We’ve been hearing time and time again – Millennials are saturating the market. And it’s true! They literally will be taking over the workforce by 2025 – with 75% of global workforce being Millennials!
Not to worry though and PLEASE believe us when we tell you – Millennials are GREAT for business.
No one will likely argue that Millennials are the most educated generation, so now let’s take a deeper look at what exactly they can bring to your business.
· Millennials work with purpose and want to make the
world a better place. Millennials look deep into a company’s
meaning and seek organizations that align with good purpose. As long as your company provides them clear opportunities to contribute to the world at large – Millennials are going to thrive and will want to stay!
Take Jessica Alba for example – actress and entrepreneur who founded The Honest Company, which focuses on eliminating harmful chemicals by developing safe cleaning and personal products for households and individuals. Who wouldn’t want to be part of making the world a better place?
· Millennials are eager to take on more responsibility
and challenges. The idea that “Millennials are lazy” is inaccurate. In fact, more than 1/3 Millennials hold multiple jobs more than any other generation. Often, they are side gigs like selling items on Etsy, Uber driving or freelance writing – on top of their full-time job. Millennials are willing to accept more responsibility on their plate for extra income and fulfillment. For your organization – this means they will go the extra mile, and possibly take on that extra project you’ve been wanting to get done but have no time.
Side hustler, Brittny Robins is a great example. She was working a full-time corporate job, paired with a side job as an entrepreneur investing in creating her own skincare line. Skincare was her passion, but she still needed the security of a full-time job. Fast forward, Robins company Flawless by Friday took off and her products are now sold throughout stores in North America. Think about how can you bottle up that type of drive, motivation and creativity?
· Millennials want career progression. In fact, 91% of Millennials regard career progression as a top priority when choosing a new job. As an organization, consider loosening up the career ladder to encourage collaboration and growth horizontally. It’s not an option, companies NEED to make employee development, trainings and development a priority and engrain those into their culture. Millennials need frequent communication and feedback as well as an environment that encourages development of ideas and creativity.
Think about the world Millennials were born into… the internet allows everyone to get immediate feedback, access endless information and connect creative ideas around the world – instantly. Does your organization allow Millennials to take ownership in their role and cultivate the creativity, learning and growth to encourage them to stay?
Olivia Newell, 23, accounts and financial reporting supervisor at tax and consulting firm RSM, is currently reverse mentoring firm partner Nick Blundell, 42. She hopes someday to be in Nick’s position in the company and this mentoring opportunity is giving her the opportunity to vision herself in that role. Have you thought about creating, mentoring AND reverse mentoring
programs? Anyone seen the movie The Intern?
What have Millennials brought to your organization? What can you add to our list?