What is next for university students and how are you capitalising on it?
By 2020, 50% of the workforce will be constituted by millennials. What are you doing about it now? Here are 7 things to consider when devising recruiting strategies towards this segment:
1. 54% of Millennials expect to have 2 to 5 employers in their career and another 25% expect to have 6 to 9 employers overall. Loyalty is thus not a millennial’s forté and they aren’t afraid to jump ship if their job does not meet their needs. Graduate employers will thus need to be acutely aware of what this generation looks for if they want to secure top talent for the years to come. Following the financial crisis, they’ve clearly seen that corporate loyalty doesn’t bring in long term security or fulfilling rewards like older generations did.
2. 95% of respondents in PwC’s report claimed that work life balance was extremely important and that millennials would generally favour employers who offer remote and flexible working hours.
3. 59% of millennials stated that an employer’s provision of state- of- the art technology was a consideration factor when looking for a job and 78% of them proclaimed that access to technology that they like to use makes them more effective at work.
4. Millennials are about a lot more than just money! Opportunities for career progressions and greater decision making – were most valued by 52% of them. The opportunity for personal development ranked high as well, with 65%!
5. It’s the norm these days for employers to boast about strong records of equality and diversity, but 55% of millennial respondents felt that organisations, while good at talking about it, don’t necessarily make opportunities equal for all.
6. Strong coaches and mentoring opportunities are most valued by millennials and look forward to these opportunities when employed.
7. Finally, 71% of millennials are excited by international exposure in their career, and would value an employer who provides this sort of element.