As of 2017 Millennials have been the largest % of people in the workforce numbering at 56 million. Having been born between roughly 1981 and 2000, they make up 34% of those currently in, and/or entering the workforce.
While Millennials have been branded as “job-hoppers”, “lazy” and a range of other adjectives that tend to paint the generation as not ready for a fulltime job, this couldn’t be further from the truth. What older generations do not realize is that while this generation may be demanding of the kinds of benefits they want from their employers, they do have the skills for the modern workplace having mainly grown up in a world governed by technology, to warrant the things they want.
What’s more is that 73% of them not only expect to need additional education or training to advance their careers and 86% of them are confident in their ability to gain these new skills, only 34% of them believe they will receive the training they require or want from their employers.
While many employers believe they can entice the Millennial generation with free breakfasts and game rooms on their off-time, in truth, most businesses are failing to retain this workforce simply because they are not taking the time to listen to the demands of the current populace.
While Millennials may have unfairly acquired a bad reputation they have the drive, willingness to learn, and ambition that proves it wrong. Given their desire, skillset, and sheer numbers we think it’s time to cater to their demands and offer them what they want instead of assuming what they may want. The aforementioned 34% will only continue to grow as we go forward.
Contrary to the idea of working 9-5 in a very standardized work schedule that has prevailed within most of western society, Millennials have grown up with very different ideas about how they want to live and are demanding that it be reflected by their employers. , of whom 30% want this option, the advent of laptops and the smartphone has made this possibility much more attainable, and while employers may fear that kind of freedom to be given to their employees, there are many more benefits to be gained by addressing and offering these incentives to your workforce.
Furthermore, the world has become much smaller in their generation, as such, traveling and their social and familial responsibilities have become very important to them. Also, engaging in a healthy lifestyle has also become of great importance to this generation. Just take a look at the plethora of Instagram profiles with aspiring fitness models, or those who are simply documenting their fitness journeys.
While there is an argument to be made about the culture of a company needing to be fortified by people working at the actual company, you can make caveats that only a few days a week, or month can be given for remote work only after they’ve passed their probationary period of 3 or 6 months. This allows them to not only learn about your business’ culture but also gives them the time to prove they have the responsibility to work from home effectively.
Overall, one of the main things that seem to drive the Millennial workforce is choice, with decision making capability. As is reflected by them searching for a kind of job that meets their demands so ardently. They want the ability to be responsible for themselves and their work and be shown recognition for their good work. If you want to keep the current workforce interested in what they are doing, do not be afraid to trust them and empower them with decision-making capabilities. Foster their growth within your organization by giving them all the resources to make them the most powerful employees they can become and your business will only profit from it. One of the most famous quotes that has circulated around many HR and Employee Engagement platforms is the following that takes place between a CFO and a CEO:
“CFO: What happens if we train them [employees] and they leave? CEO: What happens if we don’t and they stay?”
Employee Recognition and Rewards are easy, and big ways in which you can foster the loyalty that the Millennial generation is seeking for in their working experiences. The Applauz Recognition platform is one of the easiest ways to begin fostering exactly that. Take a look and get your Engagement and Retention of this vast workforce off to a great start.