For those who have been in the workforce for more than a couple decades, there has been a noticeable shift. A reported 10 thousand baby boomers retire each day, making room for the Millennial generation. Born between the early-1980s and early-2000s, they bring a distinctive new flavor to the workplace. Not only are they a force to be reckoned with socially and financially, their approach to employment is changing the way organizations operate.
Employers that adapt to these generational tides are positioned to thrive.
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1. A Focus on the Bigger Picture
Millennials – also known as Generation Y – have a reputation for caring about the work they do more than the money or title. This presents a tremendous opportunity for employers. Non- profit and public sector employers can recruit with their value, yet even private-sector companies should be able to articulate why their work matters. Recruiting this generation helps managers focus on the bigger picture by examining the purpose for their company’s existence and how their organization impacts the world.
2. Greener and Cleaner
This generation also cares about the environment. Many are interested in a potential employer’s environmental stewardship. They want to be part of organizations that make positive contributions. Working in sustainable environments also is important. Companies that practice sustainability policies and encourage practices such as ridesharing and biking to work often appeal to Gen Y.
3. Efficiency through Technology
Millennials born in the latter half of this generation are truly digital natives. They have only known a world where everyone has a cell phone. A lowercase "i" in front of words has always been part of their vocabulary. They do not rely on customer service phone numbers, experts or face-to- face interactions. They want to do things on their own.
Millennials apply for jobs from mobile devices and they want to get information conveniently. They are prepared to compare benefits and fill out paperwork online. Questions will arise, but it will be just as acceptable for them to instant message as it would be to call HR managers.
These factors impact employers in multiple ways. Among them:
Exposure to new ideas and thinking: Gen X isn’t limited by historical practices because they are used to accessing a broad spectrum of information and distilling it to content that matters – or brings a new perspective.
Greater efficiency: Technology forces organization to become more efficient. If done properly, it may also present the opportunity to save money.
4. More Ways to Spread the Word
Adeptness with social media is another plus for Millennials. For employers, this can be a double-edged sword. The reach and promotional abilities Gen Yers possess are tremendous. On the other hand, not every employer is in a line of business that wants or needs this kind of attention. Topics older generations may not dream of sharing publicly are ones that younger generations post on Instagram. Employers have to be clear about what is acceptable, yet should also be open to the advantages social media may deliver to their organization. There may be new ways to broaden your reach and communicate with stakeholders that could be easily accomplished with these tools.
Millennials prefer frequent, real-time feedback over annual performance reviews. Discover how GoCo's modern HR software can help you schedule weekly check-ins to retain your top talent.