Attract the Best Talent: Trends in the Workplace
Talent acquisition, is there any easy way to achieve that?
One obvious reason why a person accepts one job offer over another depends on what gets them closer to what they want. That’s why it takes in-depth research to figure out what your target candidates are looking for. Here are the signs, the trends that are shaping today’s workplace to help you with talent acquisition.
Talent Acquisition Focus Group: The largest generation in the labor force
The U.S. has the third-largest labor force in the world. Millennials have surpassed Gen X’ers (33%) and Baby Boomers (25%) in their workforce last 2016. They took up 35 percent of the then five-generation workforce. This marked the decline of the older populations. Meanwhile, Gen Z projects to be the largest generation to come. They entered the workforce at an impressive five percent. Already, they are looking into work prospects well before entering college.
Leading Characteristics and Behaviours
More than 2,000 demographers attended Population Association of America’s annual meeting. They discussed the latest population findings as of April 2018.
Millennials have the shared experience of social institutions failing them. They entered into the 2008 recession and the rise of contractual work among many things. They were also born into the first consciousness of the power of social media. So, they grew more vocal but less politically inclined.
Moving back home after moving out is pretty common for the twenty-somethings. It happens to one in every three adults of this generation. There is a marked decrease in the belief of viewing their first jobs as a career. Views toward work have changed. They no longer believe in working hard towards a retirement plan. Now, they value meaningful jobs and living for today.
Concerns over deaths by overwork exhaustion is rising. The gig economy provides unsteady work prospects. Millennials have turned to super-saving their way to retirement. They start as young as 22 years old! However, they are still predicted to work two decades longer than previous generations. This is due to large student debt and underemployment.
Dubbed as the “cheapest generation,” they raise concerns of delayed adulthood and lack of financial independence. Millennials struggled with the economic recession. They also spend less than their predecessors. In effect, there are rising numbers of multigenerational households. Millennials veer away from buying homes and cars. They choose to rent condos in metropolitan areas instead.
Although initially characterized as entitled and financially illiterate, later studies describe them as young, underemployed, and optimistic. They value experience and relationships over material possessions. Their obsession with smartphones paved the way to the “sharing” economy. Think AirBnB’s to Grabcars to pre-loved clothes. Whether out of necessity or by choice, their investment habits have considerably changed. They focus on spending for experiences instead of financial security. The last market crash stung them. They are less likely to save through institutions. They keep their money safe in their sock drawers.
The younger generation following them, the younger siblings or children, are more independent. They learned from the millennial problem of educational debt and helicopter parenting. Furhtermore, they also have more faith in long-term investments and social institutions. They are entering into a booming economy. Despite this, they show signs of following the minimalist lifestyle. They may be the toughest market to sell to, but they are the best to work with. The difference between Millennials and Gen-Z’ers is that the former are constantly challenging the systems while the latter choose to work within the system. Those who belong the Generation Z view technology as a way of life, not as playthings. They are dubbed the Millennials on steroids.
So, how to hire a qualified team fast for startups?
Taking these notes in mind, you now have an idea on how to make your workplace more attractive to this generation. A workplace that empowers them to be more vocal, with meaningful work and open spaces perfect for sharing in a metropolitan area. These are what today’s applicants want. What are you waiting for? If you lack the resources to build on this, then you could check out our outsourcing solutions here at Anderson Group BPO, Inc.
Other Options for Talent Acquisition: Outsourcing Talent
Small businesses may not have the time or resources to make a full-scale hiring campaign. Another solution to help business expansion is to outsource teams. We have plenty of ready teams offering services such as chat, email, telephone calls, or social media. We make them instantly available for your business, at the fraction of the cost of the entire in-house hiring process. If you need a team for developing strategies or want further business help or consultancy, Anderson Group is more than happy to assist you!