How Millennials are changing the workforce
Tech driven and data savvy, millennials have made a name for themselves as one of the most dynamic generations to ever join the workforce. While they’ve sometimes gained a bad reputation for a perceived lack of focus, their skills and talents shouldn’t be underestimated. The first generation to grow up with access to technology at their fingertips, millennials have been paving the way for new workplace attitudes. By 2025, it’s estimated that they’ll make up 75% of the workforce, with a huge amount of management positions already filled by the younger generation. But how have millennials changes the workforce? And how will this continue to develop as they gain more experience and knowledge?
The first generation to really engage with social media, millennials haven’t just made it a fun pastime- they’ve integrated it into work life. From Facebook to Twitter and Instagram updates, every company worth their weight in hashtags is posting about their activities. The use of social media driven by the younger generation has helped to establish a more relaxed and transparent approach to communication, which is also reflected in day-to-day office life.
Chop and change
According to a report by PwC, more than a quarter of millennials feel they are likely to have six or more employers in a lifetime, As a result, it’s common to see more job-hopping among the younger generation, but it doesn’t mean you can’t retain your employees. Offering opportunities from within, as well as training, will enable you to cater for the fast-paced needs of millennials. Around 52% of younger people will stay at an organisation if they have a clear progression path to follow.
Thanks to the millennial work ethic, the classic ‘9-5’ has been blown out of the water by more dynamic working practices. Good maternity packages, flexible hours and working from home policies are all something that the millennial generation has embraced, leading to a new and different culture in the workplace. Particularly benefiting parents and part-time workers with other commitments, it’s also revolutionised the way we’re able to work with other countries.
CSR and sustainability
Corporate social responsibility has generated a bigger buzz than ever before with the millennial generation, with 75% admitting they would take a pay cut in order to work for an ethical company. They’re keen to work for organisations with corporate social purpose, and ethics are extremely important to them. Consequently we’re going to see more focus on sustainability and workplace community projects, particularly as more millennials take on management positions and start calling the shots.
Around 71% of millennials have an appetite for work-based travel, which is good news for the growth of global companies. We’re likely to see an expansion in the number of opportunities to work abroad, as well as companies based in more than one location. The availability of technology means we can communicate quickly at any time of day with all corners of the globe, making it easier for brands to form international links.
Diversity is important for millennials, with 55% of PwC survey respondents saying that although many organisations talk about diversity, few take real action. But over the next few years we’re likely to see the gender gap in high-level positions close, as well as a growing number of offices making their space more accommodating for those with disabilities. We may also see changes to the hiring process, in order to maximise opportunities for those from less advantaged backgrounds.