The struggle is real. With unemployment hovering nationwide around 5%, employees are back in the driver seat with where they choose to work. Employers have found themselves with less control in finding, hiring, and retaining top talent. Recent studies from Manpower Group has shown that there is an excess supply of skilled jobs, with a shortage of labor interested in those jobs. Couple this study with the fact that employees, now more than ever, are looking for value and purpose in their work, more of a balance with their personal life, and the feeling that their work is aligned with their own career long-term goals.
And, with a growing millennial generation that is expected to be 75% of our workforce by 2025, this trend is very likely to continue. What we know about millennials is true, they are self-driven, demand value and purpose in their work, and transition jobs at a rate much higher than previous generations, averaging 4 job changes by the time they are age 32. We are not going to change them, they are going to change our workforce, and in many ways, for the better. They saw their parents live to work, lose their retirements due to corporate greed, and have been shown very little loyalty by organizations they work for with pensions eliminated, benefit reductions, and inappropriate vesting schedules of their 401k plans. I can completely understand why this generation has chosen to respond with choosing to work to live. It’s refreshing.