By 2020 millennials will make up a third of the global workforce!

03 Dec By 2020 millennials will make up a third of the global workforce!

Reports show that by 2020 millennials will make up a third of the global workforce, so hiring Millennials is something we are all going to have to get used to doing. So, we need to forget the stereotypes that have emerged, because millennials are starting to change the corporate world, and it is imperative we know how to attract them, develop them and keep them.

“The employment rate for millennials is at a near record high for the 25-34 age group at 82.0%. “ – Millennials, Parliament UK, 2017

The generation gap can make hiring younger generations a little tricky, especially with the contrast in the way each generation views work and careers. Millennials don’t just want a 9-5 job, they want a career where they can make an impact, gives them variety and work in an environment that helps them to develop and at a fast pace.  Now that’s not to say other generations don’t want the same thing, but millennials have been brought up by the baby boomers to believe they can do anything and be anyone – so they are innovative, digitally diverse and entrepreneurial.

So, what can we do to keep up with what our millennial workforce wants?

Listen:

Listen to what your workforce wants. This may well mean a compromise that might at first feel very uncomfortable, but if it makes your employees happier and more motivated – happy days.

Give them flexibility:

Be flexible – some of your staff might be more productive with a lay in, and a later start to the day…. some might prefer the opposite – there is nothing wrong with being flexible.  Sounds radical to some but if you want your employees to perform at their optimum level, think about introducing a little bit of flexibility – maybe even career breaks or extended leave.

Allow them to develop:

Give your employees the opportunity to grow and develop.  To quote Richard Branson “train people well enough so they can leave, treat them well enough so they don’t want to”. How empowering is that? Growth is a two-way street – you want your business to grow, so you have to enable your employees to grow too.

Trust:

Trust your employees until they give you a reason not to.  Millennials are probably more hard working than you give them credit for – statistics show that 73% of millennials work more than 40 hours a week, with 25% working 50+ hours.  They understand the value of growing their skills, so most millennials don’t mind putting in extra hours. Remember they are digital communicators and nowadays there isn’t a lot that can’t be done remotely with the use of technology.

Culture:

The majority of millennials don’t just want to go work and then go home, they need to enjoy their job, and for them to enjoy themselves they must enjoy their environment – think modern offices, bright colours, high tech, coffee shop and add-on’s. Doesn’t have to cost a fortune, just look good and trendy.

So, to summarise – listen to what it is your staff want, and although the speed of change in business continues to gather pace, make sure you make every attempt to keep up with that pace if you want a happy and stable workforce.

 

Look after your millennials, and they will look after you.