Talent management and recruiting are at a turning point and there are 2015 recruiting trends that are changing the way things are done.
The Millennial generation is becoming the workforce of today as more and more are entering the workpalce. According to Pew Research, the Millennials will overtake Baby Boomers as the nation’s largest living generation so trends will change as they enter the real world. Here are a few key factors that are changing the way recruiting is done.
Self-Determination is key to success. Millennials are a different breed, they are independent and more entrepreneurial. In an recent Forbes article, they touched on the fact that Millennials are more interested in doing what they want to make themselves happy, than climbing the corporate ladder. Just 13% of participants of The PreparedU Project’s Report on Millennial Minds from Bentley University said they want to move up in their career while a whopping 67% want to focus on freelance opportunities or owning their own business. Fred Tuffile, director of Bentley’s Entrepreneurial Studies program, reviewed the results and said the Millennials are eager to make their own path as they don’t feel traditional approaches get the results they are looking for.
“Millennials see chaos, distrust of management, breaking of contracts and bad news associated with business,” he says. “They’ve watched their relatives get fired and their peers sit in cubicles and they think, ‘There has to be a better way’.”
Freelance hiring is ramping up as more people realize it’s considerably faster to hire a freelancer than to use traditional hiring methods. According to Elance-oDesk, it is about 14 times faster to hire a freelancer than traditional hiring techniques. Freelancers usually take about 3 days compared to an average of 43 days for traditional hiring. Hiring freelancers have become a new way to get work done quickly as it’s quicker to hire and get projects completed.
As job candidates shift into the entrepreneurial millennial mindset, companies will have to follow suit by creating new strategies to interest these job seekers and stay relevant to candidates. Companies will also have to be open minded when searching for candidates and include freelancers into the mix to get the best options for talent.