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Recruitment Efforts: How to Mantain Top Talent Within an Organization

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According to a 2011 study conducted by the Conference Board, CEO’s are having a difficult time in finding and securing top talent, despite the fact of a 30% unemployment rate of Millennials during the time of the study (Kuhl, 2014). How can there be a lack of top talent with so many high educated Millennials roaming around just waiting for an opportunity to put their education and skills to use? This is an obvious question that needs a direct answer. There is undoubtedly a disconnection between efforts of searching for top talent by employers and the amount of Millennials as future talent for organizations (Kuhl, 2014). Why is there a failure to match up the two pieces of the puzzle? There is a dire need to replace Baby boomers as they are retiring at alarming rates, resulting in a lack of employees to fulfill work requirements. Organizations and their leaders have no choice but to hire Millennials to fill in the voids created by this retirement boom. So, why are Millennials so highly unemployed and underemployed in today’s work environment? The hiring of Millennials is the answer to retaining the knowledge and legacy of the company and the key to future innovations (Kuhl, 2014). There is an imminent disconnection between employers and Millennials that needs to be put together.
A plethora of research and available literature describe Millennials as self-centered, immature, lazy, narcissistic, and needy individuals. These opinionated adjectives are affecting how older generations view and envision Millennials workers in a negative way. As employers the first thing that should be addressed in the disconnection is to throw out the notion and stereotypes that this generation of Millennials are slackers and desire instant gratificat...

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...tor which results in high turnover rates. Millennials know what they want and will migrate to achieve that desire. This is perceived by employers as a lack of loyalty. However the reality is that the work environment is changing and employers must adapt and change in order to stay competitive. On average it costs an organization $15,000 to $25,000 to replace a lost Millennial employee (Hershatter & Epstein, 2010). With figures so high for each replacement employers cannot afford for this to continue.
If an employer and its leaders dismiss what Millennials want and need to be successful in the workplace now and in the future it will cost them greatly with high turnover rates. Employers must take the time to invest in Millennials as well as debunk all of the myths and stereotypes plaguing their perceptions of Millennials resulting in a disconnection between the two.