Staffing Industry: Millennials Entering Workforce Later

Staffing Industry: Millennials Entering Workforce Later

Staffing Industry: Millennials Entering Workforce Later

According to a new report from the Georgetown University Center on Education and the Workforce, the combination of the recession with more demanding jobs has postponed many young Americans’ entry into the workforce. This presents an opportunity in the staffing industry to reach out to these millennials and help them get valuable work experience.

Today’s millennials have earned the title of “the new lost generation”. Students are entering their first full-time jobs at a later age, while in the meantime struggling to pay off student loans. For example, 26 year-old James Roy has spent the past six years paying off $14,000 in student loans for two years of college by skating from job to job. He now works as a coffee shop supervisor.

Roy calls this situation a “rough deal”, stating that to him it seems like if you went to college and took on student debt, there would be a greater assurance that you could pay it off with a good job.  While most economists agree with this sentiment, and believe that more education is a positive factor for job seekers, rising college costs are prompting young people to take a hard look at where to go and what to study.

In addition to education, many employers value hands-on training and experience, which can present a challenge to entry-level college graduates. Executive Director of the Economic Opportunities Program at the Aspen Institute Maureen Conway says that to rectify this situation, there needs to be an economical change. “I believe that education and training is necessary but not sufficient. We need to start looking more broadly at the economic system,” she says.

In the meantime, these challenges give your staffing agency employees the chance to generate candidate leads and truly help the millennials that are currently graduating college and may not have a clear goal in mind.

World Wide Specialty Programs has always had a singular purpose – to design, develop and provide staffing insurance programs for the staffing industry. Working with over 2,000 insurance brokers nationwide, we know the staffing industry better than anyone, and can provide great options for your staffing industry insurance needs. Contact us today for more information about our staffing agency insurance solutions(877) 256-0468.

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