Last night I was fortunate enough to attend a Flux Trends presentation, by Dion Chang, at the I-Store headquarters in Sandton.  The presentation was started off with a startling statement by Dion, "the millennial will change jobs 29 times in his/her career, working out to a new job every 18 months."

The presentation provided valuable insights for companies who are either dealing with the different mindsets their young employees have or are bracing themselves for the next generation workforce.

In both cases there is a growing disconnect between the value systems and career aspirations of the baby-boomer generation (who fill most of the top management positions) and the millennial generation (otherwise known as Generation Y, those born between 1980 and 2000). Not only are the millennials the workforce of the future, and therefore need careful consideration, they also require a very different approach in terms of recruitment and management.

The millennial mindset is not as optimistic as previous generations. They face unprecedented uncertainty regarding their futures and the world they live in. Unlike their parents, they have experienced divorce firsthand, witnessed the devastation of HIV Aids, seen economical plight wipe out their pensions and have inherited a damaged environment.

Baby-boomer parents have mollycoddled their children. They are spoilt and pandered to, aptly dubbed trophy kids. Being raised in an environment of pamper and care has led them to expect similar treatment in the working world. However, they are left unsettled as they as don't experience this when entering the job market.

Understanding their world-view is critical for businesses in order to skillfully adapt their companies to this new work force. One thing is certain, the anomaly that are the millennials, have many insecurities that most companies are unaware of. Latest research confirms this with the following key insights:

➡51% of millennials do not expect to receive job offers upon graduation
➡16% of millennials will further their education after high school
➡57% of millennials will move back home after graduation (known as the boomerang effect)
➡56% of millennials are willing to relocate for a job (be that nationally or internationally)
➡34% of millennials are concerned that off-shore talent will affect their job prospects
➡74% of millennials think relevant work experience is the most important factor in getting a job

Gone are the days of limited vocations to choose from and the obligation to remain loyal to a company until retirement. Millennials choose lifestyles and careers based on a new set of criteria. They opt for jobs that offer flexitime and come with perks that combine work and play. Some have even gone so far as to choose careers based on what their favourite TV series portrays. Many change career paths several times and hop between companies. This has resulted in a dip in solid career paths. It is no wonder that current employment templates clash with millennial aspirations.

South Africa is faced with a phenomena that many developing countries and emerging economies are faced with, that is, youth bulges. Approximately 65.8% of South Africa's population is between the ages of 15 and 29. A youth bulge of this proportion is an sobering fact. Employers need to have a strong grasp of the youth's mindsets and the right skills in order to mentor the millennials into management positions and leadership roles that will ensure the longevity of the workforce and economy. Currently, Generation X, is rapidly becoming superannuated.

The presentation investigated companies around the world that have moved with the times and, therefore, reaped the rewards. These companies have taken the risk of employing millennials and have adopted creative methodologies in order to position themselves for future success.

Due to the overwhelming positive response of this presentation, Flux Trends will be running a repeat session of So, you wanna hire a millennial? This trend presentation is a must not only for employers but parents and those in marketing. It provides fascinating insights into the often misunderstood millennial mindset. You'll be armed with tools to narrow the generation gap, recruit and keep the right talent and how to create a more efficient and productive work environment.

Visit the Flux website