They may not hold keys yet, but millennials are the key to the future of business

The boomers have come a long way, baby. While the baby boomer generation, identified as those born during the mid-1940’s to mid-1960’s*  made up the vast majority of the workforce for decades, 2011 marked the year of the ‘Grey Spike**’ the first boomers hitting 65 – or retirement age.(*Wikipedia, Baby Boomers) (**National Post, Census Canada Aging Population)

As a result, according to Peter Irwin, president and CEO, Canadian Professional Sales Association, Canada’s workforce is seeing a dramatic realignment. Irwin offers tips on how to attract millennials to the corporate sales force. Timely advise, as Statistics Canada reported** that the millennial generation will hold 50 percent*** of Canadian jobs by 2020.(*The Globe an Mail, How to attract millennials to your salesforce) (**Stats Canada, The Canadian Population in 2011: Age and Sex) (***Wikipedia, Millennials).

– Millennials will hold 50% of jobs by 2020 –

By 2030, the youngest baby boomers will reach age 65. British Columbia is in a unique position, with an older on average age structure, and Statistics Canada projects that BC’s senior population will exceed the national average over the next 25 years. (*Vancouver Sun, B.C.’s senior population expected to exceed national average: StatsCan)

In Canada, millennials now number 9.6 million* and account for 27 percent of the total population. In addition, those numbers are expected to rise with increasing immigration. (*Environomics Analytics, Millennials: The Generation Du Jour)

– Millennials…account for 27 percent of the total population –

Boomers are starting to disappear from the workforce and millennials now represent the largest generation* in the Canadian workforce. (*Raven Hill Group, Millennials Canadian Workforce)

An important characteristic of the millennial generation is that they are the first generation to be born and bred in the digital age.  They engage in social media daily* – almost constantly – much more frequently than even Gen Xers, now aged mid-thirties to late forties.  Engaging with them on their native turf is key when marketing to millennials. (*Thrive Hive, Market Business Millenials)

Engaging millennials as employees, businesses must be aware that this generation is also the first to eschew the traditional structures of the typical office environment. For millennials the traditional office–and physically commuting there to inhabit a desk for eight hours, has become negotiable. A staggering 70 percent of millennial employees in Canada report that they would rather telecommute. (*Raven Hill Group, Millennials Canadian Workforce)

Being natives of the digital age, millennials are arguably the most tech-savvy generation to date. They are also different from predecessor generations in the respect that they tend to value experiences over possessions*, such as experiential travel, or dining out.  (*Medium, NOwnership, No Problem: Why Millennials Value Experiences Over Owning Things) (**Notable Life, Millenials Love Avocado Toast & These Other 9 Things The Most)

Most distressing to management is that when millennials are not happy on the job – they leave. Millennials are a generation of workers who want to feel appreciated in the workplace.  

– When millennials are not happy on the job – they leave –

Attracting millennials and keeping them engaged is now a necessity for every business. No more is a one size fits all approach working for attracting the newest top talent.  Businesses need to adapt their strategies to appeal to this generations independence, entrepreneurial spirit, desire for work-life balance, and drive to make a difference.

Outback Team Building and Training has worked with some of the world’s top companies to help them build a culture that helps to attract and keep the most sought after upcoming talent.

Don’t wait until all of the top talent is already working somewhere else, you need to be working on attracting the right employees today.

Outback Team Building and Training has given us their guide for engaging Millennials so you can continue to build your business.