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The tables have turned! Organisations must now convince employees to choose them. Recent research reveals the average lifecycle of a job is now between 12 months to 3 years, and with talent being much more accessible for your competition, employees have increased bargaining power as the job market has become increasingly more competitive.
In the hybrid work environment that we now find ourselves in soft skills have become more important than ever. A recent survey conducted by recruitment specialist Drake International found that organisations that have been working remotely now consider communication (84.5%), work ethic (47.6%), followed by adaptability (38.8%) to be the most critical to productivity.
There are almost seventeen million millennials (Generation Y) in the UK. They will shortly become the largest demographic group in the country according to Statista, a European statistics portal. And this year, (2020), millennials (1981-1996) are forecast to make up 35 per cent of the global workforce. With these statistics, hiring managers and companies must sit up and take notice.
We’ve all heard the negative stereotypes about Millennials – they are lazy and don’t want to work hard, just to name two. With this cohort of the population making up nearly 50% of the workforce in 2020, it is more important than ever to debunk these stereotypes, and ensure that companies are effectively attracting, and retaining this talent pool to build a sustainable business for the future.