Understanding millennials is important for anyone in HR. According to the U.S. Bureau of Labor Statistics/The Business and Professional Women’s Foundation, they will account for 36% of the U.S. workforce by next year. By 2030 it is predicted that number will rise to 75% of the workforce. These statistics are staggering, so what exactly do you need to know about this generation?
New Skills Brought on by New Talent
Millennials bring a different perspective to the workplace. According to a Forbes study, 74% of non-millennials agree that their generation offers different skills and work styles. This is an important factor in growing a collaborative business. It is understandable that varying work methods and ideas are increased through hiring younger generations considering that many of them are ambitious and driven.
Shift Towards More Educated Workforce
Millennials are one of the most educated generations with about 79% of them holding at least a bachelor’s degree. The higher education of millennials combined with their innovative critical thinking skills make them ideal job candidates. Degrees in areas such as engineering yield especially high job placement results, however many hold degrees in other specialized areas and have difficulty with finding jobs. This is an interesting statistic because the more specialized a degree can be, the deeper a knowledge it requires about the subject. This can be a huge advantage to companies looking to hire for a specific need when looking through a large pile of resumes.
Focus on Future Generations in the Workforce
A Forbes study also found that 74% agree that businesses should partner with colleges. If more businesses worked with colleges, this would ensure that graduating students have the necessary skills for their job. College professors will often try to achieve this by making sure that the skills taught in the classroom are relevant to the actual job which students will be going into, this makes their younger generation and future applicants even more ideal as employees.
Millennials are an innovative generation with varying values, beliefs, and work ethics. Their skills and high levels of education make them ideal work candidates which can help to excel your business. Millennials are not just a part of the workforce, they are the workforce.