More than one-in-three American employees today are Millennials, making them the dominant shareholder of the workforce, above both Gen X and Baby Boomers. With Millennials comprising most of the labor force, businesses are constantly looking for new ways to understand, attract, and retain these rising professionals.
Millennials prioritize five characteristics within the workplace: flexibility, technology, collaboration, feedback, and a well-designed layout. Any business that can adapt and accommodate these preferences is going to have larger access to a skilled set of Millennials, who will produce high-quality work. Implementing Millennial preferences will not only benefit the satisfaction of the incoming workforce but the long-term success of the business.
With that in mind, let’s examine the five ways to embrace the changes in the workforce:
- Flexibility – Millennials are the first generation to prioritize a true work-life balance. More than 74% of young professionals value open work schedules, and 69% believe office attendance is unnecessary on a regular basis. This data supports the desire to create customized schedules, including when and where to work. With this in mind, it’s critical to make flexible scheduling a priority to maintain Millennial satisfaction.
- Technology – Technology has become completely unified in the everyday life of millennials. They no longer ask for sufficient technology at their jobs; they expect it. Often, this expectancy has been painted as entitlement, but what millennial employees really want are the tools they need to do to embrace their job. To support this tech-dependent generation, look for cutting-edge tools to meet your employees’ needs.
- Collaboration – Technology and collaboration work hand in hand. Integrating technology in the workplace has given rise to virtual teams and freelance partners, promoting flexibility. Tabletop microphones and large monitors support content sharing, video conferencing, and cloud-based collaboration. Encouraging Millennials to share and work together to arrive at new ideas translates to a more innovative, profitable business.
- Ongoing Feedback – Nearly 80% of millennials prefer in-the-moment recognition over formal, annual reviews. Young professionals want consistent performance input on what they’re doing well and what they’re doing wrong, along with solutions for improvement. Management teams should deliver continuous, constructive feedback to provide employees with support.
- Activity-Based Design – Offering multiple spaces for completing different types of work is a design trend that is here to stay. Rather than having employees “own” a desk or workstation, teams are given spaces designed around different tasks like individual work, training, collaborating, or lounging. Millennials are more likely to switch up their environment throughout the day, so offering an adaptable floor plan may be the key to retaining top talent.
Flexibility, technology, collaboration, feedback, and workspace layout are five ways to accommodate the rising Millennial generation. Keep these concepts in mind as you navigate workplace strategies to maximize employee satisfaction.
For more information, check out our article on Employee Retention.