In fact, in less than 10 years, millennials are expected to account for 75% of the world’s workforce and already represent 1 in 3 employees in the U.S., based on data from Bentley University.
Gloria Larson, Bentley University president, noted how with baby boomers entering retirement, millennials are the here and now.
“Millennials represent 1 in 3 workers.”
“Millennials aren’t just the workforce of the future – more and more, they’re the workforce of today,” Larson explained. “Millennials represent a shift in behavior and attitude, from their comfort with technology to their knowledge of current events, that presents a huge opportunity for our economy.”
What’s more, contrary to popular opinion, millennials show a healthy dose of fidelity to their employers, not necessarily interested in so-called “job hopping.” The Bentley study found in a poll of 1,031 18- to 35-year-olds that 80% expected to work for four employers or fewer over the entirety of their careers.
Millennials are highly brand focused
For business owners, this raises the question of what recruitment strategies are best at drawing millennials? Intelligent brand messaging may serve as a good place to start, a recent study suggests.
Over 55% of worldwide job seekers think a company’s brand or reputation is more important today than it was back in 2011, a new report from ManpowerGroup Solutions has found. Perhaps unsurprisingly, millennials are the most brand-centric of all the generations, ranking brand among the top three drivers to take an interest in a company, the others being job responsibilities and salary.
“Today’s job seekers recognize they spend a significant amount of their lives at work,” said Kate Donovan, senior vice president of ManpowerGroup Solutions. “[A]s such, they want to ensure they align themselves with organizations that have great brands and a satisfying culture.”
One of the ways business owners can improve their brand messaging in order to attract millennials, the report suggested, is by taking advantage of the employees they already have. Every workplace has staff members who embody leadership. This intangible quality should be harnessed to help market the company through job fairs or even by participating in interviews. Other strategies include sending out invitations – whether through mailers or social media – to universities, welcoming soon-to-be graduates to visit just to see what a typical day in the office is like.
Millennials are not only 33% of today’s workforce, but are highly diverse, coming from a variety of backgrounds.