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Finding, Hiring, and Retaining Young Employees, Sidebar: 14 Facts About Millennials

In 74 of the Most Interesting Facts About the Millennial Generation, career and workplace expert Dan Schawbel highlights interesting points that distributors can use to shape their Millennial recruitment approach. When it comes to employment, Schawbel offers these 14 interesting facts:

 

  1. By next year, Millennials will account for 36% of the U.S. workforce and by 2025, they will account for 75% of the global workplace. 
  2. 41% of Millennials do what their managers tell them to do, which is greater than older generations. 
  3. 84% say that helping to make a positive difference in the world is more important than professional recognition. 
  4. Millennials say they do not deserve special treatment and are equally as committed as non-Millennials. 
  5. 92% believe that business success should be measured by more than just profit. 
  6. Millennial employees have about the same level of organizational commitment as Boomers and Gen X’ers. 
  7. 40% of Millennials think that blogging about workplace issues is acceptable. (Compared to 28% of Boomers.) 
  8. 29% of Millennial workers think work meetings to decide on a course of action are very efficient. (Compared to 45% of Boomers.) 
  9. 80% of Gen Y (another name for the Millennial generation) said they prefer on-the-spot recognition over formal reviews, and feel that this is imperative for their growth and understanding of a job.
  10. It costs an average of $24,000 to replace each Gen Y employee. 
  11. 15% of Gen Y’s are already managers. 
  12. 56% of Gen Y’s won’t work at a company if they ban social media access. 
  13. 69% believe office attendance is unnecessary on a regular basis.
  14. Average tenure for Gen Y is two years. (It’s five for Gen X and seven for Baby Boomers). 
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