How to Prepare for the Millennial Workforce
Millennials are here to stay, and there’s no denying that. According to recent statistics, one in three American workers is considered to be Millennials. Also, by the year 2020, half of all US workers will be comprised of millennials. This generation of workers has for some years challenged the traditional methods of working procedures and has been forcing companies to change and improve their workplace to accommodate their ever-diverse needs.
Millennials are no longer accustomed to getting stuck inside cubicles and working 9-to-5 schedules. Instead, they prefer to work beyond workplace norms such as telecommuting or working in other locations other than the office. But that’s completely normal. Apart from the Millennial workforce that the business owners must think about, there is a new generation that is now entering the workforce, Generation Z, which are more demanding and complex than Millenials, and for them, new methods and procedures need to be outlined to lure them in the work. And this is not only happening in one country. This phenomenon is gaining momentum everywhere, especially in superpower countries such as the US and China.
In China, companies have already started shifting their processes and work culture to make them more adaptive to the millennial workforce.
In fact, as they have a large number of startups, and most of these startups are already owned by Millenials themselves, it is much easier for them to adapt for the upcoming generations because they themselves are part of it. However, for companies that are looking to set up their business in China and need to hire new millennial workers there, a headhunting company in China can accommodate these changes easily.
Embrace new technologies
Statistics have revealed that Millennials will represent 75 % of the workforce by the year 2030. As they are the most technologically adept generation, their impact in the business world is undeniable. For the retail industry, namely wholesale distribution, employees need to think about the fact that the millennial workforce prefers to process data easily with advanced technology and conduct real-time analysis on trends. This represents a challenge for most wholesalers, given that they operate on old and outdated management systems. Possible solutions would be investing in CRM systems, to enable them to have a direct and real-time relationship with customers and partners, to have all the data on smartphones rather than on desktop, invest in cloud-based applications and opt for online commerce as this is a real trend which is only growing.
Promote Creative Collaboration
Companies don’t need to make their companies look like Google’s or Apple’s office where there are slides and sleeping pods. Millennials are fond of human interaction and are eager to show off their creativity at any given opportunity. Whether a company has a local office or running a remote staff, promoting a creative environment combined with opportunities to be creative will make any millennial feel that they are part of something larger and will always be motivated to participate in the day-to-day operations of the company.
Give Millennials A Chance To Showcase Their Personality
To do this, a company needs to revamp its hiring processes and hire a recruitment agency. One of the traits that any company HR needs to be on the lookout for is what’s known as hyper-customization – which is a tendency for customization, ranging from playlists to clothing to education. Millennials applying for jobs are now equipped with varying degrees, so it’s not going to be easy to compare candidates. Instead of focusing on GPA’s and academic performance, companies need to look at a candidate’s personality and how it fits their company. Rather than focusing on what they’ve accomplished in college, give them a chance to show them who they are.
Straightforward Communication Is The Key
According to three national studies, when millennials were asked how they want to communicate with bosses and co-workers, 84% preferred face-to-face communication over any other channel. This is quite surprising given that millennials are glued to their iPhones almost all the time. Millennials are equipped to receive feedback without taking offense.
Encourage Independence Within The Workplace
This may sound contrary to the first point, which is to encourage collaboration, but millennials thrive on independence as well. And it would be a big mistake to assume that millennials aren’t capable of working alone. In fact, they actually believe in the adage “if you want to get work done right, do it yourself.” A fine balance between independence and collaboration will give millennials enough motivation to get the work done.
Acknowledge That Millennials Will Have Side Gigs
Companies make the mistake of firing millennials for having side gigs or other jobs on the side. It’s called moonlighting, and it’s often taboo in the workplace. But even before millennials took over the workplace, moonlighting was already an issue, so why make this a big deal? Millennials are known to have side jobs or gigs on top of their full-time income for several reasons, and mostly because it helps them reach their financial goals faster. If an employee is working for a website design firm and works part-time as a baker, there’s no issue at all because these are two different industries. But if he or she works part-time for another firm, then that’s a conflict of interest. All in all, companies should be lenient and more accepting of the fact that millennials may have more than one job. As long as it doesn’t affect the quality of their work and the integrity of their employment, companies can safely turn a blind eye against moonlighting.
Millennials thrive on perks and benefits, and this goes beyond any usual company benefits. Whether it’s providing them with healthy snacks, free gym memberships, or even something practical as on-site laundry, millennials want to work where they feel they’re appreciated by their employers. And perks are one way of getting them to feel that way. Practice Employee Recognition and Rewards on top of perks, practicing employee recognition has a fairly large impact on motivating millennials to collaborate and to show their personality in the workplace. A recent study showed that 37% of employees with a top motivator for really good work were found to have chosen “Recognize Me”.
It is safe to say that millennials are taking over the workplace, and within the next few years, we’ll be seeing an entire company run by the next generation of the workforce. Accommodating these changes will help companies adjust to the different needs of the workforce without the need to change physical or financial infrastructures. To put it simply, these changes listed are not going to break any company’s bank.