A Research eBook by:

A Recruiters Guide to

attract & retain

Millennials
2016 iCIMS, Inc. All rights reserved.

Much Ado About Millennials

Tomorrows workforce wont just include Millennials, it will be dominated by them.
By 2025, its projected Millennials will comprise three-fourths of the workforce. (1)

5m

However, every generation makes up the

M=million

What makes the Millennial

workforce different?

The Millennial cohort is

significantly larger than
previous generations,
and has unique career
preferences and ambitions.

P O P U L AT I O N

majority of the workforce at some point.

4m
3m

92 M 61M 77M

2m

Millennials

1m
15

20

25

30

Generation X

Baby Boomers

35 36 40 45 50 51
Age in 2015

55

60

65

70

Source: Goldman Sachs http://www.goldmansachs.com/our-thinking/pages/millennials/

As the Millennial workforce grows, companies will need to

change their recruitment strategies to stay competitive.
1. Brookings, http://www.brookings.edu/research/papers/2014/05/millenials-upend-wall-street-corporate-america-winograd-hais

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

Millennials: Theyre on the Move

One of this generations notable characteristics is its increased willingness to make career changes.
Eighty-three percent of Millennials are willing to relocate for the right job that provides them
with a higher salary or better advancement opportunities.(2)
Mean Organizational Changes

<24

25-29

41%

of Baby Boomers think

workers should stay with
an employer for at least
five years before looking
for a new job.

Matures
Boomers
Gen Xers

13%

ONLY

Millennials
0

0.5

1.5

2.5

3.5

percent of Millennials
agree.(4)

Number of Career Moves

Source: Psychology Today

By the age of 30, Millennials have almost twice as many job

and organizational changes as Gen Xers, and almost three times
as many job changes as the Baby Boomers and Matures.(3)
2. CareerBuilder & Inavero Survey
3. Psychology Today https://www.psychologytoday.com/blog/diverse-and-competitive/201503/are-millennials-more-likely-switch-jobs-and-employers
4. Glassdoor http://www.nasrecruitment.com/uploads/files/glassdoor-50-hr-and-recruiting-stats-2015-113.pdf

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

WhyShould Recruiters Care?

53% of hiring managers surveyed said they
have difficulty finding and retaining Millennials.(5)
Approximately one-third of companies lost 15%

or more of their Millennial employees in 2015. (6)

Does the Millennial Workforce Have Unique Skills?

Hiring and keeping Millennials is important; 68% of hiring managers say
Millennials have skills earlier generations lack. (8)

68%

of Hiring Managers
Say YES!

Millennials will leave if theyre

not satisfied. 43% of Millennials
were actively searching for a new
job in 2015.(7)

YES

Should the rise of a

Millennial workforce
affect how companies
approach recruitment?

Finding ways to better attract and retain Millennials is

crucial for organizational success.
5. 2015 Millennial Majority Workforce Study, http://www.elance-odesk.com/millennial-majority-workforce | 6. Millennial Branding https://www.tinypulse.com/ultimate-guide-recruiting-retaining-millennials
7. Aon Hewitt http://finance.yahoo.com/news/aon-hewitt-study-reveals-nearly-152300696.html | 8. 2015 Millennial Majority Workforce Study, http://www.elance-odesk.com/millennial-majority-workforce

Recruiters
2016 iCIMS, Inc. AllArights
reserved.

Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

How Can You

Attract More Millennials?

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

Forget the Stereotypes

What Millennials see as important to their careers might surprise you.

Stability

Financial Security

Collaboration

Eighty-eight percent of Millennials say

Millennials came up in a recession

Though Millennials are often labeled as

company stability is a top priority when

understandably, their financial

entitled or self-serving, 74 percent prefer

considering employers. This doesnt mean

well-being is paramount. It explains

to collaborate in small groups. (11)

they like corporate bureaucracy, but they

why 67% would be likely to leave

arent drawn exclusively to start ups, either.

their job for a similar job with a better

(9)

retirement package. (10)

These preferences can shape how you speak to Millennial

job seekers on your career portal and other recruitment
marketing channels.
9. Pinpoint Market Research, http://pinpointmarketresearchblog.com/2015/07/13/twenty-somethings-want-tangible-benefits-from-employers-not-a-fun-culture/ | 10. 15th Annual Retirement Survey by the Transamerica Center for Retirement Studies, http://windgatewealthmanagement.
com/millenials-the-diy-generations-take-on-401ks-how-do-you-compare/ | 11. Forbes, http://www.forbes.com/sites/danschawbel/2013/12/16/10-ways-millennials-are-creating-the-future-of-work/

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

Focus on What Really

Motivates Millennials
The three factors you should highlight to get a Millennial to accept a job are:

1.

Compensation
Package

2.

Professional
Development

3.

Opportunities for
Advancement

12. LinkedIn, https://business.linkedin.com/talent-solutions/blog/2015/05/what-you-need-to-know-to-successfully-recruit-millennails-infographic

13. LinkedIn, https://business.linkedin.com/talent-solutions/blog/2015/05/what-you-need-to-know-to-successfully-recruit-millennails-infographic

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

Use Social Media Strategically

Many Millennials want more than a
highlight reel of your last office party.
Instead, they want to know how to
land a job with your company.

