Is your workplace ready for the millennials?

A new generation of employees will soon be taking over- and reshaping the world of work.

In fact, according PwC´s recent global Millennials survey, the millennial generation – the name given to those born between 1980 and 2000 – will soon account for more than 50% of the global workforce by 2020.

Therefore, it’s critical for your business that your workplace is well equipped for this new generation of employees.

Who are the millennials?

Unlike the baby boomers and generation Xers who went before them, the millennial generation have a different world view – which includes different expectations and attitudes towards work.

According to the recent PwC survey, only 29% of millennials expect to work regular office hours. This new generation are also increasingly tech-hungry, with as many as 75% saying that access to technology in the workplace would make them more effective at work.

The millennial employee will also seek out those employers who can offer flexible working hours and a fair balance between their work and home life. And if the employer fails to deliver on this? They will simply find an employer who can. Up to 38% of millennials already in work said they were actively looking for a different role, and 43% said that they would be open to other offers.

What can you do to attract millennials to your organization?

Millennials value career progression, flexible working, effective mentorship and technology in the workplace.

Manpower’s recent Millennial Career Vision Survey identifies key areas which you can address in order to get your business ready for the next generation of millennial employees.

  • Show them internal career opportunities and let them be involved in different projects and challenging work. This will create variety in their daily work and aid career progression.
  • Provide a varied compensation package which not only includes base salary – but also benefits, flexible working hours and opportunities for more vacation.
  • Provide more regular performance reviews throughout the year – and talk about career opportunities. Millennials can be extremely loyal to an employer who invests in their future.

Benify can help you to get your business ready for a future of millennials.  We’ll give you the digital tools so that you can provide compensation packages which are unique, and working models which are flexible. You’ll be able to tailor your offering per each employee – meaning that you can continue to cater to all employee types, not just those who make up the majority. Book your personal demo today to find out more.

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