Recruiting Millennials in the New Year
As we embark on a New Year, many people are embracing change. It could be a change in their everyday habits like losing weight, or most pertinent to the recruiting industry, a change in job. The U.S. Bureau of Labor Statistics reports as of November 2016, 5.5 million jobs were open, up 17% from two years ago. [i] Candidates now have the upper hand in the job market, not employers. This makes the recruiting process more complicated than ever. Thus, it’s harder to attract and hire highly-skilled professionals that are willing to stay for the long-run.
These days the largest span of the workforce is the millennial generation (adults ages 18-34), which is by far the hardest to capture longevity. More than 1 in 3 American workers are part of the millennial generation. [ii] Top talent in the workforce is predominantly people in this age range not looking for a new career. 67% of workers said that they would consider a job offer from a recruiter regardless of whether they had been considering a career move.[iii] 1 in 10 millennials would take a new job if they were offered a 20% increase in their salary.
How does this effect recruiting in the new year?
Companies need to focus on the priorities of the millennial generation to entice some tenure in the workforce. Some of the top things graduates of the class of 2016 are looking for in jobs include: personal growth, job security, good benefits, and a work-life balance.[iv] And as the Baby Boomers start to retire, the Millennials are going to be the predominant part of the workforce. And with such a fickle generation, it’s necessary to move quickly in the hiring process.
One of the easiest ways to overcome some of the challenges in today’s workforce is to seek help. Utilize your network and reach out to people that understand your field of work and what you desire in a candidate. The consultants at Artemis can take some of the challenges of the hiring process out of your hands and do the hard work for you. Don’t let the top candidates get away- contact us for help retaining the top talent.
[i] Job Openings and Labor Turnover – November 2016, U.S. Bureau of Labor Statistics, Jan.10, 2017
[ii] Pew Research Center analysis of U.S. Census Bureau data
[iii] When It Comes to Hiring, Wait for Resumes or Cast a Wide Net? Robert Half, Oct. 18, 2016
[iv] The Class of 2016 Student Survey Report, National Association of Colleges and Employers, Oct. 2016