Millennials are those born in the new millennium.
It is estimated by the year 2020, most of the work force will comprise of millennials. A look at the demographics says that 2/3rds of the millennials will be whites and single.
It is expected that the baby boomers might prolong their retirement yet leaving a gap of the knowledge when they leave which only the millennials can fill. They are expected to job hop more than ever and will cost their companies a huge attrition-related expense.
Hence employee retention will be the major concern in the times to come. Job satisfaction will be placed higher than larger pay checks, by the millennial employees.