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Millennials make up 36% of the U.S. workforce.
By 2020, this generation will be nearly half of all workers. There are an estimated 80 million Millennials overall – and their priorities in the workplace are not what you’d expect.
A comprehensive study by the Pew Research Center found that Millennials place a higher priority on helping people in need (21%) than having a high-paying career (15%).
According to Forbes, The Ivey Business Journal, and Intelligence Group, the following professional drivers are more important than salary and benefits for Millennials.
Top Drivers for Millennials:
- Giving Back and Being Civically Engaged
- A Boss that Acts as a Coach or Mentor
- A Collaborative Work Environment
- Flexible Work Schedules
- Work-Life Balance
- Feedback & Engagement
- Professional Development
- Personal Projects
- Leadership Opportunities
The misconceptions surrounding Millennial hiring can be harmful to the bottom line. Consider the following benefits of hiring Millennial talent:
- Enjoy praise over pay – 80% would rather receive feedback on a job well done (Time)
- Enjoy collaboration and working as a team over solo work
- Flexible, mobile, have the ability to pick up and go, open to new opportunities and locations
- Can offer insight into new target audience: Millenials more relatable to generation that is online
- Extremely comfortable with technology, all social media platforms (the average grad switches their attention between media platforms as many as 27 times per hour, according to Forbes)
- Greater ability to multi-task as a result of constant technology plug-in
Keep ahead of the demand for top talent by aligning your business strategies and goals with those of Millennial workers. Understanding the wants and needs of candidates of all types is an essential recruiting practice.
For more information on focusing on the Candidate, see our Infographic: