The term “Millennials” refers to the generation of people born between the early 1980s and the early 2000s. They are also known as Generation Y because they come after Generation X—people who were born between the early 1960s and the 1980s. Irrespective of what they might be called, the fact is that Millennials are the fastest growing generation in the global workforce today.
A PwC research report “Millennials at Work—Reshaping the Workplace” reveals that by 2020, 50% of the global workforce will be made up of Millennials. By the same token, a study released by Catalyst points out that by 2020, 50% of South Africa’s population will be younger than 25 years old and organisations may face a talent shortage if not a labour shortage if they do not take cognisance of these facts.