FACTS YOU SHOULD KNOW ABOUT MILLENNIALS – and the huge impact they will have on the workforce and the market.

  • By 2020, 50% of the workforce will be comprised of millennials and their buying power is expected to be $1.3 trillion

Sources: Goldman Sachs, Millennials Coming of Age Entrepreneur.com, 2015 Forbes, 2015

 

  • According to The New York Times, “millennials want to work for companies with a strong sense of purpose. When the National Society of High School Scholars recently asked 18,000 millennials which companies they would like to work for, St. Jude Children’s Research Hospital, the CIA, NSA, and FBI appeared prominently on the list. This is nothing revolutionary. The most-talked-about generation wants more than just a paycheck from their jobs — they want to care about the work they do.”

Sources: The New York Times, 2016 NSHSS Scholar 2015 Millennial Career Survey

 

  • Despite a strong need for purpose, millennials are the least-engaged generation. 72% want to be their own boss and over 50% say their work environment has an influence on their health.

Sources: Gallup, 2014 Forbes, 2014 SHRM, 2014

  • We’ve become so focused on making sure our millennials are happy at work that we’ve forgotten something very important — making them experts at their jobs. 60% of millennials say they are open to new job opportunities, rather than job hopping.  It’s time to retain younger talent and empower them to run businesses. It’s time for to create more industry experts — not just inspired employees.

Source:  Gallup 2016

 

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