As baby boomers continue to retire, many vacancies in your work force will be filled by the next generation: millennial workers. Current estimates forecast that millennial workers will comprise 50 percent of the labor force by 2020 and 75 percent by 2025.
There is no doubt that recruiting the millennial generation can bring hardworking, enthusiastic employees who are eager for new opportunities to your company, but recruiting and retaining these workers is different than it was for prior generations. You can make the most of millennial workers by taking a new approach to recruiting and retention.
According the Gallup Study, “The State of the American Workplace,” millennials are the most disengaged of all working generations and the most likely to say they will leave their jobs in the next 12 months if the job market improves. However, while nearly half of actively disengaged millennials want to find new jobs, only 17 percent of engaged ones do.
So, how does an employer engage its millennial workers? Millennials who are engaged usually have a strong sense of what their organization stands for. Find ways to help these employees verbalize and internalize what the company’s mission and purpose means to them.
Additionally, the 2012 study, “Maximizing Millennials in the Workplace,” conducted by the University of North Carolina Kennan-Flagler Business School, offers four suggestions.
The study found that millennials want their employers to have four critical traits, including:
Recruiting and retaining employees from this generation can be different than traditional techniques previously used by many organizations. Here are some ideas for recruitment and retention.
Whatever the look and feel of your organization, recruiting and retaining the future of your workforce is essential. For more assistance and information on how to do so, contact Apex Benefits today.
Since 2003, Apex Benefits has built a reputation on providing customized, calculated solutions that aid our clients in making effective benefits decisions for their employees. We believe that a company is only as good as its employees, which is why our team works with you personally to find employee benefits plans that truly benefit your company. We’ll provide the tools, resources and expertise to aid in benefits decisions, creating a continuous conversation about strengthening your workforce and making your business better.