It’s time for your company to confront the most significant emerging workforce dynamic faced by employers in more than 20 years: the on-boarding, matriculation and retention of an entirely new generation of workers- the millennials. According to data from the UNC Kenan-Flagler Business School, in partnership with the Young Entrepreneurs Council, this generation will compose 36% of the US workforce by 2014 and 46% of the workforce by 2020. TalentWoo shares 4 key findings that demonstrate why a recruiting and retention strategy for “Gen Y” is crucial for your organization’s long-term success:
- They are more tech-savvy than previous generations, switching their attention between media platforms (ie laptops, tablets, mobile, tv, etc.) 27 times per hour. That’s almost 60% more than previous generations.
- They are more connected and collaborative, with 52% having more than 300 Facebook friends. The proliferation of social media and the need for companies to exploit its reach plays right into the strengths and preferences of this up-and coming work force.
- They need meaningful work, with more of them prioritizing “work that matters” over a high salary. This represents an amazing opportunity for cash-strapped or early-stage start-up organizations.
- They are more entrepreneurial, with 35% of them having started a side-business (and almost that many doing so while still in college). This represents yet another opportunity for start-up employers or those seeking independent-minded, creative, innovators.
See this amazing graphic below to understand the who, how and why of managing Gen Y workers…
For a complete talent acquisition solution that incorporates social media recruiting to attract millennial employees, contact TalentWoo today. Our unique recruiting SaaS solution includes targeted e-mail marketing campaigns, LinkedIn recruiting, as well as social media integration which employers can leverage to double their employee referral rates.