Each generation has made an impact on the growing workforce. Perhaps with hesitation at first, but now in full stride, Millennials make up the leading generation of workplace professionals. In fact, by 2025 they’re projected to make up a whopping 75% of the global workforce.
So what’s the word for this generation in the workplace?
Author Daniel Goleman states in his contribution piece to Korn Ferry that this generational workforce is putting purpose before profit when it comes to career ambitions.
“… study after study shows that millennials are the first generation to demand that their 40-hour a week jobs be more than just a place to work.”
Millennials are at the pulse of societal influence with their drive, sheer size in number, and interest in merging professional and personal passions. Companies with philanthropic cultures and corporate volunteerism programs can use this to their advantage when hiring this dynamic work group.
Kate Peters with Forbes offers insight into a shifting workplace language brought on by this generation’s vision of career practices.
“Their ideal workplace is mission-driven and collaborative, one where people feel inspired and motivated, where mentorship is encouraged and where coworkers are more than just blank faces in gray cubicles.”
Kate’s piece argues that the day-in and day-out seemingly robotic “grind” professionals perform in the typical work week isn’t a status quo to be followed but challenged. What makes a company’s environment appealing is collective engagement, where agency, growth, and values transcend the average 9 to 5 job. Business leaders and teams with a supportive approach to professional development have a better chance of reigning in this versatile workforce.
Senior Finance Writer on the Business News Daily staff, Donna Fuscaldo, argues that generational mindset should take root in organizational leadership.
“They have turned the norms on their head, bringing technology, flexibility and transparency to companies across the country.”
Millennials are hedging their bets on a modern workforce. They are interested in joining (and staying with) companies whose goals align with their own, with the capacity to continue improving for newer generations as times change.
The good thing is that online tools and resources are progressing for more efficient remote work. With this in mind, business owners and team leads can fulfill the needs of professionals looking forward to online learning and training, telecommuting opportunities, and access to digital innovations that improve communications and collaboration.
Indeed reiterates a lot of what Goleman, Peters, and Fuscaldo shared in their pieces, but one thing their post highlights that the others don’t is a brief focus on student load assistance.
“Given the majority of millennials in the workplace took out student loans, and the average college graduate leaves school with $30,000 in debt, it’s no surprise millennials prefer employers with tuition reimbursement programs.”
Suppose their previous education serves value in their role. In that case, business leaders may consider contributing to relieving the burden of debt Millennials have taken on to get to this point. If student loan repayment benefits are something other than what companies are willing to initiate, learning or education stipends are worth evaluating to satisfy this generation’s desire to continue learning without adding to their debt.
Encouraging the development of skill sets and providing a pathway to obtaining financially rewarding certification will help these professionals make a more significant impact in their careers. For companies, this will lead to Millennials feeling valued and will reflect in their loyalty and commitment to their organizations.
As a group of professionals in the workforce, Millennials are powerful, purpose-driven, and changing the labor landscape. This generation has a lot of potential for impacting organizational innovation because their vision for the future of work leans on adaptability and forward-thinking that expands beyond personal gain and profit.
Overall, Millennials are hard-working and carry with them an ambition for continuous growth. They’ll thrive in any industry and contribute to a ripple effect of positive change at every turn.
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