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Candidate-Driven Market

Today’s Candidate-Driven Market Isn’t Disappearing in 2020

Well, 2019 has gone away. And along with it, the decade. That was an interesting year in the staffing and recruiting space for hiring managers! And if you were a candidate seeking new opportunities, it was an exciting year filled with hope. Let’s look at what 2020 looks like and see how you can navigate today’s candidate-driven market.

It’s still a candidate-driven market 

2019 was an excellent year for candidates. The sea was your oyster as far as employment opportunities go. Candidates could look for a job at any time of the year and make a move. Employers were offering more competitive compensation packages, and there were more job openings than available workers to fill them. What a fantastic year, and I will leave you with a little hint – 2020 will be about the same. Woohoo! 

However, if you were a hiring manager, things weren’t quite as kind to you. Most were able to get jobs filled, but it took months to fill instead of weeks. Your employees were overworked and starting to feel the pressure. There was significant lack of candidates, and the ones that applied to the jobs were generally not the right fit for your team or demanding way too much money. 

Hiring managers were feeling this pain in almost every industry – especially in the banking space. Many financial institutions had great years, but many struggled to navigate this tight talent pool. If you were a bank that relied on SBA lending, many had a lackluster year. It didn’t help that the SBA division shut down for 35 days at the beginning of 2019. This affected the market as a whole, as small businesses have a significant impact on our country’s economy. 

However, if you were going after C&I business, it was a great year! Additionally, the mortgage business was hot this year, which is somewhat of a surprise as many analysts thought it would be a flat or slightly down year. 

2019 was a “rebuilding” year for many banks 

I work with many banks, and I always want to understand their plan of attack for the new year. Many took 2019 as a “rebuilding” year. They maximized where they could but tightened the belt where they had inefficiencies before. Many banks took the year to make adjustments that will be needed to succeed during a potential downturn or recession. 

2020 is looking fantastic! The market is expected to be tight, and thus, job seekers will prosper, and some hiring managers will continue to struggle to attract top talent. So, what can you do as a hiring manager to navigate this tight market? If you need talent this year, you are going to have to think outside the box. 

More candidates are partnering with recruiters 

Banking candidates want to partner with a recruiter more now than ever. They see the value in what we offer, as they know we can get them directly on the hiring manager’s desk. The ease and convenience of not having to stress over the back and forth of interviews, information gathering, or negotiating compensation and benefits. They also know that a trusted partner, like Johnson Search Group, will help them navigate the entire interviewing process. We prep every one of our candidates along the way. We never let anyone go into an interview without knowing what to expect. 

Banks must expand their hiring efforts to ensure their hiring is successful in 2020. And the easiest way to grow your pool of qualified candidates is by partnering with my team at Johnson Search Group. In today’s labor market, many candidates are passively looking for their next opportunity and like the idea of working with a “middle person” to buffer the hiring process. 

Partner with a great recruiting firm, like Johnson Search Group, and we will help you avoid the pitfalls of today’s candidate-driven market. We are working with dozens of candidates that are ready to make an impact on your institution in 2020. You are busy running divisions of banks; you don’t want to constantly be on the phone with candidates trying to get answers, schedule interviews, and scan hundreds of resumes. We make the hiring process smooth and seamless for you and your team. Let’s work together and start your hiring efforts off strong in 2020. 

2020 Banking Industry

Top 5 Jobs in the 2020 Banking Industry

As we make our way into the Fourth Quarter, many banking organizations are preparing for the new year. As you’ve probably heard, the market is hot. Throughout the year, the unemployment rate edged down to a 50-year low, with a record-breaking quit rate. As your institution prepares for next year, here are the top 5 most in-demand jobs we’re going to see in the 2020 banking industry.

Mortgage roles

With the rates declining and nearing all-time lows, the mortgage industry will continue to be hot. We just received a large number of mortgage support roles with multiple banks throughout the country. This is usually the slow time, and banks/mortgage shops are laying off or “restructuring” (aka letting people go). However, many are growing through this “slow” time. It helps that unemployment is at an all-time low. If you need these professionals for the short term (contract/temp) or perm, we can help you get them in place immediately.

Risk/Quant roles

Again, with the super M&A playground in the banking industry, banks are merging and growing, thus needing to add to the risk team. This includes Quants (Model Developers, Model Validators, etc.) to help calculate risk for the bank and how the bank will grow. Again, we partner with multiple banks that have recently gone through a merger and now are needing to add these people to their teams.

