Key Statistics of Millennials in Today’s Workforce
Millennials became the largest generation in the workforce back in 2016, according to Pew Research, with American workers ages 23 to 38 as of 2019. And they are forecasted to make up around 75% of the U.S. labor force by 2030, according to the BLS.
Researcher’s fascination with the millennial generation has only grown over the years, with the profound impact they’re having in today’s organizations. Here is some of the leading research to help you adjust your business accordingly:
- Millennials are the least engaged generation, with only 29% engaged, 55% not engaged, and 16% actively disengaged.
- Millennials change jobs more often than other generations, and 43% envision leaving their jobs within two years while only 28% seek to stay beyond five years.
- 44% of millennials say they are more likely to be engaged when their manager holds regular meetings with them. (Only 21% of millennials meet with their manager regularly.)
- A majority of millennials agree with the statement that businesses “have no ambition beyond wanting to make money.”
- They’re 22 times more likely to want to work for you for a long time when they believe their company has a high-trust culture.
According to the research, millennials are looking for organizations that prioritize company culture, employee engagement, and open communication with leadership. Check out more key research about millennials in the workplace here.
Recruiting new talent can be overwhelming. Contact us to learn how we can help you find the right talent for your organization.