It’s common knowledge that millennials are tech-savvy, educated, and struggling to achieve financial independence.
And they’ve also earned a reputation for job-hopping. According to a recent study by Red Brick Research, more than half (53%) of hiring managers experience difficulty finding and retaining millennials.
The face of employment in America continues to change, and according to the US Bureau of Labor Statistics, millennials are expected to represent 75% of the workforce by 2030.
So with this stat in mind, we wanted to know—what do young workers value in an employer? How do these working newbies feel about their careers? And what are the implications of these trends for recruiters and hiring managers?
Using SurveyMonkey Audience, we surveyed more than 300 college-educated (and full-time employed) 20-somethings to better understand the future of America’s workforce.
Here’s what we learned.
1. They’re hungry for meaningful work
Above all else, 20-something employees want the opportunity to make a difference, but this desire does not come at the expense of compensation or work-life balance. Today’s young professionals want to have their cake and eat it too.
2. They’re experiencing professional FOMO
More than 80% of working millennials report some level of career anxiety, while nearly half believe they’ve experienced a quarter-life crisis. The data suggests that FOMO (fear of missing out) extends beyond their personal lives and manifests in their careers as FOBO (fear of better options).
3. They’re not loving their jobs
Under 30% of 20-something employees self-identified as “very satisfied”. So, how might employers leverage these 3 insights to better attract and retain 20-something talent?
- Clearly communicate the company vision and how individual roles fit into the big picture
- Routinely discuss career goals and how young employees can achieve them at your company
- Actively solicit feedback to understand what changes could increase employee engagement
Competition for 20-something talent is fierce, so understanding what drives them is of the essence. These strategies can help your business gain a competitive edge by keeping them engaged.
What’s your favorite strategy for attracting & retaining young talent? Let us know in the Comments section below.
Interested in reaching your own respondents? Visit SurveyMonkey Audience to get started today!