The millennial generation has become the largest generation in the current workforce. It's comprised of people born between 1980 and 2000 and is currently attracting the attention of both sociologists and employers. Millennials now hold the key to business success, so companies large and small must learn how this generation is reshaping the workplace culture.
Millenials Ambitious Career Aspirations
Workers in the millennial generation have high aspirations for the future and will take necessary action to convert their hopes and ambitions into reality. According to surveys, members of the generation will relocate, travel frequently, and work extended hours in pursuit of their goals.
In return for their willingness to go all-out for their employer, millennials expect constant feedback about their performance and rapid advancement through company ranks and an exciting career. A PwC study reports that achieving a high-paying career has become the top priority of two-thirds of millennial women and almost three-fifths of millennial men. Additionally, 62 percent of millennials think they can impact their communities, and 40 percent believe that they can change the world.
Millenials Different Attitudes About Work
Millennial workers want to have a balance between work and their personal life, suggesting that they care about more than just financial rewards. Workers from the millennial generation also want recognition for their contributions to the company and encouragement from their employer to excel.
The influence of the new generation of labour has reshaped the workplace, making it less rigid, and more accommodating on the part of employers. Employees, on the other hand, feel they have little time to waste so they will quickly change employers if their current position doesn’t meet their expectations.
Great Command of 21st Century Skills
Workers from the millennial generation expect technology to fuel innovation and facilitate communication. As a group, the employees naturally improve their knowledge and skills through the use of advanced technology as part of their commitment to personal development, contributing to ongoing productivity improvements in the workplace.
Despite their appetite for flexibility and recognition, the new wave of workers has much to offer their employers. Fluent in advanced technology as a result of growing up in a world where advanced technology always existed, the employees can focus their efforts on business processes rather than learning how to use software and devices. As a whole, the group prefers electronic communication to in-person conversations, more than their older counterparts, because they improve their effectiveness through the use of technology.
Attraction to Employer Reputation
Due to the Millennials' aspirations to make a difference, they are generally more attracted to positions with a clear purpose and contribution to the world. Workers with that type of engagement also want to feel proud about their employer. Because of that, some companies or specific sectors might have to work on communicating their positive aspects more clearly in order to attract top talents. Basically, Millennials are attracted to those brands they admire as consumers.
Together with their coworkers, the new workforce can build a positive reputation for the firm that attracts more talent to employ and more public support. However, studies indicate that, even though they appreciate corporate values, they would be willing to compromise their principles during economic downturns.
Changing Employers’ Attitudes
The growing prevalence of workers from the millennial generation has influenced corporate behavior in many industries, resulting in flexible operating policies and the adoption of new technology. As more companies gain advantages through the engagement of the new generation of workers, competing firms increasingly feel pressured to match their progress, causing, even more, change in the way people do business.
Companies must abandon their rigid structures and cultures for new policies that meet the needs of their changing workforce. Enterprises that fail to adapt will fail to attract the talent and goodwill they need to remain competitive in the global marketplace.
Firms must develop systems to give employees the recognition they crave and assign them roles that put them on a concrete forward path. New two-way communication policies that encourage cooperation and support will help management and employees cooperate in ways that achieve synergy. Additionally, companies will need to develop fair compensation packages that combine wage and profit sharing elements and a role in the corporate decision-making process.
A new generation of workers has taken its place in the workforce, prompting significant changes in the way firms relate to their employees. Meanwhile, a new breed of workers that has grown up in a world of technological change and innovation is giving companies significant strengths that add to their ability to compete. As the Millennial Generation reshapes workplace culture, they have brought a well-educated and versatile twist to small businesses as well as the corporate world.
Joe Peters is a Baltimore-based independent marketing consultant, freelance writer and an ultimate tech enthusiast. When he is not working his magic in the business realm, this incurable tech junkie enjoys reading about latest apps and gadgets and binge-watching his favorite TV shows. You can connect with him on Twitter or Facebook.