Many researchers are currently looking into the qualities of Generation Z, as the oldest of that generation are now in college or have begun entering the workforce. But there is still much to be done with Millennials, who make up the biggest percentage of the workforce currently. So what are the trends?
First, Millennials are likely to be in the beginning stages of a real career. Even though the oldest millennials are in their mid-thirties by now, on average Millennials switch jobs approximately four times within the first decade out of college, meaning they may not yet be settled in a career path, even with you! What do they look for in a position? Benefits that include a work-life balance are at the top of the list. Unlike Gen X, Millennials seem to care more about a business’ back story and mission as well.
Motivating Millennials with benefits is a different experience than for previous generations. Millennials are more likely to prefer a good healthcare plan to equity in the company, and unlike previous stereotypes, Millennials tend to take criticism surprisingly well. Most surprisingly, this generation is more interested in sustainability than any generation prior. This means they have been empowered to bring that idea into the workforce, and they will expect to have a say in making a more sustainable workforce.
Fortunately, this is a characteristic than many businesses can profit by. Whether Millennials push recycling efforts in the workplace or tend toward more sustainable processes in manufacturing, businesses can only benefit by this motivation. In some cases, manufacturing leaders who are holding onto legacy equipment may be happily surprised at how an upgrade with an innovative design saves energy and increases productivity without costing a fortune. Additionally, some equipment upgrades mean a better tuned machine, so to speak, by reducing noise and vibrations that create a health hazard for workers over the span of many years.
Look into how your company can better utilize Millennials – and incorporate their ideas into your bottom line!