Millennials, or people born roughly between 1980 and 2000, are very different than older generations in the workforce. Not only do they work differently, but they also consider different factors when it comes to finding the perfect job.
Why should you care? You should care because, according to the U.S. Bureau of Labor Statistics, they will make up 75 percent of the workforce by 2030. As we venture into the new decade this year, consider how the workforce is already changing and what your workplace might need to do to attract and retain new talent.
1. Better Work-Life Balance
Work-life balance is important to millennials. More concerned about living a healthy lifestyle, millennials want to feel supported at work. They look for companies that promote their way of life, whether that be through fitness programs, healthy dining choices, or the option to work from home. Millennials are also at that age where they are busy starting families and caring for their aging elders. They want the flexibility to take time off when their loved ones need them.
2. Room for Growth
Millennials want room to grow within an organization. They want their jobs to provide opportunities for learning and development. By providing these opportunities to your workers, your company has a better chance of retaining its employees and utilizing their new skills for the company’s benefit.
3. Online Presence
Having grown up in the generation of social media, with platforms like LinkedIn, Facebook, and YouTube, Millennials care about branding. Millennials trust outside input and appreciate commentary. Millennials take care in establishing their own personal brands. But it is oftentimes just as important to them that the company they work for creates a solid online presence too.
4. Concrete Praise
In today’s fast-paced society, people seek instant gratification. Millennials like to see their results. Because of this they like to have concrete goals and milestones that are attached to specified rewards. And oftentimes, verbal praise isn’t enough. Millennials also like to receive tangible perks, raises, and promotions.
5. Meaningful Contribution
Millennials want to make an impact and leave their mark on the world. They are eager to volunteer their time and energy if it means they are helping to create positive change. They don’t want to feel replaceable in their roles. They want to gain unique higher purpose. You can enable this sense of purpose by allowing your workers to collectively contribute. This will also help to build teams and strengthen the overall commitment to your mission and vision.
6. Inspired Intrapreneurship
Millennials have gained a reputation for job-hopping. But it is not because they aren’t committed to their work. Millennials want the opportunity to implement their own ideas. That is why some leave their nine-to-five jobs and start their own businesses.
But they shouldn’t have to leave your company to be an entrepreneur. Intrapreneurship is the idea of allowing your workers to take initiative and experiment with their innovative ideas within your company. In the end, it really matters to millennials that you allow them to make mistakes and try new things.
7. Stronger Connections
Millennials seek stronger connections, especially with their bosses. A millennial sees their boss as someone to learn from and someone who provides both professional and personal development. A millennial wants to be able to trust their boss and know that they can talk to them openly about any problems they may be facing.
