By 2025, millennials, or Generation Y, will make up the majority of the workforce. But are they ready for it? And is the workforce ready for them?
We’ve pulled together some key stats from surveys by Deloitte, Goldman Sachs, Forbes and Payscale to find out what is in store for the next generation of business leaders, and help us to prepare for them.
Because, not only will Generation Y change the way companies structure and hire, they will fundamentally shift the way we buy and sell, reshaping the economy and changing the way we do business for decades to come.
Inevitably, this will result in a whole new set of challenges for employers, companies and organisations.
The infographic below reveals some insights about this confident, driven and connected generation that smart businesses will need to take on board when developing recruitment campaigns. From flexible working to fast tracking, Millennials have high expectations when it comes to climbing the career ladder. As well as fundamentally not accepting what has gone before:
“Millennials see chaos, distrust of management, breaking of contracts and bad news associated with business. They’ve watched their relatives get fired and their peers sit in cubicles and they think, ‘There has to be a better way’. - Fred Tuffile, director of Bentley’s Entrepreneurial Studies programme.
The good news, however, is that the workforce is about to be taken over by groups of people who grew up in a world where they have been constantly connected, and where working independently, flexibly and remotely comes naturally. This opens up huge opportunities for the structure of businesses, but also raises the question: what do we have to offer them?
A belief in their own success is a good place to start. Jason Dorsey, Millennial expert and author of Y-Size Your Business clarifies, “We just need to feel like you’re setting us up for success. Tell us the three challenges that we’ll have to overcome in the first year. That gets us much more excited.”
Perhaps the real challenges are what comes later, keeping this Uber and Tinder app-obsessed, commitment-phobic generation interested. For Millennials who are used to managing every aspect of their lives on the go, employers need to be ready from the outset, to engage them on their terms, and keep them engaged. And that is where effective recruitment processes come in. Processes that will ask the right questions, understand the opportunities available and offer positions that are in line with aspirations.
There is no denying that it is more important than ever.
The businesses that recognise how, where and when Generation Y prefer to connect and communicate will be on the front foot of recruitment. And that means attracting the most innovative, forward-thinking and dynamic of this digital generation. That’s why, at Net Recruit, we favour online recruitment methods over traditional campaigns. Because we understand that making the most of Millennials can mean the difference for your business.
You can find out more at net-recruit.co.uk or tweet us at @Net_Recruit to get involved in the conversation.
I'd say that your data points pretty clearly to mobile as the technology area recruiting has to master to get millenials on board. Thoughts?
Thanks for your comment Katrina. I would certainly agree. Mobile is becoming more and more important for employers and employees alike and businesses will need to provide seamless mobile journeys from search to application and beyond!
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