Much has been written about how millennials work as this generation enters the workforce. Although much of it has been derisive, it cannot be denied that millennials are shaping the workplace. In fact, by 2020, almost half of the working population will be millennials. With this in mind, employers have begun trying to tailor their workspaces and company cultures to accommodate these new hires. From workspaces on demand to offices with arcade games, millennials thrive in certain working conditions. Keep reading for some helpful tips on how to make your workplace millennial-friendly.
Recognize the Difference Between Wealth and Money
In a way that no other generation has before them, millennials look at wealth and money as separate concepts. This generation has grown up not counting on retirement or nest eggs, so they accordingly stress their desire to have a life rich in experiences, not necessarily cash. The goal for many millennials is to live a life where they can pay their bills and travel a little, not amass vast amounts of money. These employees also rank freedom as what they value most in a position, meaning that many often take pay cuts for the ability to work flexibly or from home some days.
While millennials often get a bad rap for never wanting to hear criticism, research actually shows that feedback and transparency are incredibly important to them. Receiving feedback is important to this generation not only to confirm that they are doing things right, but also to offer them opportunities to continue to learn throughout their careers. More so than ever, employers need to make sure that they’re providing their staff with clearly articulated plans for the future. Older organizations often aren’t prepared to handle the amount of feedback millennials request, but would benefit from getting organized.
Consider Company Culture
Although “corporate culture” has been around since the 1970s, millennials are much more interested in it than previous generations. In fact, millennials are willing to give up $7,600 of salary a year to work at a company that provides a great working environment. This includes a focus on diversity and inclusion, as well as corporate social responsibility initiatives, and some forms of peer-to-peer learning. It also means that you may need to pay attention to how the attitudes of your employees affect your corporate environment. Millennials like to feel that they are making a difference, not just putting in hours. If a majority of your employees have an unwilling or aggressive attitude, millennials will quickly become frustrated.
Although making some changes to your office to attract millennial employees may seem a little over the top, you’ll ultimately benefit by retaining a strong, motivated workforce. Remember to offer feedback, flexibility, and opportunities to make a difference and you’ll attract new talent in no time!