Earlier this week InSites Consulting hosted the Millennials at Work Webinar with Joeri Van den Bergh. A 30min live YouTube broadcast on how to attract, engage and retain Millennial talent in your organization. Missed it? Not to worry, the full recording is available for reply via YouTube.
Millennials (born 1980-1996) are entering the job market in increasing numbers. Estimations say that four years from now, Millennials will make up 50% of the global workforce. Raised differently and in different times, Millennials are not like the previous generations, both in their view and in their approach towards work. No less than 61% of seasoned HR professionals believe Millennials are hard to manage and unprepared for the workplace. Millennials themselves also seem discontent, with only 29% of employed Millennials currently feeling engaged with their work. As a result, 6 out of 10 Millennials leave their company after less than three years at an estimated cost to the organization of $20,000 per person to replace.
But while Millennials may not be prepared for the workplace of today, they are certainly more ready for the workplace of tomorrow. Compared to previous generations, Millennials are better equipped for a work context that is becoming more uncertain, more complex and more digitally fueled. In the expected war for talent, organizations should therefore understand how to attract, engage and retain Millennials.
Eager for more insights on how to build a Millennial-proof HR strategy? Get your download of the Millennials at Work bookzine.