Millennials make up the largest living generation by population size in America – reaching over 75 million strong last year, according to Pew Research. This young generation has rapidly gained majority share of the workforce and brings an entirely new set of needs to the office. But not every organization is equipped to attract and retain millennial employees. How can you make sure your company is ready?
A New Generation
Pew Research defines a millennial as someone born between 1981 and 1997. Adam Smiley Poswolsky, millennial workplace expert, recognizes that this group is considered the “me me me” generation, commonly perceived as needy and unmotivated. Poswolsky counters they aren’t as self-centered or lazy as they seem; their needs are merely different than their predecessors’. He believes millennials are the purpose-driven generation.
Based on findings from Deloitte’s 2015 millennial survey, Poswolsky defines the purpose-driven generation as young professionals who want their workplace to align with their values – not just profits. Out of the 7,500 millennial employees who took part in this survey, 75% noted that their employers were not providing a purpose-driven workplace.
How can you keep your purpose-driven millennial employees motivated? Provide a great employee experience. Jacob Morgan, author of The Employee Experience Advantage, defines the employee experience as the sum of all interactions, good and bad, that an employee has during his or her term of employment. Morgan believes three elements combine to form this experience – technology, workspace and culture – and optimizing them not only creates an ideal employee experience, but also caters to all generations within your company.
Here is a look at how each of those elements they can help you meet the needs of your millennial employees:
Culture
Company culture is defined as the beliefs and behaviors that determine how employees and management interact and handle outside business. According to studies done by Morgan, 25% of employees will leave a job for a better culture, despite premium pay and benefits. A healthy workplace culture can help your employees buy into your purpose-driven workplace.
Workspace
Your employees probably spend more waking hours on the job than they do in their own home. The workspace – the physical environment surrounding your employees – should be welcoming, not distracting or inefficient. To that end, 78% of millennials say the workplace environment affects their decision to stay at a job, and 62% say their workspaces are distracting. Update your environment or risk your people moving out permanently.
Technology
Technology isn’t just fast internet and printers. Good tech contributes heavily to employee engagement – 48% of employees say new technology is a motivator and 85% feel that when their company tech is ahead of the curve, they love their job. By updating your technology and moving away from manual processes, your employees will have no desire to upgrade to a new environment somewhere else.
By investing in your corporate culture, workplace and technology, you can provide a great employee experience for your workforce. Millennials, who are on track to take over the national workforce by 2020, according to an article published in the Huffington Post, are in search of more than a paycheck; they’re looking for a workplace that motivates them, fulfills their needs and provides them with a sense of purpose.
Want to know more about how you can increase employee engagement (especially with your millennial workforce)? Learn how to build a purpose-driven company culture that empowers all employees in this on-demand webinar with Adam Smiley Poswolsky.