The other day, a bank we work with asked us to fill a Risk Manager role. My team and I were able to close that deal out in record time with a relocation for the candidate. These people are in high demand, and with the lack of available talent, banks are utilizing our expertise in finding talent. You need an expert, like Johnson Search Group, with all the connections in this industry to help you fill these roles in today’s tight market.

Audit/Accounting roles

These are always going to be a constant in the banking space. Accounting is so interchangeable in all industries; they can get great talent from anywhere. However, Audit is a little more challenging. Finding the talent that understands the Audit space and working with outsourced and insourced providers, as well as working within the business lines, is incredibly hard. Especially if you’re looking for talent that is going to stay with you for a few years of audits.

That is where a firm like ours comes into play. We recruit so heavily in this area that we have people on the bench that are ready to go on the contract or perm side. If you are sick and tired of spending hundreds of thousands of dollars on “Big 4” audit firms, it’s time to bring a pro onto your internal team.

User Experience roles

This comes in the form of both Marketing and IT as a whole. With the marketplace so competitive and every bank trying to be on the leading edge of what people/businesses want in their bank, these UX folks are going to be invaluable to the team. Many times, you can add contractors to your team to tackle a project or if you are doing a complete overhaul that will take years. We can help you find the perm talent that will be the difference makers and help keep your project on time and on budget. 

Commercial Lender roles

(Or really all lending roles.) Most banks are finding the commercial side to be most profitable, and they want to continue that growth. Again, this is one of the hardest areas to find top talent. We just moved a candidate that was with the same bank for over 25 years to a new bank. Every bank wants those candidates that have proven longevity. These are the type of producers we bring to the table.

We also recently placed another candidate that was with their former bank for 13 years. Our team helps them see why your organization will help get their career to the next level. We are truly subject matter experts when it comes to commercial lending. If you need talented lenders on your team, don’t wait to contact us!

Partner with a recruiting firm that knows your industry

At Johnson Search Group, we pride ourselves on knowing the ins and outs of the banking industry. Reach out to us today if you need a helping hand with your hiring process. We’ll help you get the talent you need to enter 2020 on a strong note.

How Fintech is Shaping the Banking Industry for the Future

How Fintech Is Shaping The Banking Industry For The Future

Innovation in the banking industry continues to be the key factor for financial institutions to survive in today’s digital era. According to recent statistics, 82% of financial organizations say they plan to partner with fintech companies within the next 3-5 years.

Here are just a few ways FinTech is shaping the Banking and Financial Services industry for the future:

Customer-Centricity

The shift to more customer-centric models can be directly attributed to the increase in demand from the younger generations. These consumers want to have quick, efficient transactions done at the palm of their hands. FinTech companies have embraced this. According to PWC, only 53% of people believe that banks and financial institutions are customer-centric, while 80% say that FinTech companies are customer-centric. A recent study shows that 71% of millennials would rather go to the dentist than hear what their bank has to say.

Need for Experts in Fintech Industry

I’ve recently had experience with a couple of Financial Institutions looking for candidates with FinTech industry backgrounds. They’re looking for these candidates to bring their ideas and experience to the bank/credit union scene. Because let’s be honest, not a lot of folks understand the FinTech industry if they’ve been in the banking world for a while. As a result, there has been a huge shift in the need for FinTech skills.

I have helped three different institutions this year alone with their recruiting strategies and large projects aimed towards FinTech developments.

A need to adapt to change, quickly and effectively:

Banks and Credit Unions have been slower to make the change to a more digital-centric model. There are a few reasons why this is the case. The silos within banks and credit unions make it difficult to pivot and adapt to changes in the market. Additionally, it’s challenging to make changes due to the legacy systems they’ve built up over the years. Introducing a new platform or changing systems causes a significant shift. These profound changes and products can directly affect the customers and members of the institution.

One of the financial institutions I helped with FinTech projects had a three-year timeline to switch over to their new FinTech platform. This required an immense amount of strategy planning, technology design, regulatory compliance checks, and other maintenance work for their IT teams. These timelines must be drastically reduced in order to keep up with the ever-changing world we’re in today.

If you’re looking for a FinTech professional to take your initiatives to the next level, let’s have a conversation!

Contract Workers

Why Contract Workers Are Appealing in Banking

Contract Workers

With the market as hot as it is, we need to talk about contractors. Most banks don’t think about using contractors for those urgent or critical roles. It is not at the forefront of the minds of hiring managers and HR professionals like it is in other industries, such as Healthcare. Hospitals and healthcare providers are continuously using contractors to fill their most critical positions. However, in this tight market, more and more banks are utilizing contract workers.

