Do you have Millennials on your payroll? You know, those young adults born between the years of 1980 and 2000. It’s critically important to take note of this generation because by 2025 (not so very far away!), 75% of the global workforce will be Millennials. It’s also possible that the sustainability and ongoing growth of your business will potentially rest in their hands and so, by necessity, you must understand what makes them tick.
As for the “care and feeding” of this particular group of employees, well, they are truly different from the employees of years gone by. There’s been extensive research done on Millennials and here are some of the salient facts most relevant for business owners:
Millennials “care” and more importantly they want you, their employer, to care too.
They look at the challenges facing their world today, a somewhat defective world that they “inherited” and want the companies for whom they work to take action to improve and correct the ills that face the world. They like social change on a large scale basis but actions at the grass roots level are also highly respected. Bottom-line they want to be part of an organization that is engaged in doing good deeds for others.
Not current on your technology?
Expect Millennials to feel a bit peeved that they are working for a company that seemingly does not respect and appreciate that the latest technology can make the company operate more efficiently. We’re not referring to text crazy workers, but rather to much more sophisticated software and applications that can help everyone to be more productive.
Millennials came of age when they were encouraged to color outside of the lines.
Of course not all Millennial are creative thinkers, but for the most part, they like to be heard and given “real” opportunities to prove their ideas. Remember too that their ideas are, quite frankly, changing the face of how we do business today and should not be discounted simply because of their age and/or lack of experience.
Millennials want to lead…
…and yes, some of them might seem to be a bit impatient, wishing to rise to a position of leadership before they have paid their proverbial dues. But lead they will and if not in your company then they will strike out on their own and make their own opportunities. Prefer to keep them in your folds? Well then train them so that when you are ready to pass the baton, regardless of what the position or department, they are trained and ready to succeed at the challenges ahead.
There’s no looking back; the Millennials are here. It can be a highly charged and emotional situation for many companies that need to closely examine their corporate culture and (potentially) make adjustments to accommodate this new and engaged workforce.
Be certain to recognize this new generation and tap into the top talent that lies within. The benefits will be yours.
From the March 2014 Unique Business Solutions Newsletter