In 1994 these events occurred:

  • "Forrest Gump" won the Oscar for Best Picture.
  • "Seinfeld" was the most popular TV show.
  • Lisa Loeb’s “Stay” and All-4-One’s “I Swear” topped thecharts.
  • Most of the students graduating college this May were born (andI was 11 years old).

Graduation season is in full swing. When it comes to employeerecruitment, research suggests that this latest generation to enterthe workforce is one unlike any other.

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Millennials are the fastest-growingdemographic in the workforce today, and will comprise 75%of the global workforce by 2025. If attracting top graduates fromthe Class of 2016 is a priority for you as you fill your talentpipeline, now is the time to ensure your credit union is able touncover what’s important to them and that it has processes,policies and benefits packages in place that are inalignment with their unique goals and values.

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Here are a few statistics you probably didn’t know about thisnew class of graduates that we all should consider as we hire andbegin working with the newest group of employees to join ourorganizations.

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class of 20161. This is the most diversegeneration to enter the workforce.

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According to Pew Research, 44% of millennials are part of adiverse community or ethnic group. That percentage is expected tocontinue to rise, as immigrants coming to the U.S. aredisproportionately in their younger working years. In fact, themajority of new immigrant workers are between the ages of 20 and35.

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Takeaway: Creating an inclusive culture that addressesthe needs and values of employees of different religious andcultural backgrounds has never been more important.

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class of 20162. This group of employees ismore entrepreneurial than any other.

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The newest group to enter the workforce is shaking up the wayour nation works.

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Since the Industrial Age, each generation has entered theworkforce with somewhat similar expectations: You study something.You get a job (usually in a place of work, like an office), and youstay there for a long time.

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Did you know that 79% of millennials would considerquitting their regular job and working for themselves? Fifty-twopercent believe corporate loyalty is outdated and most (58%) expectto stay in their current job for fewer than three years.

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Takeaway: Competition is fierce. Offering greatbenefits that address employees’ needs is one way you can ensuregreat candidates join your credit union over others andstay.

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class of 20163. An infrastructure thatembraces new methods of communications is reallyimportant.

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Chances are the soon-to-be graduate your team is meeting atcollege recruitment fairs hasn’t listened to a voicemail inweeks and doesn’t have a landline.

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This generation is no longer plugged into the traditionalmethods of communication most offices still rely on, but moreplugged in than ever to social media, text messages and their cellphones. According to a recent Gallup study, mostmillennials check their cell phones at least hourly, and manyreport that they check it “every few minutes” and “a few times anhour.” I know I’m guilty!

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Takeaway: The Class of 2016 will expect to be able touse the latest tech tools at work. Failure to embrace changewill likely result in retention issues for organizations thatare slow to evolve.

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This is the most connected group of people to ever enter theworkforce. Ensuring your credit union is positioned well to fosteran agile, collaborative culture is key.

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class of 20164. The Class of 2016 wants tomake a difference, both at your credit union and in theworld.

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If you read a lot about millennials you’ve probably heard all ofthe same stereotypes I have (full disclosure: I am a millennial andI run a millennial-focused company). You may have heard thatmillennials are entitled, or perhaps narcissistic.

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Let’s take the first one. Some see millennials as entitledentry-level workers who expect to get promoted quickly by playingfoosball at work.

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The truth is that the newest group of employees to enter youroffice will expect to work hard. Most already sleep with theirphones next to their pillows and won’t mind working late,especially on something that will have a big impact on yourcompany. In fact, 72% consider having “a job where I can makean impact” to be very important or essential to their happiness intheir career.

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At the same time, 78% say that a company’s Corporate SocialResponsibility program affects their decision to join a company,and 64% use social media to address or engage with companies aroundsocial and environmental issues.

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Most are optimistic and fully believe they can make adifference in their community and change the world. While changingthe world may take some time to truly accomplish, empowering yourmillennial employees to do so will empower your organization forthe future.

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In fact, one could make the case that no other generation hasbeen as optimistic about their ability to have an impact, both inthe workplace and in the world.

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Your credit union’s newest rising stars are ready for theworkforce. The question is: Do you have the right policies andpractices in place to ensure you are ready for them?

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