The business world is slowly but surely shifting its focus to modern millennials in search of talent, dedication, perseverance and creativity only a young, thriving mind is able to offer. The modern millennial is becoming the staple of the 21st-century workforce, yet companies that have yet to transition to a modern business model and still preserve traditional values might find it difficult to acquire and retain young, talented minds.
There is a need for businesses to change with the times, and align their goals with those of the individual in order to create a thriving workplace able to accommodate and nurture a mindful millennial who does not only have their eyes set on the monetary prize, but on self-actualization and fulfillment as well. Here is what millennials truly want in the workplace and how you can make their wishes come true in order to pave the road to success.
Making an impact and doing the right thing
Whether it is environmentalism, humanitarianism or any other form of altruism, millennials want to feel like they are doing the right thing. They don’t have to necessarily be involved in altruistic practices themselves, but they do have a need to work and thrive in a company that supports all the right causes.
Introducing an eco-friendly policy across the board is a good way to promote a positive brand image and inspire prospective employees to engage with your company, or lose them to your competitors who care about the environment.
Equality in every sense of the word
The days of workplace inequality and injustice are long gone and, in today’s world, the race or gender of the employee does not have any significance in determining their status within the workforce. That means that equality is one of the most important factors millennials take into consideration when applying for a job at a company.
If your company is not able to provide equal rights to all of its employees, you will not only lose potential team members, but you will also irreversibly damage your reputation and your brand’s standing in the competitive market, both in terms of your product brand and your employer brand.
Financial security
In order for your employees to stay with you and consider themselves as a part of your company’s family, they need stability and financial security. Stability grows ever more important in the competitive and constantly changing job market, and even though a millennial will not solely rely on one source of income, the conditions they work in must meet their demands so as not to lose them to your competition. And millennials are not afraid of switching jobs in pursuit of financial stability.
Along with enjoying perks of the job, timely rewards and salary increases, millennials are also regularly taking an age pension income test in order to determine their eligibility for a state pension and whether your company is doing everything it can to help them secure their nest egg and pave the road to a happy silver future.
Teamwork and communication
Yearly evaluations, hierarchical communication, and blind obedience without a chance to be heard are all things of the past in the modern workplace. While hierarchy will always be important in any business setting, the millennial has the need for their voice to be heard, their input noted and the actions commended.
Rather than regarding this as an unnecessary nuisance, companies are actually presented with an invaluable opportunity to tap into the endless source of creativity and ultimately, success. That is why constant communication, guidance and feedback, as well as teamwork, are of the essence in a modern workplace with a growth-oriented strategy. By simply communicating with your employees and noting their input, you can successfully nurture a satisfied workforce.
Flexibility and freedom
Finally, a millennial does not want to be bothered with timestamps and rigorous working hours. This doesn’t mean that a millennial is inherently lazy, it means that young, thriving individuals want the freedom to manage their own schedule and get other things done during the day besides work.
That’s why it is important to have flexible working hours, and be reasonable when it comes to working from home or abroad. A millennial will give it their best to help your company reach the stars, you simply need to open the cage and let them roam free.
It’s not easy being a millennial in the modern work environment, nor is it easy being a company that tries to please its employees. Fortunately, with these valuable insights you can acquire a better understanding of the modern workforce and introduce new solutions that will nurture a thriving collective determined to lead your business to success.