In fact, I placed two contract positions last week for two different banks. If you think banking institutions aren’t interested in contract workers, you are definitely mistaken. So, when can or should you use a contractor for a role?

Critical Job Vacancies

For any role that’s vacant and is vital to your organization. For example, the operations side of the bank is an area that makes perfect sense to utilize a contractor. A recent study claims that over one-third of workers are considering quitting their jobs to take advantage of today’s market and find a new job opportunity. So, hiring a contract worker is ideal when you lose that critical person on your team, and you need someone to fill in immediately. Plus, it will help ensure you don’t burn out your other staff that is going to have to fill in for them until you find the person to replace the loss.

My team and I can fill those contract roles incredibly fast. I just filled a Mortgage Closer/Funder role for a bank in less than 24 hours. They lost a critical member of their team and needed someone that could handle those closings within a day of starting. We were able to get this bank a great professional contractor to fill in until they can find the right person. And if the contractor continues to do a fantastic job, they may get converted into a permanent employee.

Leave of Absences or Vacation

Another great reason is for Leave of Absences (LOAs) or extended vacations. With the laws changing with LOAs to offer more freedom for new parents, banks are in a pinch as they let their employee take the time they need with their new child. Or when someone needs to take an extended vacation but has essential tasks that still need to be done while they are gone. This is a natural place for a contractor.

You may not be looking to replace all of what that person does daily, but the bulk of what they do. You need to prioritize what that person does, and which tasks/responsibilities are essential to the organization. After you determine that, your team now knows what to look for in a contractor.

To put this in perspective, one of my top clients called me last week needing a senior accountant. One of their accountants is going on an extended leave, and they need a contractor to fill their place temporarily. We discussed the most critical responsibilities they required the contractor to be able to handle. We received this job order on a Tuesday, and we had a great accounting contractor in the next afternoon. She covered the must-haves and had some additional skills that will help cover the role of the employee on leave.

Hiring for a project

A common need for a contract employee is for project work. We do a ton of this in many areas of banking, including IT, Risk/Quant, HR, and BSA/Compliance. Our team has placed many people in these areas. When your project needs a subject matter expert or a regulatory requirement change, this is where we can help you get contractors in place. You will save money on the contract, and you don’t have to figure out how to utilize that person after the project if you decide not to bring them on in a perm capacity.

Plus, we handle everything for you; they just show up, work on their assignment, and move on to the next project. Many of our clients see the value of contract workers and consistently utilize Johnson Search Group to fulfill their temporary hiring needs. In fact, we just filled a role for a massive technology conversion with one of our banking clients. The contractor we placed with them has helped multiple banks convert to this new technology and knew the hurdles, pain points, and shortcuts to help make their project go smoothly.

Work with us to find your next contractor

So, when your next perm employee quits without notice, think about calling us to fill the role on a contract/temporary basis. Or, if one of your employees goes on an LOA, think about utilizing a contractor to perform the critical aspects of their job. Johnson Search Group’s banking team can get the bulk of the workload off your other employees’ shoulders, so you don’t lose them too due to work overload. If your organization needs someone now, give us a call and let us help you find your next contractor.

SBA BDO, Banking, California

The Booming SBA BDO Market In California

SBA BDO, Banking, California

At Johnson Search Group, one of the areas we specialize in recruiting for is SBA Business Development Officers. As we talk with our clients and candidates, we understand the vital importance of small businesses within the California market. In 2015, California small businesses employed 7.0 million people or 48.8 percent of the private workforce. Since then, the labor market has only continued to grow!

Today, small businesses make up 99.8 percent of all companies in the state. And California’s GDP grew at a rate of 3.5 percent through the third quarter of 2018, outpacing the U.S. national growth rate of 3.4 percent. It’s no coincidence that San Jose, CA was named the 2nd top city for small businesses in 2019! While this growth is incredible for small business, it’s putting a strain on the SBA BDO talent market. And it’s causing fierce competition to hire qualified Business Development professionals. But what exactly is driving this growth?

