Anyone born between 1980 and the late 1990’s is known as a Millennial (or Gen Y). Whilst you may imagine them to be young, could now be anywhere between 18 and 35 years of age.
In fact by the year 2020, half of our workforce will be millennials and by 2025 over 70%!.
Well being one myself makes it easier. Firstly; we have grown up with technology being an integral part of our lives. How we socialise, communicate and even learn. This means we have a vast array of information at our disposal which naturally results in more diverse opinions.
Not only are millennials more than willing to use technology at home and in the workplace, they almost demand it. They expect that the best tools for them (to work the most effectively) are displayed on the face of a UI.
Access to technology has paved the way for millennials to think and act differently from the generations before them. This has impacted attitudes to work and ways of working. Thus having a greater impact on future generations and so on…
The view that millennials are just “Generation X+ 1’s” (pragmatic individualists who are willing to take risks in an effort to survive) is not necessarily true. Many view millennials as the same but more extreme, which is why they are sometimes called “Generation Y”. This entirely misses the true nature of generational cycles. X’ers can be individualistic, cynical and lack trust in institutions whereas millennials are collectivistic, optimistic, hopeful and are willing to work with institutions.
showed that 96% of millennials think the reputation of their company is important. 98% think a companies vision and values are important. 100% said the company they work for must stand for something and 89% think their potential job title is important. Is this a sign of status and vanity, or do they just care more?
Businesses must adapt to change if they want to hire and retain a millennial.
Millennial workers appreciate a healthy work-life balance, more often over financial or professional advancements and they are not convinced that devoting excess time to work is worth the sacrifice, which means that millennials would favour flexible hours or remote working. So in summary, what can we do to attract and keep this talent?
We can understand the millennial mindset and their new ways of working through three core values: Socially Conscious, Tech Driven and Collaborative.
These core values drive behaviours that affect every employee in the workplace. As well as the career decisions they make as a result and we’re only going to be hiring more and more. Plus the millennial mind-set is being adopted by younger and younger age groups.
Being only 21 and working in the recruitment industry I definitely get to see both sides of the story, but being a millennial myself I may be a little biased!
All thoughts and opinions are welcome! you can comment below, email me at email@example.com or call me on +44 (0) 0118 988 1100.