Companies and organizations seeking to attract the best and brightest talent need to know what kind of recruitment will draw these individuals to their door. Many such professionals will be found within the group who attained adulthood during the 2000s – the demographic popularly known as Millennials or Generation Y. If you want to ensure your business’s prosperity by adding these brilliant Millennials to its future, however, you’ll first need to understand how this group sees what the future holds for them.
Learning how Millennials see their future is one of the things Universum sought to find out when it recently teamed up with the Head Foundation and INSEAD to research Millennials across not just from the U.S. or Europe, but in over 43 nations. The modern global business world requires a global understanding of talent, and just as each culture has it own preferences and viewpoints, so do the Millennials who represent the future of those cultures.
Overall, Millennials in many nations feel good about their ability to surpass the incomes and opportunities their parents received. African Millennials expressed the greatest optimism on this point, with 54 percent of respondents. Central/Eastern Europe and Latin America followed close behind at 55 percent and 48 percent respectively. By contrast, only 20 percent of Western Europeans and 28 percent of U.S. Millennials expected to exceed the previous generation. These latter groups also showed only mild optimism about the prospect of early retirement – as opposed to 46 percent of African Millennials, 45 percent of Latin American Millennials, and a whopping 58 percent of APAC Millennials.
One major concern rings true for Millennials as a whole: being burdened with an unsatisfying or stagnant career. Forty percent of Millennials listed the prospect of getting stuck in a go-nowhere job as their greatest single fear, while 32 percent of them also worried about failing to achieve their career goals or finding a job that matched their personality.
What do these numbers mean for your employer branding and talent attraction efforts? Primarily, they point toward emphasizing dynamic careers and boundless potential for advancement over less exciting issues such as starting salary, career stability, and benefits. Millennials believe that they have a stake in a brighter future than their parents had – which only makes them more afraid they’ll knock on the wrong door and never take advantage of that potential. It’s up to you to show them that your organization values their future as highly as they do.