Rapidly Advancing Technology

With the advancement of technology like virtual reality, artificial intelligence, and 3D printing, many small businesses are innovating how they work. Along with new technology comes lower barriers to entry. This makes it easier than ever for people to achieve their dream of starting a small business. High-tech companies make up nearly 12 percent of private-sector companies in San Jose, the highest concentration in the U.S., and almost three times higher than the national average. Just in the greater San Jose area, there are more than 6,600 technology-focused companies.

Diverse Workforce

In 2018, the top state for loan applications from women-owned businesses was California, with 13 percent. Nationwide, 1,821 new women-owned businesses were launched every day, with optimism the highest on record. Furthermore, women of color founded 64 percent of those businesses.

As of 2015, California boasted 1.6 million minority businesses. “California, Texas, New York, and Florida, the nation’s most populous states and home to nearly half of all minority residents, had the largest number of minority-owned businesses.”

Competition For Talent

While the entire U.S. is in a candidate-driven market right now, the competition is even more fierce in California. In a labor market this competitive, it requires more time and effort to fill critical positions with qualified talent. “Some entrepreneurs view the competitive labor market as an opportunity to improve their internal processes and position themselves advantageously for the future.” And while small businesses are forced to compete with large public companies, partnering with a recruiter can make a world of difference.

The recruiters at Johnson Search Group understand the markets you work in every day. In the SBA BDO space, we sympathize with your efforts to find great Business Development Officers. However, we also go a step further to immerse ourselves in the clients we partner with. So as your team hustles to keep up with the growing demand, we’ll be by your side providing the qualified talent you need to continue driving business.

banking industry trends

Mid-Year Banking Industry Overview

banking industry trends

Here at Johnson Search Group, we have a team of recruiters that specialize solely in banking and finance. They have hundreds of conversations with industry professionals every day, and through their recruiting efforts, they get a great pulse on the market and hiring trends. We sat down with Tracy Isakson, our Banking Division Manager, to gain some insight into the inner workings of the banking and finance industries, here’s what he had to say:

What were the main areas of growth in the banking industry throughout the 1st half of 2019?

This has been an interesting year so far. Right out of the gates, we saw a huge hiccup with the government shutdown, which affected the SBA & Mortgage divisions.

2018 was a stellar year for SBA growth, however, it slowed significantly as the year went on. That stunted growth was then compounded with the government shutdown and the banks and lenders not being able to close on those deals. As a result, the amount of money in the economy slowed significantly, immediately affecting the hiring trends in SBA. Most organizations are not going to be able to recover completely from that during this calendar year.

As organizations are trying to handle current business development production, hiring on the sales/BDO side have slowed. So, in the SBA and mortgage space, teams are focusing their recruiting efforts on operations and support roles in the second half of the year.

On the other hand, we are seeing strong growth in the conventional Commercial Lending space again after a bit of a slowdown in 2018. Banks are looking for strong tenured RMs to bring books and produce right away. And in order to secure these top producers, they are willing to pay top dollar.

How do you foresee recruiting efforts going for the 2nd half of 2019 in the banking industry?

By all indications, we are going to continue to move RMs to new banks. Both in the C&I and CRE space in commercial lending. Additionally, I’ve noticed more core banking operations roles coming onboard this year. IT, Risk, Compliance & Accounting are seeing growth as well.

M&A activity in the banking space is shaping up to be as busy as ever for the remainder of 2019. There are a number of banks in the market poising themselves to purchase or sell. It is pretty fun to watch banks taking advantage of this market. From four projected rate hikes to now holding, the FED has changed their tune and as a result of inflation concerns, a rate cut is likely forthcoming later this year. Banking professionals are doing everything they possibly can to capitalize on that. Utilizing M&A activity, growth in real estate lending, and the cash savings, they are preparing for a strong finish to the year.

Why should banks use your recruiting firm?

Throughout the Johnson Search Group recruiting team, we have experts that specialize in working with banks and some that partner solely with Credit Unions. We know who our target clients are, and we focus our efforts on our strengths throughout the banking and finance industries.

We work primarily with banks and credit unions that are under $40B in assets. The only exception to that is in the Risk/Quant space. We successfully partner with a few banks that are larger in size to recruit these specialized roles.

In the end, we are passionate about what we do, and we will go out of our way to help you fill the urgent needs on your team! If you are in need of some talent, reach out to my team and let’s work together to navigate this tight market.

contract staffing

Contract Staffing: The Key Hiring Strategy Your Bank Is Missing Out On

contract staffing

The current hiring market for the banking industry is extremely competitive. One of the best ways to get a leg up on your competition? Incorporate contract staffing into your hiring strategy! There are many benefits to hiring contractors, for both you and contractors. Moreover, contract staffing can be utilized in almost every department of your organization. Having partnered with several top credit unions and banks in the Pacific Northwest, I can attest that the need for contract staffing will only continue to drastically increase.

