According to a recent studyfrom Pew Research Center, millennials, also called Gen Y (people aged between 23 and38 years), are considered the first digitally experienced generation to enterthe job market.
Did you know that by the year2025, 75 percent of the world’s workforce is expected to be made up ofmillennials? One of the major challenges for most organizations is adapting theworking environment, culture, and practices to fit millennials’ demands andexpectations. Unlike older generations, which have mostly been concerned with wages and/or benefits, Gen Y employees are after different goals in the workplace. Millennials are more interested in the purpose of the job, work-life balance, diversity, workplace culture, instant gratification, and thevalues of the organization.
So, what exactly does this youngergeneration want from the workplace, and how can employers ensure that theirworkplace is reasonably adjusted to accommodate the talents, skills, andexpertise of Gen Y?
AnInnovative and Collaborative Culture
For Gen Y professionals toperform their best at work, they need to feel a sense of belonging to theorganization and its culture. On a scale of 1 to 10, Gen Y employees rate thevalue of workplace culture at 8.5, according to a report by Thruue, Inc.
In a 2016 survey by Deloitte, whichlooked at the type of workplace that Gen Y professionals prefer, 76 percent of respondentssaid they are more content working in an inclusive and creative culture. Infact, according to a study carried out by Fidelity, Gen Y employees claimed they were willing to take a paycut of $7,600 if it meant they would move to an organization with a morecollaborative culture.
HowCan an Organization Improve Its Workplace Culture?
The HR department of anorganization is responsible for making the necessary changes to create acultural fit for the Gen Y professionals. Once an organization establishes anenvironment with an innovative and collaborative workplace culture, it standsto benefit from higher employee retention, increased employee performance, and improved job satisfaction.
The following are some waysthat leaders can improve the culture of their organization’s workplace.
- reatemeaningful communication values
- ductproper selection of employees by tailoring interview questions around the corevalues of the company
- tean engaging and effective orientation to improve onboarding and maintain newhires
- eremployees with support, power, motivation, rewards, and the right tools
- ecognition to employees to drive engagement, increase retainment, andreinforce a positive attitude
ABalance between Life and Work
Work-life balance isimportant in an organization because it shows that the employer cares about thephysical, mental, and emotional wellbeing of the employees. In this regard, GenY professionals expect a healthy integration of the work-life balance.
Although some startups mayrequire their employees to sacrifice a lot of their time for the success of thebusiness, Gen Y employees will still expect some support from the company. Certaininitiatives that companies can take to provide a healthy balance of life andwork for their Gen Y employees include:
- gflexibility at work by introducing remote work
- re focus on the productivity of the employees instead of the hours worked
- he workload to ensure it is distributed fairly
- loyees more time off
- free dinners for those who work late, and occasional free lunches to all
ermission to leave work early in case of emergencies or family commitments
Research from Docebo revealedthat 95 percent of Gen Y professionals prioritize a healthy work-life balancewhen looking for a job. Any company that seeks to employ smart, talented, andskilled Gen Y professionals should ensure that the organization does not crossany boundaries between the professional and personal time of its employees.
Millennials form a large partof the workforce, and their needs should be considered to promote betterperformance and growth in an organization. An inclusive and innovative culture at work will encourage Gen Y employees to givetheir best because they will feel included and appreciated. Employers shouldalso maintain a healthy work-life balance for their employees by promoting moreactivities away from the workplace.