Also known as Generation Y, millennials are the 80 million young adults born between 1976 and 2001. This highly ambitious population group places top importance on jobs with good chances for career progression and personal growth.
By 2020, millennials will make up 46 percent of the global workforce, as older baby boomers continue to retire. By 2025, this percentage will jump exponentially to 75.
By welcoming millennials and using creative management techniques, you can acclimate them so they work alongside your baby boomer employees with amazing results and a seamless knowledge transfer for the ongoing success of your business.
Benefits of Hiring Millennials
Building relationships with millennials and giving them the opportunity to grow within your organization will reap the rewards of ongoing value and relevance.
Millennials can be:
- Eager to learn. Members of Gen Y are ready to learn what you want to teach them. In a recent Forbes survey, 52 percent of millennials said opportunities for career progression made an employer attractive. An additional 65 percent noted that personal development was the most influential factor in their current jobs.
- Tech savvy. This generation grew up with the Internet and social media. Millennials switch their attention between media platforms such as laptops, smartphones and tablets on an average of 27 times an hour. This compares to 17 times per hour for the previous generation. Generation Y can not only uncover, operate and recommend the most advanced technology, but also can teach others to use the necessary tools.
- Motivated by more than money. Thirty-seven percent of employers surveyed recently by Monster.com reported that work-life balance and flexibility were the most motivating factors for millennials. By comparison, only 17 percent claimed compensation as the primary driver.
- Naturally 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.
- Good team players. Collaboration comes naturally to millennials, whether this means leading a team or being an effective contributor. While some termed Generation X “The Me Generation,” Generation Y might be referred to as “The We Generation.” Spurred by life events like 9/11 and constant news feeds, they tend to have an enhanced sense of patriotism and desire to help others. This translates into more of a group mentality and increased cooperation in the workplace.
Charlotte: Millennial Rich
The Charlotte metropolitan region is among the best in the U.S. for Millennials, according to numerous recent studies. Forbes.com listed Charlotte at number 18 on its list of the top 25 cities for the population segment, with the Third Ward cited as the top neighborhood. Apartments.com listed Charlotte as its number 2 city for recent college graduates.
As Charlotte’s source for comprehensive recruiting solutions, Talent Bridge can partner with you to fill your sourcing needs at all levels, with specialization in talent management for accounting, finance, IT, mortgage support, customer care and financial services. Contact us today for more information.