More than 80 million strong and the fastest growing segment of the American workforce, Millennials will play a significant role in how most businesses will function. From business models, corporate social responsibility strategies and even the type of technology offered to staff and employees, Millennials will have a broad impact on business decisions.
Millennials were born after 1980 and are expected to bring a different outlook to work that employers may appreciate. With an expected 32 million in the workforce by 2016, business leaders must understand Millennials as future employees in order to prepare their business and adapt to the changes to come.
Here are key things to know about motivating and working with Millennials:
- They want to save the world. The Millennial Impact Report indicated that 63 percent of Millennials volunteered in 2011 and 90 percent are expecting to volunteer as much or more in 2012. This indicates that businesses need a strong corporate social responsibility program in place to reach Millennials and improve employee engagement.
- They are true digital natives. Millennials are extremely comfortable with technology and embrace social networks. Many rely on the Internet and social media to obtain information. Thus, communicating with Millennials through these channels can be beneficial when trying to engage and communicate to your workforce.
- They love feedback. Millennials want regular feedback and praise from their supervisors—much different from their parents and grandparents. They want to ensure that their work is being appreciative and that there are opportunities for mentorships. With constant communication between supervisors, Millennials are more likely to be happy and motivated with their work.
- They want more than just the paycheck. Millennials want their jobs to be meaningful.
Furthermore, they want to work for a place that is flexible and engaging. The People Report Workforce Index reported that Millennials will leave a job more quickly than those before them. As a result, it’s important that business leaders create a work environment that is fun and productive.