In today's workforce, employers are becoming increasingly concerned about finding new talent to replace the Baby Boomers as their generation begins to step down from upper management and decision making positions to retire. These executives in particular will not be easy to find replacements for, and a recent study by the MRINetwork reveals that more than 70% of recruiters believe they are not prepared for the shift that is soon to take place as Baby Boomers step down and their successors from younger generations take over. While many organizations are attempting to implement programs that will retain this particular group of employees, their efforts can only delay an inevitable change that enterprises everywhere will have no choice but to accept. With the need to fill these stakeholder's places, are Millennial and Generation X and Y professionals getting the upper hand?
Recruiters seem to think so, as 90% of those surveyed said they believe today's job market is driven by the candidates. But the more than half of the candidates in the survey disagreed, and a similar amount of employees agreed with these candidates as they consider the market to be driven by employers. The recruiters who were surveyed explained that younger generations prioritized a work-life balance, and require their Human Resources and management teams to meet these demands that stray from previous generations habits that included significantly longer work weeks that surpassed the average 40 hours. Candidates are also demanding advancement opportunities and generous compensation packages before committing to new employers, as these two priorities can be the deciding factors when making major career changes.
Check out the complete results of MRINetwork's Recruiter Sentiment Study.