Contract staffing is everywhere

According to the American Staffing Association, America’s staffing agencies and companies employ 17 million contractors each year. Additionally, one-third of those contract employees end up receiving a permanent job offer from the company they are on assignment with.

Almost half of employers utilize contract staffing for IT positions

The need for contract staffing in financial services and banking covers a range of positions; from administrative duties to the mortgage department and even one of my specialties, IT. For example, according to Interactive Business Systems, 48% of companies have used a staffing agency for IT-related job functions. The era of digital banking is here and the need for talent in those areas is increasing.

According to Ernst & Young, “A recent study found that 62% of senior leaders in the banking industry believe that the digital talent gap, or the disparity between the supply of qualified people with digital expertise and the demand for those candidates, has been widening in recent years. As the needs of banks change, they will sharpen their focus on recruiting people with specific technology expertise.” In other words, there is a talent gap in the banking industry for exceptional IT professionals.

Mortgage loan professionals are great for contract staffing

My clients find that their need to hire support staff increases as the number of mortgage loan applications fluctuates throughout the year. Typically, I recruit very heavily for banks and credit unions at the beginning of the year to beef up their mortgage support teams. These contracts range anywhere from 6 months to one year. Thus, these assignments are just long enough to get them through their busy season. Fortunately, I have a large network of mortgage talent that I’ve built up over the years. This allows me to service the same clients year-over-year in accordance with their busy seasons.

Whether it’s a short-term contract or a long-term project you’re looking to hire for, I am happy to help! I understand the need for top-talent and the shortage of qualified candidates on the market today. Let me help you source contractors that are not only qualified but also excited about contract assignments!

Banking Trends

Banking Trends to Watch in 2019

Banking Trends

The Banking industry is transforming quickly to accommodate the needs and wants of consumers. Consumers are driving the market by changing how they interact with banking organizations. Users, especially Millennials and their younger Generation Z counterparts, want quick and easy access to banking services. And this revolution isn’t expected to slow down anytime soon. As we near the mid-way point of 2019, here are a few banking trends to watch out for.

Privacy is becoming a priority

Security and privacy are a BIG concern with customers. In just the first quarter of 2018, nearly 1.5 billion records were compromised. As banking organizations continue to digitalize their products and services, it’s becoming extremely important for them to be transparent and honest with how they use consumer data. Banks will have no choice but to invest in their security tools and grow their IT teams to better protect their customers’ data from cyber attacks and leaks.

A shift in culture

By 2022, the primary channel to access banking services will be mobile devices, with 90 percent of consumers using their phones or tablets to access their bank accounts. In other words, traditional banking models are becoming increasingly irrelevant. In fact, only 49 percent of millennials prefer to bank with access to branches. Thus, banks must change how they engage with consumers because less and less of them are physically walking into branches to access banking services.

Brand loyalty is diminishing

Brand loyalty is also becoming less important for consumers. Gone are the days of sticking with the “family bank” and using them for all of your banking needs. Rather, the younger generations are more concerned with costs and ease of use. 28 percent of Millennials prefer to bank online for better rates as opposed to just 11 percent of Boomers. Customers want the best rates and lowest fees they can find. As a result, they are shopping online instead of walking into the neighborhood branch when it comes to securing a loan or opening up a new line of credit.

Get the talent you need to meet these changes

The Banking industry is ever-changing. It’s constantly implementing new strategies and services as demands from consumers develop. If your team needs help finding the right talent to help accommodate these banking trends, let’s work together. Our team at Johnson Search Group can help you find the candidates you need to adjust to the growing demands from your customers.

job market

How Good is Today’s Job Market?

job market

You’ve read the news and seen the reports. The labor market is competitive. But is today’s job market really as strong as people think it is? The short answer is yes! Here’s a brief overview of today’s job market and how to navigate it if you’re an employer.

According to LinkedIn’s May Workforce Report, gross hiring in the United States was 7.4 percent higher in April 2019 than in the year prior. And we are also experiencing an unemployment rate of 3.6 percent, which is a near 50-year low.

The labor market is really strong, and some industries are more competitive than others. To put this in perspective, the three industries Johnson Search Group specializes in (Mining & Heavy Industrial, Banking, and Healthcare) have all seen tremendous growth over the last 12 months.

