July 31, 2016/ News
Born between 1982 and 2000, Millennials are a generation raised by Baby Boomer parents. These Millennials were brought up with the ideals that anything can be accomplished with a little hard work. In terms of population size, Millennials have officially taken over Boomers in the workforce all over the world. Recruiting Millennials can be a tricky task.
Amidst being brought up in a world that is full of crises, Millennials are strongly defined by social, economic and environmental factors but surprisingly remain full of esteem. A previous article by Newsweek referred to Millennials as “The Screwed Generation”, however if you speak to a Millennial, their positive spin on life maybe infectious. Millennials are a resourceful and technologically savvy bunch and for that reason they are all encompassing in being positive idealist, socially aware and conscious, confident and extremely entrepreneurial.
As millennials continue to define the workforce through their knowledge of new technologies, career aspirations and attitudes about work, attracting and retaining this pool of workers is critical for any business to succeed in moving forward in the 21st century. If you’re wondering why recruiting Millennials are so important then just think about all the Baby Boomers that are about to retire. By 2020, 50 percent of the global workforce will be formed by Millennials. Globally, Millennials may be larger in numbers but amongst countries of lower birth rates Millennials are seen to be in short supply. For this reason CEOs in multiple industries are making it clear that attaining and retaining these workers is and will be one of the biggest human capital challenges faced.
There are many characteristics of Millennials that employers should keep in mind when looking to attract these members of staff. One defining characteristic of Millennials is that are technologically savvy and digitally connected. Technology for them is second nature and not only have they mastered the use of smartphones and social media but they also have an expectation that job information and processes are easily accessible and instant.
There are many reasons why Millennials are the way they are. Not only are they embracing and adapting to advancements in technology but they are also constantly exposed to the globally economy and in a sense are marred by the global financial crisis. These experiences have made it so that Millennials focus more on their own needs within a career or work and are increasingly skeptical of the needs of an organisation.
Within an organisation Millennials also tend to shy away from corporate structures that are tirelessly hierarchical. They want to be valued as employees and expect to take on a role that is multifaceted and all encompassing to satisfy their needs. This style of corporate management is not traditional and may involve a reassessment of how an organisation is structured.
On a more personal level Millennials are highly ambitious and move fairly quickly within an organisation.Their approach to work is defined as flexible and having the ability to move around. Strong leaders that are able to empathise and manage these workers are needed provide regular appraisals, motivation and recognition. To put it plainly, Millennials may see your company as a consumer brand. Is the price right? What is the product that they are offering me? Can i get it better somewhere else?
The current profile of the global workforce is changing at a faster pace then ever before. To keep up with these changes organisations need to evolve. For some companies change will be difficult because the way in with they operate are ingrained in their corporate structures but for others this may be a simpler transaction. Many companies have been successful in doing this. Amongst the top tired companies are Google and Apple. Given that these companies are at the forefront of innovation, their corporate structure is reflective of their way of operating. Both companies don’t specifically target Millennials but their product is able to attract younger talent whilst their company ethos helps retain staff longer then most companies.