Aging Up not Out
Colorado companies that are looking to hire and keep talented staff, millennials could be the answer. The best part is this next generation of workers will cost less than you would think.
We hear again and again that one major advantage work in Colorado offers the new generation of workers is work-life balance, and the active lifestyle of the Front Range, but those may not be the most important decision factors (Read more).
Colorado’s young workforce is expanding at an unprecedented rate. Millennials are moving to our state in record numbers every-year, and while they may not have the experience, they are willing to learn and stay here. In the next decade Millennials will comprise more than 44% of Colorado’s workforce (Read more). While we’re excited to see so many talented young adults entering the workforce, it is important to note that millennials who want to live and work in the Denver metro may be facing other challenges (Read more). "If there was one single impediment to growth here, it's the price of single-family homes and apartments," said Tom Clark, CEO of Metro Denver Economic Development Corp. earlier this year. So, while millennials are moving here in droves, they're going to need good-paying, stable jobs if we're going to keep them, particularly as real estate prices soar. Those jobs are more likely to come from scale-ups than from start-ups, but, millennials need to be wooed and managed in a different way than their predecessors (Read more)
In fact, research shows that the millennial generation values skill development, training, and a clear career path, more than any other factor. That includes their starting salary. In the face of the 2008 recession and the higher cost education and living, it is encouraging to hear that this generation is willing to make an investment in their futures.
One in five millennials is interested in working for or owning a start-up. With over ¾ of VC backed companies never providing a return on investment, these young workers represent an opportunity for existing companies to attract and retain innovative and driven young employees who will, with the right coaching and development stay for the long haul.
We know they want to live here, we know they are willing to learn the skills employers want, and they are willing to take chances on new and exciting opportunities. The take-away; this work-hard, play-hard generation is worth the investment of time and resources. Getting and keeping them early will pay off big for the future of Colorado.
Blackstone Entrepreneurs Network is fortunate to have an outstanding team of fellows and interns that work to make our program function every day. Please read more about them here. They welcome the chance to learn from our members at any opportunity!