Mining

The Mining & Energy industry has come back to life in recent years. Over the last year alone, the number of unemployed mining professionals has been cut in half from 39,000 to roughly 17,000 people. Moreover, year-over-year growth in the Mining & Energy industry is 4.9 percent. And over the last two months, the growth has been 2.2 percent, from April to May. In April 2019, the unemployment rate in Mining was just 2.4 percent, well below the nation’s average.

Banking & Finance

In April 2019, there were 12,000 Banking & Finance jobs created. And over the last 12 months, 110,000 jobs were generated in the industry. Average hourly earnings in the industry have also risen over the past year from $34.46 an hour to $35.53. The unemployment rate in this sector is well below the national average at 2.1 percent. The Banking & Finance industry has a 7.7 percent growth year-over-year.

Healthcare

263,000 Healthcare jobs were added in April 2019, overshadowing the average monthly gains of 213,000 for the last 12 months. Not surprisingly, the Healthcare industry has continued to grow rapidly over the year. The industry experienced year-over-year growth of 7.5 percent over the last 12 months. And this growth will keep climbing. Healthcare became the largest U.S. employer in 2018, and by 2026, the industry will add nearly 4.0 million jobs.

How to navigate this market

With how competitive the market is, it can be difficult to find the talent your team needs. It’s a candidate’s market and employers cannot afford to drag their feet when making hiring decisions. You must move quickly to ensure you secure top talent.

Have you ever thought of the costs incurred from a vacancy on your team? There are several hidden costs associated with unfilled positions at your organization. According to SHRM, the average open position takes 42 days to fill at a cost of $4,129. The cost of vacancies can certainly add up as good employees take advantage of this hot job market and move onto other opportunities. Many of our clients are incurring these indirect costs and don’t even realize the financial impact of unfilled positions.

If you find yourself in this same boat, have you thought of partnering with a recruiter? A recruiting company, like Johnson Search Group, will help you find the qualified talent your team needs quickly and help you mitigate these costs. We have a huge network of great candidates ready to make a move and make an immediate impact on your organization. Let’s have a conversation and help you fill some of those vacant positions.

Millennials

Financial Institutions Must Change to Attract Millennials

Millennials

Millennials make up the largest portion of the workforce today. Banks and credit unions must change the way they attract and retain talent, especially when it comes to Millennials. Many Baby Boomers are reaching the retirement age. In fact, 10,000 Baby Boomers are retiring per day. Millennials are stepping in to fill that void. By 2025, it’s expected that Millennials will make up 75 percent of the workforce. With Millennials responsible for such a large percentage of the workforce, banks and credit unions must change to accommodate them.

The 2018 Bank Director Compensation Survey shows that about 83 percent of banks have changed their approach to attracting and retaining young talent. Those who haven’t adapted to the change have attributed this to one single issue: Millennials consider the culture of financial institutions to be too traditional.

Ask your Millennial employees for input

Millennials are looking for employers who share the same social values as they do. In other words, they are looking for companies that add value to society and positively impact the lives of others. The best way to understand how to transform a company culture to be more “meaningful” is to ask your Millennial employees for their thoughts and ideas.

What better way to understand what appeals to Millennials than asking them directly? The younger generation loves to be involved in the decision-making process in their workplaces. They keep a pulse on social activities, charitable causes, and events that will help their local communities prosper.

How to reach this generation

It’s no secret: most Millennials can be found at any point of the day with some sort of digital device within arm’s length. Social media has changed the way financial institutions market to consumers as well as the way they operate. In order to be competitive in the marketplace, being up-to-date with technology and digital resources are going to be a huge factor in attracting and retaining Millennials.

The Millennial stereotypes

Over the last decade, you’ve heard the negative stereotypes of Millennials. For example, they’re lazy, disloyal, entitled, and expect a trophy for everything they do. However, instead of having a negative perception, think of how their mindset can change the way you do business and the opportunity to adapt to this ever-changing digital age. Look at them as collaborative employees, eager to learn new skills; they’re typically extremely adaptable to change and open to new ideas. These are qualities that most Millennials possess in today’s workforce.

This change is inevitable

If companies can change their mindset about the younger generation and showcase a culture that adds value to society, they’re on the right track to attract the younger generation. And like it or not, Millennials are the dominant member of America’s workforce. So, if your organization can make the changes to attract this generation, you’ll be ahead of the competition!