A seismic demographic shift will take place in 2016 as Millennials, also known as Gen Y’ers, have now surpassed Boomers and Gen X’ers as the largest share of the workforce.
This will have tremendous positive implications in the ability of corporations to recruit talented supply chain and logistics professionals wherever the position may be located whether in the U.S. or overseas.
Millennials will be 19 to 36 years old in 2016. Those who pursued a degree and career in supply chain management, transportation and trade compliance understand there will be multiple moves throughout their career. They are receptive to relocation for good opportunities. Millennials embrace a move as an adventure and are certainly not permanently stuck in their new roles or locations as they are so mobile. Typically, they “went away” to college; many out-of-state and lucky ones spent a semester or two of study abroad.
Smart companies have locked on to this trend and are offering attractive relocation packages to court this talented segment.
Additionally, evolving U.S. trade policies, trade agreements and the recent Trans-Pacific Partnership agreement are all part of their business landscape. Millennials have grown up in a post-September 11 world and accept and understand the need for regulatory trade parameters that keep our country and interests safe.
The resurgence of the stock market has allowed Boomers to retire … freeing up management and executive opportunities for the upstart Millennials who have been mentored, trained and educated by the Boomers and Gen X'ers.
The average raise in base pay offered to an employee is expected to be 3.0 percent in 2015. This increase is negligible. Millennials and Gen X’ers simply don’t see their standard of living improve quickly enough when they can change companies and may be offered a 20 percent bump in base salary. 2016 will be a perfect storm of opportunity.
Bill Conroy, Executive Director, Tyler Search