In the last decade, we have witnessed an influx of millennials in the workplace. This has led to some significant changes in workplace dynamics. The expectations, attitudes, and professional goals of this generation differ significantly from the baby boomer generation. Consequently, businesses have had to reevaluate their existing work practices for hiring millennials. Let’s take a look at some of the main ways millennials are driving change in the workplace:
1. They Want to Work Remotely
Millennials prefer flexible work schedules. According to a study, providing millennials with a flexible schedule that includes work-from-home privileges is a deciding factor in whether they choose to work for an organization. 37% of millennials say they would prefer to leave their current job if a new job opportunity allows them to work remotely on a part-time basis.
This generation makes work-life balance a priority. It also plays a significant role in their overall productivity. For instance, if organizations allow employees to work from home 3 to 4 days a week, then they can expect employee engagement and productivity to increase.
2. They Look for Gigs
Millennials prefer gigs over permanent employment. Unlike the previous generation that would be associated with the same organization for decades, most millennials tend to switch jobs very often. This is particularly prevalent for millennials working in the IT industry. Let’s take a quick look at some facts and figures to understand this better:
|Length of Experience In Years ||Average Length Of Time Spent On A Job |
|20+ ||12 years |
|10 – 20 ||5 years |
|5 – 10 ||27 months |
|0 – 5 ||13 months |
If you notice, there is a declining trend here regarding the length of experience vs. the average length of time spent on a job. A person with more than 20 years of experience appears to have spent 12 years on a job. However, a person with 5 to 10 years of experience has spent only 27 months on a job. This indicates that these professionals mostly work on a part-time basis.
3. They Prefer to Do Meaningful Work
Gone are the days when organizations could hold onto their best employees by providing them with a better compensation package. Millennials do not want to work just for the sake of it. Instead, they want to be a part of something bigger than themselves. 72% of millennials want to a part of something that has a social impact. 60% of millennials prefer to work with an employer with a strong vision for the company.
This generation pays a great deal of attention to the reputation of an organization. They prefer working for an employer that maintains ethical conduct and shows concern for the environment. Even in terms of consumerism, millennials prefer to buy from brands that behave in a socially responsible and ethical manner. If a millennial feels that an organization’s work practices go against their personal values, then they will consider switching to a different job.
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4. They Find Work Differently
Millennials behave differently than previous generations when it comes to job hunting, as well. They do not peruse job postings on recruitment websites or in newspapers. Instead, they prefer to look for employment opportunities on social media. They also rely on referrals provided by their friends and family members. Thus, companies looking to hire millennials in the workplace must adopt recruitment strategies that align with this behavior. This can help them build a large pool of potential applicants and hire the most suitable candidate more effectively. It can also reduce their recruitment costs.
5. They Choose Carefully
Millennials are very picky about the type of job and organization they want to work in. This is particularly notable for individuals in STEM fields. In most cases, millennials want to use their skills and talents to do something they are passionate about. They also care about the level of autonomy granted to them by their employer. They do not believe in compromise and prefer jobs that suit their lifestyle instead of the other way around.
However, millennials are not completely unorthodox in their approach to job hunting. Like baby boomers, they also look for perks such as health insurance and paid vacations. They will factor in the pay raise offered as well.
Wrapping It Up
The presence of millennials in the workplace is bringing about a series of changes in how organizations recruit and retain their employees. Companies must understand this shift and be willing to offer a fair amount of flexibility, autonomy, and learning opportunities to these employees to encourage them to do their best.
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