It’s no secret that Millennials are one of the most desired cohorts for recruiters. Millennials often have specialized skills and passion that make them valuable to employers, yet many are unemployed and hard to reach. Why? The answer lies in truly understanding who they are and how they can be targeted. Here are 5 ways that Millennials are changing the recruitment industry.
1 - Largest Cohort in U.S. History
There are a lot of them. Millennials are the largest cohort in U.S. history and they have unique preferences that can be targeted just like every other generation. As more and more Millennials enter the workforce, recruiters need to change their recruitment practices to better target and acquire these people.
2 - Educated but Unemployed
79% of millennials have earned at least a bachelor’s degree, as compared to 62% of baby boomers (Business Insider). Last February, the Millennial Jobs Report found that the U-6 unemployment rate for 18-29 year olds was 12.8% while the national unemployment rate was just 4.9%!
“It is good news that more young Americans are finding work, but millions of millennials are still struggling to catch up with the rest of the workforce.” - Generation Opportunity National Spokeswoman Patrice Lee
3 - Passive Job Seekers
Even if they are employed somewhere else, they are still constantly looking for jobs. 54% believe that they will have between 2-5 employers with another 25% saying more than 6! Furthermore, 26% of Millennials say that workers should only be expected to stay in a job a year or less before looking for a new position compared to 41% in their Baby Boomer counterparts (Business Insider).
These people are constantly looking for jobs. Building recruitment pipelines that reflect this will be the biggest problem that recruiters must solve.
Approximately 1/3 of companies reported losing 15% of their millennial workforce in 2015 (tinypulse.com) and 52% say that corporate loyalty is outdated (upwork.com). Recruiters, especially those with high turnover positions, need to take these trends into consideration and change practices accordingly.
4 - Digital Natives
Since Millennials grew up in a technologically dominated world, it is no surprise that they are digital natives. Here are a few statistics that show this trend:
- Per a 2015 Talent Trends Report, 62% visit social media for job information.
- 41% of Millennials prefer electronic communication over physical methods (PWC).
- 43% of Millennials believe that they should be able to apply for a job on a tablet while 39%believe they should be able to apply on a smartphone (Center for Generational Kinetics)
- If you don’t have a mobile optimized website, you may be preventing as much as 45% of your potential talent pool from applying to your open positions (Glassdoor)
- Millennials (along with other professionals) like to use phones in their job search
Millennials increasingly want to be able to reach companies on different channels such as mobile and social.
Companies and recruiters need to adjust their marketing and recruitment efforts to better reach these digital natives.
5 – Personalization, Optimization and Convenience
Millennials, more so than other generations, yearn for personalized, optimized and convenient experiences. What this means is that recruiters need to be able to personalize campaigns at scale, optimize them for multiple devices and make them easy and intuitive experiences. This can mean integrating SMS into recruitment efforts, geo-targeting specific areas, adopting a mobile-first mindset and creating quick, bite-sized digital experiences that recruiters can follow up on.
Mobile Talent specializes in mobile-first recruitment that can help scale your Millennial recruitment efforts. Through placing targeted ads based on role, region and brand you can acquire and retain the attention of this elusive cohort. Try Mobile Talent by going to www.mobile-talent.com or email us at firstname.lastname@example.org