Recruiting and retaining Millennials depends on understanding who they are and what they want and having a Millennial Talent Management Strategy.
Who are they?
Millennials are those born in the 80s and 90s more or less, basically the 20-40 year old work force. Millennials now make up just over one-third of the workforce (more than the Bookers or Generation X) and by 2020 Millennials will form 50% of the global workforce.
Described in many ways: ‘hopeful’, ‘narcissistic’, ‘nomads’. These digital natives certainly are tech-savvy, connected, mobile, and social. As opposed to previous generations, the millennials are much more attracted to on-demand work, and flexibility of all flavors. As compared to Gen X, this cohort is considered by hiring managers to be much more open to change (72% Millennials vs 28% Gen X), much more creative, money-driven, and adaptable, with a bit more of an entrepreneurial attitude. Millennials are a bit less confident (46%) than Gen X (54%), and much less team players (27%) as compared to Gen X (73%), according to KPCB’s Internet Trends 2015.
Millennials in the Workforce
It’s a candidate’s market with low-tech unemployment and companies battling it out over the same employee pool in many areas. The Millennials have come of age and (more…)