By John Yurkschatt, IT Director of Sister Company DCA
In 2014, Millennials comprised 36% of the workforce. By 2025, they will make up 75% of the workforce. Compared to Baby Boomers and Gen Xers, the Millennials have a very different view of what the workplace landscape should look like and therefore, come into the workforce with different expectations. We’re already seeing some companies, including our own, that have adopted new techniques for hiring, motivating, managing, and retaining this young talent. Eventually all companies will need to adjust and prepare for this emerging demographic and shift.
On the whole, millennials are hard workers. But what do they really want in the workplace? Here’s our list of the 7 ways they will reshape the future of work:
Emphasis on Technology. As the most technologically literate generation, millennials find it important that employers keep them connected with the latest and best technology including mobile platforms. In fact, many companies now offer online pre-interview questionnaires and video interviews. Not only is the video interview process a cost-effective and convenient way to screen candidates, it also highlights the company’s use of technology and can help draw in top talent.
Corporate Culture and Meaningful Work are Paramount. Millennials say that meaningful work is a key factor when accepting a job. They want to know that their work will have a positive impact on their co-workers, manager, and on the company at large. In addition, millennials are especially fond of volunteering whether for skills-based volunteering or company volunteering days.
Leadership Must be Transparent and Authentic. Transparency is one of the top four qualities that millennials look for in leaders so it’s no surprise that when they become leaders it is something they will make a priority. Also, this generation is able to smell phony and pretentiousness a mile away. They’re fed up with politicians and business leaders who don’t keep promises and are more concerned about personal gain than serving others. They want leaders with integrity.
Working from Home Will Become the Norm. The Census Bureau reported that 13.4 million people work from home in America. That number will only continue to rise as more Millennials enter the workforce. They like the idea of remote connectivity and dislike the idea of being confined in an office from 9 to 5. They value a work/life balance but expect to stay highly connected and engaged with their employer and team.
Rewards and Instant Gratification Expected. Millennial expectations for rewards and instant gratification are due to their emphasis on connectedness and communication. Technology has cultivated an expectation of quick responses and immediate appreciation for a job well done. However, this appreciation is not necessarily monetary. Instead, millennials want their ideas to be considered, appreciated and implemented.
Annual Performance Reviews Eliminated. Millennials want feedback in real-time or at the very least, on a regular basis. They aren’t willing to wait until an annual review to improve. In addition, they want to know what’s expected of them from the start.
Leadership Development a Must. Millennials have a strong opinion about how they will learn and develop leadership skills. Career coaching, mentorship programs, and rotational assignments are the most desired types of leadership training. Less important are the traditional types of training including e-learning, university courses and instructor-led classes. Millennials want to learn through experiences, rather than traditional training.
If you’re a Millennial, what other changes do you see coming in the workplace? Please post below.