect many countries to relax travel restrictions towards the summer as more and more people have been vaccinated,” Lufthansa board member Harry Hohmeister said in a statement.

Hohmeister said the airline, which secured a 9 billion euro ($11 billion) state bailout last year, expects a sharp increase in demand once restrictions are lifted.

Concerned about more transmissible coronavirus mutations, many European Union countries have reinstated border controls in what is normally a passport-free travel zone.

“There is a great yearning for travel and we believe that the summer months will reflect this,” Hohmeister added.

In Britain, holiday bookings soared this week after the government laid out plans to gradually relax coronavirus restrictions, giving battered airlines and tour operators hope that a bumper summer could come to their rescue.

Plans for relaxing coronavirus travel restrictions have not been announced yet in Germany. Chancellor Angela Merkel is due to discuss lockdown options with the head of the regional governments next Wednesday.

Lufthansa, which said in January it was losing a million euros every two hours, is due to publish its fourth quarter results on March 4.

($1 = 0.8187 euros)

(Reporting by Riham Alkousaa and Ilona Wissenbach. Editing by Mark Potter)

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TRUiC Evaluates The Latest Additions to Registered Agents in the US

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TRUiC Evaluates The Latest Additions to Registered Agents in the US 3

The US is still the top choice for new businesses that have a global focus. That is not to say that they are all physically located there. Despite the pandemic creating challenges for startups seeking investment, many are still steaming ahead. More and more, companies from Europe and Asia dominate Amazon and other distribution chains in the US via a US registered entity that relies on a registered agent. What should you know about registered agents?

When forming an LLC, there are a few additions to registered agent services in 2021 that could be extremely helpful to ensure that you always maintain your privacy, never miss important mail, and make you aware of legal obligations that may occur without being too costly or complicated. When you are launching a startup as an entrepreneur, it is vital to decide which registered agent service as they act as a point of contact between a business and a state and will greatly benefit your small business in the long-term.

In short, a registered agent will primarily act as your business’s main channel of communication with your states’ government. A non-profit, corporation or LLC can appoint a registered agent service to receive government correspondence, compliance documents on behalf of the business, and service of process – which is arguably the most important role of a registered agent as this informs an entity or individual of an impending lawsuit against him/her or the company.

Suggested video – What is a Registered Agent by TRUiC:

Next will be a review and comparison between the features of the best online business services of 2021 to see which is the top registered agent service when forming an LLC:

Rocket Lawyer

Assisting in the formation of over 800,000 businesses, partnerships with experienced legal professionals like Rocket Lawyer makes for a great option to serve as your registered agent service, all thanks to their 100% satisfaction guarantee. Although their services cost slightly more, they can still provide a full year for free if you subscribe to their Accelerate legal service plan for $49.95/month. Additional benefits include:

  • The company is supported by Google Ventures
  • Norton Web Security Protection & Information website
  • Legal Services Pan which includes consultations with business attorneys

Incfile

Classified as high-quality registered agent services and boasting over 150,000 customers served since 200, Incfile offers lower prices and a free subscription for one year with any incorporation filing purchase. They also provide their clients with a user -friendly website, that is protected by Norton Web Security, and free information available in their Learning Centre.

Northwest Registered Agent

If industry experience and premium customer support are important to you then the following might be the best service for you. Established in 1998, Northwest Registered Agent has made a name for themselves and is one of TRUiCs’ top picks as they are known to being the most friendly LLC service available. Not only do they provide the best email/phone support, but they also locally scan every document you receive, ensuring that you will never miss paperwork and eradicating surprises.

Harbor Compliance

Whilst getting great customer support and a unique dashboard, Harbor Compliance’s registered agent services will also offer discounts to their customers who pay up-front for multiple years and service to those in multiple states. Plus:

  • Website protection by Norton and Trustwave
  • Free compliance guides and whitepapers
  • Document delivery and scanning on the same day

ZenBusiness

After careful consideration of many other registered agent services, ZenBusiness has been rated best. This small business formation service was founded in 2015 by a team of entrepreneurs who cracked the code to the barriers that others continue to face today and help their respective clients launch their businesses successfully.

Not only will the start of your enterprise go smoothly, but they will also help you stay compliant with government laws, accept service of process and other tax and legal documents, and provide you with an overall peace-of-mind so you can focus all your time and energy on running your business.

LegalZoom

Although LegalZoom is the costliest of these options, they had to be mentioned as this registered agent service has extensive experience and capabilities with an informative and North Secure Website and a broad range of business services. Boasting with a large platform of nearly 4 million customers, LegalZoom may be more convenient for you if you have other legal services operating through them as well.

Why should you designate a registered agent service for your business?

By appointing a suitable registered agent service you will be able to maintain your privacy, be alerted to legal obligations that may crop up without breaking the bank or complicating things, and these registered agent services will ensure that you never miss a beat when it comes to crucial paperwork and delivery of important documents. There really aren’t many downsides to working with an online registered agent service provider, and the penalties for not having a registered agent heavily outweigh the cost.

 

This is a Sponsored Feature.

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