Millenials in the Workforce : What You Need to Know in Order to Successfully Recruit and Retain Them

Abstract

As the baby boomer generation continues to retire from the workforce, the younger millennial generation will gain more of a presence. This generational shift within the workplace has created a need for companies to reassess their recruiting and retention strategies. Since millennials have recently outnumbered baby boomer and generation X employees in the workforce, their work values and expectations of employers have become the overwhelming majority. The corporate world must evolve their strategies in order to coincide with these new values and expectations. Since millennials place immense importance on receiving perks and benefits within a casual and flexible work environment, businesses must realize the need to transform their workplace. If the corporate world does not place the same importance on meeting millennials' requirements, recruitment and retention will prove to be extremely difficult, ultimately affecting the businesses overall success. Through developing an understanding of the new generational shift and the separate generations in the workforce, a foundation is formed. This foundation proves to be crucial to understanding what makes millennials tick, and what they desire within the workplace. An analysis of millennials* work style, attitudes, and expectations, along with an analysis of three corporations, is essential to determining the best and most successful strategies for recruiting and retaining millennial employees. in