Most of the time millennials are defined as the generation born between the early 1980s and the late 1990s, although depending on what source you look at this can vary. Millennials are often in the spotlight for various reasons whether it be a new fad that they have spearheaded or how their behaviors have begun to change the market. It seems that they will continue to forge their way through our society and make their marks as they go and the chemical industry will be affected.
Consultancy Deloitte notes that 23% of those currently working in the chemical industry are due to retire in the next decade and millennials are going to be the generation that will have to fill that gap. In order for the chemical industry to attract this pool of talent, it will have to adapt to the mindset and expectations of this generation. This may prove to be a challenge because the chemical industry has been deemed one of the least desirable industries among this age group.
To change the perception of the industry and attract a generation with new expectations, the chemical industry will have to make some changes. Fortunately, the perception of the industry does not match with the reality. NACD and its membership have led the way for new laws and regulations in regard to the environment, public safety and employee safety. Providing flexibility, a strong onboarding program, and continuous interaction will be essential to attracting and retaining millennials. ChemCeed has been able to tap into this generations talent pool with some of their existing and newer employees. Through NACD and their community involvement they have been able to help shift the perception of the industry and attract new talent with their flexibility and work-life balance culture. Other chemical companies have begun to understand the need for these changes but they will need to embrace them quickly so they aren’t left behind!