Being a millennial can be tough. It’s a perfect storm of negative circumstances for 20-somethings: a sluggish economy, a record number of college graduates seeking white-collar work and a recent financial crisis that wiped out the retirement savings of older workers, preventing their jobs from turning over on schedule. By all accounts, the supply of professional jobs comes nowhere close to meeting the demand of young job seekers.
What people are not seeing is that when the supply and demand curve changes it becomes favourable to the supplier of jobs. With so many qualified, ambitious young people out of work, small businesses have a once-in-a-generation opportunity to recruit from a large pool of top talent. Why are millenials your best choice when hiring?
The decision to hire a 22-year-old without a lot of work experience isn’t one that's likely to lead to short-term profits. Employers can find it a more time-intensive effort to bring a new graduate up to speed as opposed to onboarding someone who knows their way around the workplace. But when this activity is viewed as an investment, finding the right young person in this job market can be a decision that pays dividends for years. Joel Caparella, vice president of marketing for Yoh, a Philadelphia-based staffing and recruiting firm offers reasons why hiring a millennial could prove beneficial for your company.
The double-edged sword of natural collaboration
Studies show that millennial managers are more likely to build culturally competent teams that ignore race, gender, sexual orientation, age, and physical abilities, among other characteristics. This diversity of perspectives can drive stronger decision-making and should be encouraged.
For example, when diagnosing IT problems at work, 61 percent of millennials said they don't immediately call company support. Instead, 71 percent have turned to Google for a solution at least once. And while some IT departments balk at the potential risk of this approach, it's often faster and more efficient.
The love-hate relationship with social media
Having grown up with Instagram, Facebook, Twitter and other social media platforms, millennials have no qualms about sharing their lives as they happen. In doing so, they can build their own reputations as well as that of their employer. Plus, they may be more willing to invest in creative solutions in anything they tackle -- even in quitting their jobs. The best managers are able to tap that creativity and millennials' ability to command an audience.
The need to fill a Purpose
Millenials don't just want a job: They want to make a difference. An MTV study showed that 83 percent of millennials want to work for a company that values their creativity. More than 90 percent are motivated to work harder if they know where their work is going and 92 percent expect feedback in this environment. Managers have no excuse for withholding an explanation for even minor tasks.
The highlight of being a business owner or an employer is the ability to take certain risks. The market has never been so buoyant for employing youths. Perhaps it is time for you to take a chance with millenials.