When it comes to hiring, millennials are killing it – USA Today post
By: Paul Davidson USA TODAY
If you think there is age discrimination going on in the hiring process, you’re probably right. There are a number of tactics you can take that will help you in this regard, and there are more than a few strategies as well. This article will show you the plans that companies have for 2020 in regards to hiring in the different age ranges. Interesting read!
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If there really is a generation war raging in the workplace, millennials may have already won.
Seventy-two percent of talent professionals say they plan to focus on recruiting millennials (ages 24-39) over the next five years as opposed to other age groups, according to a LinkedIn survey of 2,406 U.S. hiring managers conducted Aug. 24-Sept. 30.
Gen Z (under 24) came in second (57%), followed by Gen X (41%) and baby boomers (13%). The results are part of a global talent trends survey of 7,000 hiring pros in 35 countries.
A report on the survey suggests it’s no surprise millennials and Gen Z are the most coveted pools of job candidates since they “make up roughly half of the world’s population” and are “the newest generations on the scene.” Boomers, meanwhile, are retiring in large numbers, with about 10,000 a day hanging it up.
It’s Gen X (40-55), however, that companies are trying to keep. Sixty-three percent of the talent professionals say they’re focused on retaining that generation, followed by millennials (54%), baby boomers (46%) and Gen Z (28%).
“As baby boomers (56-74) begin to slow down their career or retire altogether, companies will look to a more seasoned pro to step into these vacant leadership positions,” says Amy Schultz, director of product recruiting at LinkedIn.
Other survey findings:
• The average tenure at an American company for both boomers and Gen Xers is 18% longer than the overall average. Millennials’ average tenure is 42% shorter.
• The top three reasons millennials leave their jobs are higher compensation (57%), more opportunities to advance their careers (46%) and switching to a job that’s a better fit for their skills and interests. The top three for Gen Xers are higher compensation (40%), the ability to make an impact (37%) and leaving for a job that’s a better fit (32%).
• Companies are doing more hiring from within. Internal hiring has increased by 15% since 2015. That’s largely because employees stay an average 10% longer at companies that do lots of internal hiring, the study says.
• Gen Z workers are more than three times as likely as boomers to be in part-time or contract roles.
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