14 Facts Staffing Agencies Need to Know When Recruiting Millennials
Make sure to mention avocado toast when you reach out to Millennial candidates. Jokes aside, Millennials became 39% of the workforce recently. These facts about Millennials in the workplace will be useful to you as you create a strategy for recruiting Millennial workers. Keeping these facts in mind as you design your recruitment marketing and candidate engagement strategies will help your staffing company make faster placements too.
In this article:
- The state of the Millennial workforce
- The importance of diversity in recruiting Millennials
- Recruiting Millennials by using values
- The financial picture of Millennial workers
- Recruiting strategies for Millennials
The state of the Millennial workforce
Millennials are the least engaged generation. A lack of transparency, autonomy, and impact at work makes workers unengaged, more so than previous generations. This can cause workers to leave companies after staying for just a year or two.
This generation has a reputation for bouncing from job to job. Workplace culture is the culprit. Transparency in the workplace makes Millennials 22x more likely to retain as long term employees.
The importance of diversity in recruiting Millennials
44% of Millennials are not caucasian. Make sure to provide anti-bias training to your recruiting teams. Unconscious bias research showed that applicants without anglo names have to apply to 2x as many jobs to get an interview.
Millennials are 16% more diverse than baby boomers. In the marketing material, your staffing company produces, make sure to represent a variety of ethnicities, ages, and genders.
47% of Millennials use diversity and inclusion to evaluate employers. If your staffing agency has helped your clients to improve diversity numbers make sure to talk about that on your website. It’s important to share that information in your marketing materials as well. Supporting D&I goes over really well with Millennial candidates.
Recruiting Millennials by using values
84% of Millennials value making a positive impact on the world more than professional recognition. As a generation, these workers are looking for more purpose in their work. They look to work for opportunities to make impacts on their team, company, and ideally the world.
Compared to previous generations 20% fewer Millennials believe companies behave ethically. While looking to work for opportunities to make a positive impact, these workers paradoxically don’t believe companies make positive impacts.
69% of Millennials are motivated by diverse working environments. As the most diverse generation in US history, it’s no surprise these workers want representative environments. Data also shows that diversity in the workplace leads to better business results.
Sharing how your company behaves ethically in your recruiting process will help persuade and attract millennial talent. You’ll also want to make sure you develop a diversity and inclusion program if you haven’t yet and do employee storytelling around ethics, values, and diversity.
The financial picture of Millennial workers
Millennials on average, make 20% less than the previous generation. The average salary of a Millennial worker is $47,034 a year. In the economic recession, Millennials experienced wage depression and a contraction in entry-level opportunities.
As a generation, Millennials owe $1 trillion in student loans. This is the highest student loan debt in US history for a generation. This debt holds Millennial workers back from buying property, getting married, and forming households.
66% of MIllennials have no retirement savings. The financial crisis, student loan debt, and the growth of gig economy jobs that provide no retirement programs have resulted in lower net worths for this generation.
What salary goals are MIllennial workers targeting? Workers aged 21-37 reported a salary goal of $80,000. However, many Millennial workers are unsure about how to find full-time work, don’t feel confident about navigating the hiring process or about their ability to add value.
One way to help is to be transparent about salary ranges for your roles. This will help build trust in Millennial candidates and attract them to working with your staffing company.
Recruiting strategies for Millennials
To engage the new workforce, you’ll also want to consider how to create a consumerized and convenient candidate experience. You need to reexamine your entire recruiting process. To be effective, you’ll need to change the places and methods you use for recruitment marketing and job advertising.
Making changes to your website to add in more employee stories, information on diversity and inclusion, and engaging video content is necessary too. You’ll also want to optimize your process for mobile and reduce the number of steps it takes to submit an application with your staffing company.
Finally, you’ll want to consider how to strategically use a mix of recruiting automation, conversational AI, and 1 to 1 recruiter communications to create a positive candidate experience and make placements quickly. Combining recruitment marketing and text to apply with conversational AI is one of the best practices for hiring millennials that’s been proven to be effective.