Millennials are slowly taking over the workforce as baby boomers are exiting. By 2024, it is projected that three in four U.S. workers will be millennials. This is particularly impacting the construction industry, with more than 40% of the current construction workforce likely to be retired by 2031. This change is creating a labor gap that must be filled, but the problem is attracting millennial workers to the industry.
The rising workforce is quite different in comparison to its predecessor. The priorities have shifted. Millennials are after benefits and perks rather than pay, so much so that more than 80% of millennials would change jobs to obtain better benefits, and nearly 90% would pass up a pay raise in favor of benefits and perks.
Millennials will require a different approach to recruit, but it isn’t impossible. Below are a few steps contractors can take to attract them to their teams.
Reprinted courtesy of Darren Bounds, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.