Demand & Supply
If you're a recruiter in 2015, you're likely to be sick to death of hearing the word “Millennial”. Millennials are the topic of decade, and the race is on to attract as many as possible, as quickly as possible. Entire recruitment conferences, training weekends, and software solutions exist solely for the purpose of educating employers and human resources departments about the benefits of the Millennial Worker. If you were born sometime after 1980 and are looking for a job, then good news – that's you.
It is estimated that by 2025, 75% of the global workforce will be made up of Millennials. Consequently, it has become increasingly important for companies to attract these workers now in order to ensure a competent and innovative strata of leaders and managers capable of steering the future of business in the right direction. Hiring managers often favor promising millennial applicants due to their ingrained ability to learn flexibly and perform efficiently, even if their past experience is still minimal. No matter what your target industry is, it's only natural that they will need to attract young, creative, digitally-skilled workers in order to survive.
Despite graduates often feeling like small fish in a large pond, feedback from large, international recruitment websites such as eFinancialCareers shows that candidates between the ages of 24 and 28 are in short supply. Advertised positions requiring less than 10 years' experience often pull in an average of 14 applications, compared to over 300 applications submitted for jobs requiring 15 years' experience or more. In an age where recruiters are actively targeting the 20-something demographic, the odds are definitely in the young applicant’s favor.
Millennial Jobs for Millennial Minds
The shift in modern industry, specifically in the field of technology, has often been attributed to the rise of the millennial consumer. So-called “on-demand” services, such as Airbnb, Uber, and Netflix, owe their success to the digitally-connected, on-the-go demographic that prefers flexibility and innovation over tradition. This is a trend that has come full circle to create and develop new industries and jobs that better fit the millennial profile. Young consumer habits have literally become the mold for entirely new careers!
The continued success of these industries and services cannot be explained without acknowledging the sudden influx of millennials as the largest generation in the modern workforce. This group's unique attitude toward the ideas of work and play has paved the way for a larger variety of employment opportunities than ever before, opening up the market to a diverse range of individuals, skills and personalities.
With the rise of the tech industry, many young people feel as though their only hope for a successful future lies in the STEM industry, for which they do not feel any particular passion, but this could not be further from the truth. Instead of discouraging students from pursuing majors in arts and humanities, smart modern companies will encourage these students to reinforce and redefine traditional subjects with digital knowledge.
Old Dogs, New Tricks
Evidence shows that even older companies are joining in the hunt for the millennial worker. Surveys done by Deloitte show that the majority of those born after 1985 tend to reject traditional organizational structures in favor of more flexible, creative environments, and businesses are beginning to respond. In order to attract young talent, corporations need to prove that they are innovative and that the work they offer is both personally meaningful and socially important.
Industries are learning that employee development programs must be ongoing, and that traditional methods of academic evaluation are no longer trustworthy as the gap between theoretical and practical knowledge grows among university graduates. Millennials expect a lot more from their workplaces than their parents did, and companies are starting to respond to their demands. There has never been a better time to be in your 20s, and smart companies looking to hire millennials celebrate that fact.
Eva Baranova is a wandering European nomad, formerly an HR Recruiter, currently based in sunny Malta. Her specialties include startup recruitment, unsolicited career advice, and spaghetti bolognese.