There’s still a stigma around Millennials at work.
People are often quick to describe them as entitled or discredit their work ethic.
However, Millennials matter!
By 2020, Millennials will form 50% of the global workforce, and they’re also on track to be the most educated generation to date. It’s time for the state of the workplace to adapt to the future workforce.
PwC research into the future of work found that instead of rigid corporate structures, millennials want a company culture that’s different from anything that has been the norm before. Companies with structures in place that cater to the modern workforce’s needs are the ones who are going to attract and retain the best talent. For example, tech giants like Google and Apple have innovative workplace cultures & management styles, leading to more millennials being attracted to the companies. These companies don’t stick to how things are supposed to be done just for the sake of it, instead, they use innovative practices, and have gained competitive advantages for attracting employees.
Work-life balance is now a trending topic when it comes to jobs. Millennials rank it as having a higher importance than salary, and for the modern workplace, policies which cater for this are a must have. This doesn’t mean simply having more time off for employees. Flexible working hours enable employees to work with more flexibility, allowing them to cater to out-of-work responsibilities too.
IBM have been in the press (as have Yahoo in the past) for their callback of remote workers. Despite once having a workforce that was 40% remote, they’ve called them back to a selection of chosen offices. However, when it comes to millennial preferences, 41% of those interviewed in PwC’s study say they prefer to communicate electronically at work than face to face or even over the telephone, which could make them great candidates for remote work. In fact, travel company Ctrip found that it’s employees who chose to work remotely were more productive than those who stayed in the office.
Collaboration is easier than ever too, thanks to the internet, which benefits remote workers. Because millennials have grown up with technology at their fingertips, and online communication being a norm, employers have to adapt their technological processes to keep up. This also benefits team-working, and thanks to being able to use apps that promote group-chats such as Facebook, WhatsApp, and more, millennials are able to communicate effectively in a range of ways. The majority want to be actively communicating and contributing!
The ability to attract and retain the best millennial talent is a vital step to achieving organizational success, no matter what the business does. And this doesn’t have to be scary for employers. Dan Black, Americas Recruiting Leader at EY says that “If you can provide a millennial the ability to contribute to the bottom line or bring their full selves to work — they’re willing to stay.” Adaption to meet the needs of the entire workforce is necessary for company success. Initially, reading about what motivates millennials might sound intimidating for employers, but Mike Maughan (Head of Brand Growth & Global Insights at Qualtrics) says “It’s not that they [millennials] want to be CEO or be a CEO tomorrow, but they want a seat at the table to be part of something.”
By adapting to meet the needs of millennials — whether it’s adding new communication channels at work, altering an office space, or changing the hiring process to ensure new employee’s cultural fit to an organization — employers will learn to meet the needs of this generation (and those that follow) to gain a competitive advantage.
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