Multiple news reports have come out recently talking about “Millennials on the Move.” It seems this generation is growing to be one of the most traveled ages yet to come. That’s more than a fun fact, though; that’s something that contract workers can use to their advantage.
Why are Millenials Moving?
In 2017, 25-34 year-olds, who lived in their current home for less than two years, was up to 45.3%. In 1960, that number was far less at 33.8%. In many cases, these moves are taking place within the same metro area; however, an increasing number of young adults are moving to other metro areas as well.
It’s thought that most millenials are moving closer to work as they become more settled in their job. As their family grows and changes, moves take place to get into better and better housing for their situation. However, that’s not the only reason they move.
Lower Home Buying, Family Creation, and Job Stability
Since this generation is also getting married and buying a home later, they are often for more untethered compared to past generations. This shifting demographic has lead millennials to be more comfortable with moving for better job opportunities or lower cost of living.
Add all of those things together, and you get the last reason this generation moves more than other generations in the past. They move jobs far more often than previous generations. Their career changes could be for better pay, better location, or just a better work environment. The one confirmed fact is that they stay in one job for less time on average than young adults from years past.
How Can Contract Workers Capitalize on These Facts?
First, understand the demographics. Millennials are looking for a meaningful impact in each job they take. Job perks are not as important as knowing they are making a difference and being treated well.
With this in mind, contract work could be a better solution for some millennials. Since many already like irregularity and new challenges, they should be able to embrace contract work as long as the right pitch is given. Their propensity to move to new places also provides a starting point if you can’t find the right person in the city that you are in.
Finally, contract staffing and recruiting firms will have a constant source of talent to pull from and move around as needed. Since millennials have a higher rate of college graduation and often come with years of internships and work experience, they make for excellent placements in entry and middle-level positions that other generations might not fit into. Specifically the millenial population dominates the tech industry, which has fully embraced contract work. According to this report by Dice, “490,000 of the 1,483,000 developers in this country [USA] are Millennials”, which represents a great opportunity for contract staffing and recruiting firms.
The Details:
Contract staffers should look to millennials for their future staffing needs for multiple reasons. Millennials are more willing to move home locations, use this to your advantage when you need someone in a city where there aren’t any suitable candidates. Additionally, young adults love change; however, they need meaningful work and a fair work-life balance. Balance can mean time off for other things, or simply benefits so they can still support themselves. Benefits like health, vision, dental and 401K are still important to this group and are offered by FoxHire. Make sure that you can give them both, and they’ll enjoy working on a contract basis.
