Tag Archives: millennials

81% of Businesses Expect Growth in 2018

Good news for job seekers! There’s reason to be optimistic about the economic outlook for the new year. In a recent poll conducted by RefreshLeadership.com, Express Employment Professionals’ blog for business leaders, most respondents said they predict growth in 2018.

Of those who participated in the poll, 23% say they will see “exponential” growth, 58% plan on “moderate” growth, and 16% said they would remain “steady, but unchanged.” Only 2% of businesses predict a decrease in business volume—a nearly 4% decrease over 2017’s predictions.

These results continue a positive trend that has been observed over the last three years of the annual poll.

“There’s a lot to be optimistic about in 2018,” said Bob Funk, CEO of Express. “For the third year in a row, there is a drop in the number of people who expect business activity to decrease, and the number of companies that predict growth continues to increase. Although there are still challenges on the horizon, like the widening skills gap, overall indications point toward a strong year ahead.”

So, what are some trends to watch in 2018 that could have a major impact on the job search?

The skills gap is widening
Across most industries, there are jobs to be found. However, candidates with the skills to fill in-demand positions are becoming fewer and far between. Attracting and retaining top performers continues to be one of the highest priorities for businesses as more than 42% say it is “somewhat” or “very” difficult to recruit for and fill positions, according to Express’ first quarter 2018 Job Insights Survey.

In fact, results of the survey indicated that the top three reasons business leaders say jobs are going unfilled are lack of applicants with experience, a shortage of applicants in general, and applicants not having the necessary hard skills. You can pull ahead of the competition by using online or community college classes to develop new skills.

Millennials are staking their claim to leadership roles
According to the Hartford Millennial Leadership Survey, 80% of millennials identify themselves as business leaders, and 69% aspire to be business leaders within the next five years. And there are many factors that point toward this generation being successful in their endeavors.

One of the key strengths millennials bring to leadership roles is their tech savvy and ability to integrate new technology into the way their companies operate. They are also one of the most diverse generations in the workplace and actively seek out purpose-driven initiatives or ways to support important social and charitable causes with the work they do. Regardless of whether you are a millennial or not, this heavy millennial presence will necessitate learning to work with others from different generations.

Baby Boomers are redefining retirement
Research from Bloomberg indicates that the boomer generation are increasingly opting to delay retirement. About one-third of workers say they expect to work past age 70. And statistics from the Bureau of Labor Statistics project that by 2024 “36% of 65- to 69-year-olds will be active participants in the labor market.

From trying out new jobs to exploring entrepreneurship to mentoring younger generations of workers, the path to retirement is becoming less traditional for baby boomers. Businesses that actively embrace and help facilitate the changing retirement needs of older generations stand to benefit from the knowledge and experience they bring to the workforce.

Only time will tell what 2018 has in store for businesses and the economy, but there are many signs that show cause for optimism. Early preparation and forward-thinking strategies are the key to putting your company on a strong foundation for the new year.

Millenials and the Job Search

MillenialsJobSearch_Sept2013_webOut of all the generations in the workplace, the Millennial generation seems to be the most talked about and researched today. Those born between 1980 and the late 1990s have shocked and awed the professional world, earning themselves a variety of titles, including “the most innovative generation” and  “the most entitled generation.” But, love ‘em or hate ‘em, Millennials are changing the workplace and causing business leaders to question just about everything. What do they want in a job? How do they approach the job? How do millennial employees want to be managed?

Turnover and Retention
Last month, Beyond.com, a career network for advancing professionals, and Millennial Branding, a research and consulting firm, provided new data that could help answer these questions. Their national survey, “The Cost of Millennial Retention,” specifically looked at Millennials, also known as Gen Y, turnover and retention from the employer’s view. Here are a few conclusions about Millennials, based on their findings:

•    Millennial workers are on the move – 30% of companies surveyed reported losing 15% or more of their Millennial employees in the past year.

•    They aren’t afraid to change jobs if they aren’t getting what they want – companies are implementing programs to entice Millennials to stay, including workplace flexibility (48%), mentoring (40%), and internal hiring (37%).

•    Millennials will do what’s best for their career – the top reasons for Gen Y employees to leave their jobs were that they had received a better job offer, their career goals didn’t match with their employer, and the company didn’t offer career growth opportunities.

•    Millennial professionals use a variety of tools for their job search – recruiters connect with Millennial candidates on job boards and corporate websites (62%), as well as LinkedIn (9%).

Share Your Thoughts
These stats provide some good insight into how Millennials approach their career, which affects everything from their job hunt to what they need to stay with an employer. With these findings in mind, share your opinion on how Millennial workers want to be managed in our monthly poll.
If you’re a Millennial, do you think these statistics accurately portray you? How do you think any job seeker, no matter their age, could use this information to help them in their job search? Please share your thoughts in the comments section below.

Poll: How Do You Think Millennial employees Want to be Managed?

Job Seeking and Career Advice PollA Google search on “Millennials in the workplace” returns more than 2.4 million results, reinforcing the impact this generation is having in the business world. Millennials have proven their ability to contribute in the workplace and mingle with the other generations, but it’s still a hot topic of conversation.

Born between 1980 and the late-1990s, the 80 million members of the Millennial generation are a force to be reckoned with, outnumbering even the Baby Boomers. But when it comes to their desired management style, we want to hear what you think. Vote in our poll to tell us how you think Millennials want to be managed.

Infographic: Job Jumps and Career Changes

The millennial generation was born, raised, and influenced by technology.

Just as quickly as technology changes and evolves, the focus of millennials also changes as new information and opportunities are continually made available to them.  And, according to Forbes, they’re the same way in their careers.

Check out this infographic from Notre Dame Online outlining the millennial mindset of the workplace and the nature of their work ethic. This information can help millennials research their next career move before making costly career leaps. And even if you’re not from Generation Y, you can learn how they think and what’s important to them so you can learn to build better working relationships with your millennial co-workers.

Do you agree with the infographic’s depiction of the millennial generation? Let us know in the comment section below.

Millennial Job Hoppers

Generations and the Job Search: Who’s Having a Harder Time?

When it comes to the job market, there’s been a lot of talk about how grim things are for two different spectrums of the labor pool. Recent reports show that both new grads and mature workers are likely to have a hard time finding work right now.

The U.S. Bureau of Labor Statistics says that over 1 million people 55 and older are unemployed and looking for work. Many mature workers are delaying retirement due to the recession. The AARP Public Policy Institute reports that the ones who are looking for jobs will typically search about a third longer than those younger than 55.

But this year, things also look tough for the college crowd. In fact, the National Association of Colleges and Employers’ reported that employers expect to hire 22% fewer new graduates than in 2008, and internship hiring is also down by about 21%. Experts say that in an expanding labor pool, new graduates typically have less experience than others in their industry who are now also looking for work, lengthening the job search process.

When it comes to generations in the workplace, the Baby Boomer generation and the Millennial generation have different values and views, but in the job search, experts say both generations must adapt to a quick learning curve and apply every job search tactic available to bolster their chances of landing a gig. So, we want to know what you think.

Have more thoughts or insights into these two generations on the job hunt? Do you fall into one of these two groups and have a story to share with us or a question to ask? Share your feedback in the comments section.