Millennials are the young adults who were born after 1981 and are considered as the “future leaders” of the society. They have ambitious career objectives, are technologically sound, have high emotional intelligence and are ready to replace the “soon-to-retire” Baby Boomers. Unlike their predecessors, millennials look for more than just a job. They look for roles which are interesting and career progressing. This is why organizations need to redefine their management style, company culture and modify expectations in order to be more appealing to their leading workplace occupiers – the millennials.
“Millennials want to work for organizations that prioritize purpose as well as profit. It’s as simple as that.” – Punit Renjen, Global CEO, Deloitte
Here’s what millennials expect out of their career and workplace:
Millennials expect freedom, responsibility and flexibility early in their career. They like to adopt their own individualized approach and make their mark. Allowing the individual to apply creativity at work or adopting a less formal attire at work – are some few simple approaches – which will make a millennial feel trusted and comfortable in the organization. Providing clear and concise instructions, achievable goals and clear deadlines alongside of these approaches will enable them to develop their individuality and nurture their leadership qualities.
The millennial generation is renowned for their use of technology and their adoptability to new and upcoming technological changes. With most millennials preferring emails rather than face-to-face conversations with their employers and most of them believing that access to technology makes them more effective at work, it is of no surprise that adapting up-to-date technological advances in the organization will enable a millennial to be more productive and responsive. Millennials respond better to interactive online learning tools, online testing tools and training videos rather than lectures and conferences. Using technology means being more accessible, which the millennials resonate to perfectly.
A good work environment is all in the energy of the workplace rather than the office space being really pretty. Millennials expect the energy of the co-employees to be high and inviting rather than sit in closed cubicles. They feel more comfortable in a high energetic environment, a motivating, encouraging leader and open/well-ventilated work place. Millennials believe that having an open workplace gets rid of barriers – figuratively and literally – enabling them to engage with other co-workers in terms of work, knowledge, information sharing and creating a fun environment! Millennials expect their employer to be more of a leader than just a manager. Having someone who will provide a constructive feedback, discuss goals and offer advice for betterment provides a more structured development in terms of career and self-growth. Most of these work environmental factors enables a millennial to have a more experienced insight into the company’s vision and in return better retention and happier future leaders.
Work-Life Balance and Other Benefits
Young workers expect a better work-life balance. It is observed that millennials are ready to take up a lower paying job which provides a better balance and stability. Not only do millennials look for organizations providing better work-life balance but also mental and physical health programs. Companies may have to prioritize mental health of employees, as studies show millennial employees suffer from depression more than other generations (Approx. one in five millennials report experiencing depression – according to Research from employee assistance program provider Bensinger, Dupont & Associates).
To conclude, millennials have different wishes and desires in terms of work and career when compared to their predecessors. It is not uncommon to see these young workers have 4-5 jobs in the first 6-10 years of their career. Placing higher emphasis on skills development and career progression, millennials seek a job which provides growth in these areas. They want the company to inspire, support and invest in their potential. By encouraging their career development and workplace satisfaction, work will be more than just a job. By implementing better talent management solutions, organizations can make sure they help millennials recognize their capabilities and increase retention.