Executive Summary: The Millennial Generation

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Executive Summary Today, the millennial generation is surpassing the Baby Boomers and becoming the most prominent generation in America. “The demographic shift is undeniably producing extensive implications regarding social, economic and cultural factors globally. Essentially, the labor market is vastly confronting with the massive influx of digitally perceptive, determined and social job seekers.” (Taylor & Scott, 2010) With such a significant demographic transition, recruiters are going to reexamine their hiring strategies and implement stringent measures to respond to this ever-changing employment tide. Statistics indicate that in the next ten years, approximately 75 percent of the workforce will include the millennial generation. Therefore, …show more content…
For instance, technology has greatly changed the means of communication; education and occupation have also changed. These changes and others have created a lot of assumption about how this generation will continue shaping the economy. It has also become difficult to determine whether some of these changes are sequential or permanent. First, the millennial generation is technologically linked, self-motivated and energetic. Their priority of creativity and inventiveness indicates well with improving the future economic growth. Furthermore, their exceptional interest in technology has transformed the traditional economic societies and the labor market. For instance, Agrawal Et al. (2013) argued that the introduction of "crowdfunding" has assisted the entrepreneurs to sources capital over the internet rather than depending on the traditional sources such as banks. Another change is the effort made by the millennial generation, especially the parents is by making significant investments in their human assets. For instance, increasing the college admission is a sensible response that is likely to pay off in the economy, i.e. a labor market is likely to offer large compensation to an educated workforce. “Therefore, as the economy improves, employment opportunities keep on rising, although not as earlier. The Millennial generation is likely to pursue new career paths that correspond to

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