A new generation of employees is poised to enter the workforce, but unlike the generation before them, this workforce grew up in a technologically driven socio-dynamic where social media platforms and smartphone devices reign supreme in every-day life. They are the Millennials and they have very different career expectations, motivations and skills in comparison to their predecessors.
Employers are faced with the challenge of appealing to this tech savvy generation of potential workers, many will enter the workforce with degrees under their belts, attracting and retaining these workers will be a juggling act. Employers who aren’t prepared or who are unwilling to adapt to this generation of future employees run the risk of missing out on extremely talented employees who will make up 50% of the workforce by 2018.
ConnectEDU in conjunction with Achievers has released the annual Class of 2014: Your Next Generation of Top Talent report which offers valuable insights into what employers can do to lure this generation of workers and what these individuals want from prospective employers as well. This survey accumulated data from 15,000 soon to be graduates and asked them a series of topical questions in regards to their own perspectives about their future employment aspirations.
A consistent trend has emerged in this report for the fifth year in a row and that is, the future workforce favours workplace rewards that they can choose from like travel rewards (7.5 out of 9,) choice of gift card (5.1 out of 9,) and financial rewards (6.1 out of 9.)
Additional trends include when respondents were asked what were the definitive factors they considered when looking for work. The findings are ranked out of a score of thirteen:
- Company culture ranked 7.2
- Career advancement ranked 9.8
- Mentoring and training ranked 8.7
- Managerial etiquette ranked 7.5
- Salary ranked 9.4
Feedback is also important to future workers. A large amount of respondents (80%) stated that they expected immediate feedback in regards to performance based reviews as well.
Managerial qualities also tops the list for the next generation of workers, respondents to this survey stated the following in regards to qualities they expected from prospective employers:
- Regular checkpoints to log current engagement (42%)
- Leadership on career advancement within the company (64%)
- Expert mentoring (66%)
- No mentoring (7%)
- Personal mentoring (27%)
- Support with corporate ideals and goals (40%)
Other results of this survey show that employers need to be mindful when it comes to going about employing graduate Millennials. They need to reflect their job search habits because a large majority of them (60%) intend to approach companies directly in search of employment and other recent graduates plan on attending job fairs (45%)
That’s not the only thing this report encourages employers to watch out for. Only a small amount (3%) of the future workforce will use social media platforms like Facebook, even fewer (2%) will use Twitter to look for jobs. These platforms may rank highly amongst HR professionals and employers, but that’s not where future workers will scope out employment opportunities after graduation.
These graduates are also very positive in regards to viewing their chances of securing employment after graduating. 72% of the individuals that were surveyed stated that they felt confident about finding work after graduation which is a very refreshing outlook.
This report highlights that the values of companies need to meet the standards and expectations of future workers. Engagement, employment and retention are all areas that employers need to pay close attention to in order to fill job positions within their companies with Millennials.
Supporting this new workforce using direct management strategies, following their job search patterns, and catering to their keen taste for career advancement are just a few ways employers can secure the interest and commitment of the next graduate workforce generation.