By the end of 2014, 36 percent of the U.S. workforce will be comprised of the millennial generation, and by 2020 nearly half (46 percent) of all U.S. workers will be millennials (Lynch 2008). By comparison, the generation before them, Generation X (Gen Xers), represents only 16 percent of today’s workforce. The sheer volume of millennials, combined with the relative lack of Gen Xers and the increasing retirement of baby boomers means that employers will be facing leadership gaps (Brack 2012). These gaps will most likely be filled by those of the millennial generation.
The transition from the baby boomers to the millennials forces organizations to understand the workplace preferences of the millennial generation if they want to recruit and retain top millennial talent (Doyle 2014, 8). Organizations that begin planning now for the best way to transition and promote the millennials into leadership positions will have a better chance of retaining their top millennial talent.
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