Millennials, the generation born between 1981 and 1997, have become the focus of many demographic studies. Because they range in age from 18-34, millennials are studied for their impact on spending habits, shopping experiences, and business and employment (Pew, 2015). They’re a huge part of the workforce but are also the generation most likely to eschew the traditional workplace in favor of starting their own businesses, investing in startups, and working from home rather than in a traditional office setting.
They’re also amazingly tech savvy and can help older companies and corporation integrate into society’s existing tech environment. Not like older generations such as the baby boomers, millennials never knew a time period without computers, cell phones or the internet, technology was always present in their lives, it’s in their DNA (Marston, 2007).
1. Integrate Flexibility
Most millennials view strict adherence to a 9-5, in-office work schedule as outdated. Just as they thrive in casual work environments, they often prefer work hours and work locations that are less rigid than in previous generations. Consider allowing millennial employees to telecommute, freelance, trade shifts, and shorten work weeks. The goal, after all, is to get the job done, and allowing these employees to exercise flexibility might produce surprisingly consistent productivity.
2. Integrate Coaching & Collaboration
Millennials typically prefer not to work in a setting where they’re micromanaged. When employers guide and direct, yet leave room for personal development and self-management, millennials respond more favorably. Like 9-5 corporations of past generations, today’s companies want to reap the greatest productivity from their employees. Encouraging creativity, input, and team building will reap mutually beneficial results and allow millennials to feel valued.
3. Integrate Their Lifestyle
While devoted to their jobs and careers, Millennials hold a firm belief in a work-life balance. They thrive in companies that offer flexibility, paid time off, personal days, family leave, and emergency leave. Involvement in family activities and lifestyle and community events is important to them. They look for companies that allow employees to foster a well-rounded life and have time for friends, family and social events.
4. Integrate Growth Practices
Millennials appreciate opportunities to advance their careers – they may even look for opportunities to buy into the companies that employ them. They prefer careers with an upward trajectory to ones that remain stagnant with little to no possibility of growth or advancement. Instead, they have a greater interest in a company they can grow with or grow into.
5. Integrate Company Culture
The millennial generation isn’t always as matter-of-fact about accepting the existing climate of their workplace as previous generations. They look for clearly defined company cultures and principles. When those principles are clearly integrated into their work environment and into the products and services they offer, this generation will thrive. Rather than a faceless, personality-less corporation, this generation of employees prefers a business with a social conscience that has an impact on its community and on society.
Successfully incorporating millennials into your business means preparing them for today and for tomorrow. When they learn to lift as they climb, your company gets the best Generation Y (Millennials) have to offer, while simultaneously preparing Generation Z for the future. At the same time, they’re learning best practices from Baby Boomers and creating a generationally diverse workforce. That constitutes a win-win for everyone.
References:
How Companies Can Change Their Culture to Attract (and Retain) Millennials (Feb, 2018)
Retrieved from https://www.business.com/articles/how-are-companies-changing-their-culture-to-attract-and-retain-millennials/
Marston, Cam (2007) Motivating the “What’s in it for me?” Workforce: manage across the generational divide and increase profits. Hoboken, NJ: John Wiley &Son
Millennial Employee Engagement & Loyalty Statistics: The Ultimate Collection (Feb, 2018)
Retrieved from https://blog.accessperks.com/millennial-employee-engagement-loyalty-statistics-the-ultimate-collection
Millennials surpass Gen Xers as the largest generation in U.S. labor force (2015)
Retrieved from http://www.pewresearch.org/fact-tank/2015/05/11/millennials-surpass-gen-xers-as-the-largest-generation-in-u-s-labor-force/
We Can Work It Out: Integrating Millennials Into the Workplace
Retrieved from https://www.rims.org/Session%20Handouts/RIMS%2016/CAD005
/CAD005_Liberty%20Mutual_Millenials_Final%20Tues.pdf
5 ways to attract millennials to your company (Jan, 2018)
Retrieved from https://blog.aiesec.org/5-ways-attract-millennials-company/
