The Millennial generation has been moving to Denver in droves. Between 2010 and 2014, the Denver metro area had one of the largest influxes of domestic migrants in the U.S. Many of these migrants were Millennials, who make up more than 20% of the city’s population. This influx is present in more than just the city’s general demographics: Millennials are also on the rise in the Denver tech market. For any Denver organization that is thinking about the future, it’s time to develop a hiring strategy that embraces Millennials and works to recruit and retain this generation of up-and-coming tech professionals.
Why Denver? It’s temperate. The nearby mountains are beautiful. And it consistently ranks highly on Best Places to Live lists, showing up in the #2 slot on U.S. News and World Report’s rankings for 2017.
More than just a fun city, Denver’s job market is booming. The city was recently ranked the 2nd best city for job seekers, and Colorado boasts one of the lowest unemployment rates in the nation. In Denver, Millennial unemployment is 7.2%, almost 3 points lower than the nationwide rate. Not only are young professionals here more likely to be employed, they also have one of the highest median monthly incomes of their generation in any metro area across the country. Denver Millennials are not only a huge piece of the talent market, they’re finding significant success. This is particularly true for those in tech.
Denver’s IT industry has been booming, making it one of the best places for tech jobs. The city offers huge number of opportunities for capable Millennial tech professionals, with a robust startup community and ample networking. To meet the city’s high demands for IT professionals, the tech talent labor pool in Denver rose by 29% between 2010 and 2015, further building the city’s thriving tech community.
Despite this influx of tech talent, Denver’s IT job market continues to offer a lot of opportunity for Millennials. In 2017, Denver was ranked #12 of the top 50 tech talent markets in North America by CBRE. This ranking proves that the current Denver tech market is providing massive benefits to both employers and technology professionals. Since the IT industry has drastically low unemployment, making tech jobs more difficult to fill now than ever before, it’s time that organizations make a concerted effort to reach out to Millennial talent.
Millennials are changing the way we work – turning employers toward more collaborative, flexible workplaces and redefining recruitment. Organizations can no longer post jobs and wait for qualified talent to apply. They have to go into the field and actively recruit the strong employees they want – especially in fields with low unemployment rates like IT. According to a 2016 LinkedIn survey, 93% of Millennials are interested in hearing about new job opportunities, and 66% are open to hearing from a recruiter. These passive candidates are open to new roles, but companies have to take the initiative to locate and reach out to them.
Once you have found the talent you want to recruit, it’s important to tailor the hiring process to attract those individuals. Top Millennial candidates largely base their desire to join or reject an organization based on the business’ employer brand and digital presence. They seek out companies’ social media, their culture and values, and the perks and benefits of working there. Showcasing what your organization values and why young tech pros would want to work with you is a key factor in recruiting the highly skilled Millennial tech talent your business needs to propel you into the future.
Millennials not only compose a massive part of the Denver tech market, they also represent the future of the industry. With both a booming Millennial population and a thriving technology industry, the Denver tech market has benefitted greatly from the rise of Millennial tech professionals. Moving forward, a primary focus for employers should be on recruiting and retaining the Millennial talent that they need to ensure future success.
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