As your baby boomer employees continue to age out of the workforce, the younger end of your workforce spectrum is populated by millennials – the 80 million young adults born between 1976 and 2001. By 2020, they will make up more than 40 percent of the global workforce, and by 2025, this percentage will have skyrocketed to 75.
Look out, employers. The millennials are here to stay – and if you hire, nurture and develop them properly, they represent exciting growth potential.
Who Are These Millennials?
Millennials are typically hardworking and eager to learn. They place top priority on jobs with good chances for both career progression and personal growth. In a recent Forbes survey, 52 percent of millennials said opportunities for career growth made an employer attractive. An additional 65 percent noted that personal development was the most influential factor in their current positions.
Here’s what millennials look like:
- They’re tech savvy. This generation grew up with the Internet and social media. They naturally switch their attention between platforms such as laptops, smartphones and tablets an average of 27 times per hour. This compares to 17 times per hour for the previous generation. Millennials can not only uncover, operate and recommend the most advanced technology, but they also can teach others to use it.
- They’re motivated by more than money. 37 percent of employers surveyed recently by Monster.com reported that work-life balance and flexibility were the most motivating factors for millennials on their payrolls. By comparison, only 17 percent claimed compensation as the primary driver.
- They’re innovative. Millennials are self-expressive and not afraid to put new ideas out there. This translates into strong brainstorming and risk-taking capabilities, as well as success at generating new solutions. Remember, they grew up with the likes of Steve Jobs as their role models.
- They’re team players. Collaboration comes naturally to millennials. Constantly connected with the world around them, they tend to have an enhanced sense of community and desire to help others. This gives them a strong group mentality and manifests in enhanced cooperation in the workplace.
As you develop your workforce for today, tomorrow and the future, consider partnering with the expert recruiters at CPS Recruitment®. We can help you strategize and implement the plan that works for you. Check out our information packed Resource Center or contact us today at 800-457-2500 to learn more.