Make social media a resource for

job postings, upcoming events,
and industry insight.

Millennials also care about a

companys values and its ability to
do good in the world more than any
other generation.

Attract more candidates by using

62%

of Millennials visit a companys social media sites

to acquire information about jobs.
-2015 Talent Trends Report

60%

of Millennials surveyed say they chose to join their current

social media to offer insight into

employer in part because of the organizations sense of purpose.

this aspect of your company.

-Deloitte Millennial Survey 2015

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

Offer the RightCandidate Experience

Seventy-eight percent of Millennials say the overall interview experience is very important
to their decision to accept a job offer. (13)

Personalized

Informative

Convenient

Millennials want to know theyre

Make information about company

Because Millennials are fast-paced

not just a number. Make your

culture, history, and mission easily

and more likely to apply from

recruitment efforts more

accessible on your career portal.

remote locations, video recruiting

individualized with personal email

During the interview process, allow

software gives Millennials the ability

communications, social media

Millennials to meet other employees.

to interview anywhere, without

interactions, and event invitations.

(14)

Millennials value transparency.

(15)

exhausting time or money.

13. LinkedIn, https://business.linkedin.com/talent-solutions/blog/2015/05/what-you-need-to-know-to-successfully-recruit-millennails-infographic | 14. Entrepreneur, http://www.entrepreneur.com/article/234891

15. LinkedIn, https://www.linkedin.com/pulse/your-candidate-experience-millennial-friendly-catherine-hess

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

How Can You

Keep Them Around?

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

10

Feedback & Growth =

Happy Millennials
Millennials take their careers seriously and value
honest, frequent feedback from managers.

80%

of Millennials
surveyed want
feedback in
real-time.(16)

Feedback nurtures
growth, which Millennials
also highly value.
60% of Millennials consider growth opportunities
to be the most attractive job perk.(17)

46% of Millennials left their last job due to lack of

career growth.(18)

Effective onboarding can be a launch pad for career success.

Create individualized new hire tasks and provide access to resources to ensure
new hires have a clear sense of how to excel in their position.
16. Elance-oDesk and Millennial Branding: https://www.elance-odesk.com/millennial-majority-workforce | 17. Glassdoor http://www.nasrecruitment.com/uploads/files/glassdoor-50-hr-and-recruiting-stats-2015-113.pdf
18. Glassdoor http://www.nasrecruitment.com/uploads/files/glassdoor-50-hr-and-recruiting-stats-2015-113.pdf

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

11

Offer Genuine Work-Life Balance

More Millennials are working as dual-income families, and theyre working more hours.
This makes achieving a work-life balance challenging.

38%

of U.S. Millennials say they would move

to another country with better parental
leave benefits.

57%

said they would leave a job that doesnt

provide the work-life balance they want.

(19)

(20)

1/3

say that managing their work, family, and

personal responsibilities has become more
difficult in the past five years. Forty-seven
percent are now working more hoursa higher
percentage than Gen Xers and Baby Boomers.(21)

19. EY Global Survey http://www.ey.com/US/en/About-us/Our-people-and-culture/EY-work-life-challenges-across-generations-global-study | 20. Pinpoint Market Research and Anderson Jones PR http://www.businessnewsdaily.com/8194-benefits-millennials-want.html
21. Ernst & Youngs Global Generation Research http://www.ey.com/US/en/About-us/Our-people-and-culture/EY-study-highlights-work-life-is-harder-worldwide#.VnG5dkorKUl

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

12

Empower Them
When
asked

72%

If you were able to

choose your manager,
which of the following
would be most
important to you?

The top
response of U.S.
Millennials was:

empowers
their
employees

of Millennials would like to be

their own boss.

(22)

But if they do have to work

for a boss, 79 percent would
want their boss to act as a
coach or mentor.(23)

Millennials want to empower others;

40% said it was their biggest motivator to become a leader.(24)
22. Harvard Business Review, https://hbr.org/2015/02/what-millennials-want-from-work-charted-across-the-world | 23. Intelligence Group Studies, http://www.forbes.com/sites/robasghar/2014/01/13/what-millennials-want-in-the-workplace-and-why-you-should-start-giving-it-to-them/
24. Mainstreet.com, https://www.mainstreet.com/article/millennials-want-to-be-the-boss/page/2

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

13

How iCIMS Can Help

iCIMS is a leading provider of innovative Software-as-a-Service (SaaS) talent acquisition solutions that help businesses
win the war for top talent. Scalable, easy to use, and backed by award-winning customer service, iCIMS enables
organizations to manage their entire talent acquisition lifecycle from building talent pools, to recruiting, to onboarding,
all within a single cloud-based platform that is connected to the largest partner ecosystem of HR technologies in the
industry. Supporting more than 3,200 contracted customers, iCIMS is one of the largest and fastest-growing talent
acquisition solution providers.

Connect with iCIMS on social media!

A Recruiters Guide to Attract & Retain Millennials

2016 iCIMS, Inc. All rights reserved.

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