Take a look around your workforce. Does it feel like it’s getting younger or more digitised? Well, it should. The millennials are here. By some estimates, millennials now account for 50% of the global workforce and will represent 75% by 2025.
Why does this matter for the workplace, we hear you ask? Because as a manager, you’re now catering for an entirely new generation that has its own unique needs.
It’s crucial for managers to start thinking seriously about how they can adapt their workplaces to accommodate and engage millennial workers. Employee disengagement already has a £52 billion price tag, and the failure to meet the needs of this new generation could cost global businesses even more in the coming years.
What is a millennial?
Let’s start by clearing up who we’re talking about. A millenial is most broadly defined as a person who came of age during the early 2000s. Their life so far has been shaped by the technology boom, house prices, and the financial crisis of 2008 (among other things!).
Birth dates used by researchers vary, but the term “millenial” generally applies to someone born between the early 80s and the late 90s. The latest US Census defined the age range as someone born between 1981 and 1996, and this has been more commonly adopted worldwide.
Their priorities differ wildly from the previous generation, but are often misunderstood by employers. So, what does it take to engage millennials, boost their loyalty to your company and squeeze the most productivity out of them?
Millennials don’t just care about their job description or how much they’re being paid—although it’s worth noting that companies underestimate the importance of pay for job-seeking millennials—they care about what kind of company you are. They want to know what your values are, what your vision is, what kind of working environment and lifestyle they can expect and what opportunities for career progression exist.
Your workplace can’t simply be functional if you expect to attract and retain the best candidates. It has to be optimised.
Consider your internal communication channels. Is your team connected? Do you know what challenges they’re facing? When did you last check in with staff satisfaction levels?
Even the oldest millennials are digital natives, having owned the first mobile phones and grown up using the first personal computers, and every generation following them will be increasing digitally native. This means that making technology an integral part of your team’s daily operations isn’t just a good idea, it’s business-critical.
The market for employee engagement is saturated with countless solutions claiming to be the best. To determine which one is right for your business, you need to look at your operations and how they stand to evolve.
Most global businesses nowadays have dispersed workforces, including deskless and remote workers. Coincidentally, this is both the least engaged portion of the global workforce and likely to be the fastest-growing, as technology continues to improve and millennials embrace more flexible working conditions.
StaffConnect is the only employee engagement app designed to give in-office, deskless and remote workers a voice. This simple, user-friendly software is designed to bring your team together on a digital platform for a more connected company culture. Instant messaging is integrated with staff surveys, news bulletins, community pages and more to ensure internal communication is fair across your entire workforce and boost your bottom line.