How Millennials Are Changing The Workforce Of Today
06/11/2019 — by Doris Lam
Millennials, for those who are baffled by the term, are defined as those born between 1980-2000. This generation are forecasted to dominate over half of the workforce by 2020. With an earned reputation for ubiquitously liking avocado toast, they don’t just brunch hard, they also work hard.
In recent years, millennials have been revamping the workforce and changing up the rulebook of how businesses operate. Whether it’s bringing in new tech to the office or setting up flexible working schedules.
Here are five ways millennials are changing the workforce of today:
All about collaboration
Shifting away from the old chain of command, millennials value group decisions and collaboration. The importance of having an inclusive collaboration process such as working in small groups on projects encourages co-workers to share ideas and innovations. Industry leaders, Dropbox and Google are prime examples of this phenomenon. Moving towards an open and flexible office layout that makes it easier for co-workers to collaborate and share ideas. Grey cubicles, boring office spaces, and non-interactive environments will not be here much longer.
As Apple continues to launch new iPhones, tech companies are continuously creating new systems, apps and equipment. There are increasing the speed and efficiency of our daily lives. While Boomers and Gen X-ers may be more hesitant to change, millennials embrace it. Having grown up surrounded by technology, they are more than willing to get hands-on with new gadgets and equipment.
Staying on top of technology also helps keep companies on top. Companies staying on the cutting edge of tech trends can attract curious employees to help develop and advance employees’ skill sets. They also position themselves as a known industry leader, pushing these businesses to the top.
Flexibility is a must
With the rise of technology, many tasks can now be completed at home. This is thanks to the easily accessible task sites, team chat rooms and collaborative documents. Remote work is now a requirement for many millennials when searching for their dream job, according to SHRM. Companies such as Amazon, Glassdoor, and Dell all have flexible working options or virtual, work-from-home opportunities. These are great options for employees looking to be closer to their kids or that live far from the office.
On the downside, the sense of community within the office may be harder to keep up. This makes it crucial for employers to have a plan in place for keeping employees feeling like part of the team to keep their motivation, loyalty and productivity levels up.
Millennials are conscious consumers and promotors of numerous movements. This generation leads the conversation on gender bias, inequality, discrimination and many more. According to a study conducted by Harvard Business Review, the top three factors that contribute most to a poor place to work are poor leadership; concerns about job security; and dysfunctional teams. A company with a bad reputation needs a minimum 10% increase in compensation to convince a candidate to take a job at the company. This costs about $4,723 more per hire. Conscious companies that share good morals not only attract more applicants, but also save money in the long run.
Sites such as Glassdoor allow potential employees to find out insider information on the company. This makes it easier for millennials to decide whether or not the company share the same values they do. It also inform on whether a future employer practices good leadership within the company.
As a generation that encourages conversation on mental health, therapy and emotion, gone were the days when personal struggles have to be locked up and separated from your work persona. Showing employees they are cared and valued for is shown to increase workers’ motivation and job performance. It also creates a strong relationship between the employee and employer that will increase worker retention.
This article does not constitute legal advice.
The opinions expressed in the column above represent the author’s own.