Via Stuff : Millennials set to take over the workforce by 2020
It’s the generation the other generations like to rag on.
But in just a few years, Millennials – those born between 1982 and 2004 – will be the dominant force in workplaces around New Zealand.
Millennials are often accused of speaking another language, always on their cellphone, and invested in social media, but they are also driven, fast-paced workers who can multi-task effectively.
Price Waterhouse Coopers commissioned a survey looking at this group across 75 countries which found career progression was a top priority for millennials, and they preferred to communicate through technology, rather than face-to-face or even over the telephone.
It also said millennials development and work/life balance was more important than financial reward, and there was a strong appetite for travelling and working overseas.
But loyalty to their employer was not a priority, with 54 per cent saying they would expect to have two to five employers over their work life. They were comfortable working with older generations, but thought senior management didn’t relate to younger workers and their personal drive was intimidating to other generations.
Businesses are having to keep up and adapt with the influx of millennials into the corporate work force.
New Zealand global software company Xero employs a lot of millennials.
It has bean bags and gaming consoles, and modern training and development programmes.
Xero graduate team lead Suraksha Setty, 25, looks after the new graduates and interns, including interviews, inductions, training, performance reviews and fortnightly catch-ups to make sure they’re on the right track and settling in.
Apart from technical training, Xero also has “soft skills” training, which focuses on public speaking, meet ups outside of work, interaction with other companies and learning about diversity in the work place.
It is about creating balance, Setty said.
“While we treat everyone the same, the majority are young people [at the Auckland office] which is really awesome. There is a lot of support for the younger talent.
“We are such a modern tech company, so the forward-thinking nature that young people bring is fitting for the environment we’re in. We’re encouraged to speak up and share our opinions and ideas. Feeling valued is really novel in the workforce.”
She said new grads and interns are paired with a senior person in their team who helps show them the ropes. Team members come from a range of backgrounds in gender, age, cultures and ethnicities.
Xero communications advisor Isabella Couwenberg has tried hard not to label herself a millennial.
“But of course, given my birthdate, I am a millennial,” the 23 year old said. “I do think that millennials get a bad rap, which is a very “millennial” thing of me to say.”
The term is associated with negative connotations and stereotypes, she said. Generalisations were “a bit unfair”.
One stereotype is they expect a trophy for showing up to work and want special privileges, she said.
“We’re very technology abled, as well as willing to embrace new ideas. We’re able to work well under pressure and juggle a range of tasks as well as move at pace. We operate in a quick thinking environment with a lot of hustle, which I enjoy.
“I thrive under pressure so it’s great. I’m really lucky in that I get to work with a lot of senior people who can learn so much from and I’m good at putting my hand up, which is perhaps something that the more reserved older generations didn’t do so much.”
Auckland University of Technology, University Director of Diversity, Professor Edwina Pio said it’s a two-way street, and organisations and millennials must work together for the success of the company.
“Employers have to understand it is a vastly changing landscape. You must take risks on young people, but you can’t do the same training and development you’ve done in the past.
“Millennials expect a variety of different kinds of training. You can’t use old models – it’s not going to work.They are very driven and we shouldn’t extinguish their flame.”
Millennials currently accounted for 34 per cent of New Zealand’s labour force and by 2020 would be the majority.
“They are our future leaders, our future CEOs, our business leaders who walk the corridors of power.”
Via Forbes : Millennials Are Ready To Be Leaders: Here’s How They’re Doing It
Millennials have been changing the workplace ever since they started arriving on the scene nearly a decade ago. Now, Millennials are growing older and are starting to step into leadership and management positions. There are a few different definitions of “millennial,” but Pew Research sets the earliest year for the Millennial generation at 1981, which means the oldest Millennials are now 36.
According to research from the Harvard Business Review, the average age of first-time managers is 30, and the average age of people in leadership training is closer to 42. This poses an interesting problem for most managers, who don’t receive training until they’ve been on the job for 10 years (if they receive training at all), but it also shows that we’re falling squarely into an age with Millennials taking the helm of their own teams.
So how are Millennials succeeding in these roles, and how are they changing the workplace?
Why Millennials Are Ready
Let’s look at some of the main reasons why Millennials are prepared to take on leadership roles:
- Age and experience. As noted, Millennials are beginning to age, wandering into their 30s. With a decade or more of experience under their belts, they’re ready for bigger roles.
- Numbers. Millennials have officially become the largest generation as of last year, and represent the largest percentage of the workforce. Because there’s a growing power vacuum as managers from older generations leave or climb even higher, Millennials are the most plentiful candidates to fill the void.
- Autonomy and confidence. Millennials crave autonomy, and have confidence in their skills; those characteristics drive them to take charge of more people and more responsibilities. According to Maggie Overfelt, “Because workplace autonomy is a big job requirement for Millennial workers, their relationship to their supervisors — what they want from their boss and how often — can be a little complex.”
How Millennials Are Changing Things
So how are Millennials leading in ways different from their older generational counterparts?
- More and better feedback. A widely cited Gallup poll from 2016 illustrated Millennials’ complex relationships with feedback. Only 19% of surveyed Millennials said they received routine feedback, but nearly all Millennials wanted feedback regularly; they also refused to ask for it. This urge for feedback and understanding of feedback’s importance will likely follow them into leadership positions, except as leaders, they’ll have the power to institute a powerful system.
- More fluid adoption of new technology. Millennials, who tend to be more optimistic and more adaptable when it comes to new technologies, will likely institute more advanced platforms at a faster rate than their predecessors. According to Karoline Holicky of Meisterplan, “Millennials trust the power of technology, and know that adopting better systems is the most efficient way to make better decisions.” Overarching platforms, like project portfolio management software, may become more common as Millennial leaders rely on its abilities to make better decisions and organize resources.
- More flexibility and fewer rules. According to a Bentley University study, 77% of Millennials agreed that more flexible working hours would make their generation more productive. Carrying this philosophy into a position of leadership, Millennial leaders will likely instate more flexibility, including customizable hours, more remote work, and even more relaxed rules in the office.
- Higher demands for brand values and company culture. On the other hand, Millennial leaders could be more demanding for workers to adhere to their brand’s company culture and core values. Values have always been an important cultural institution for Millennials, when choosing an employer or a supplier, and now they get to create and enforce those values within the context of their own teams.
- Preparation for generation Z. Millennials are aging, and will likely be looking over their shoulder as the next generation—usually referred to as “generation Z” or the “post-Millennial” generation—as they start rising through the ranks themselves. Millennial values are starting to fade, and workplaces won’t remain under their firm vision or leadership for long.
Millennials may still seem like the young, new generation, but they’re already starting to emerge as leaders in the American workforce. Soon, generation Z will start graduating from college and flooding the marketplace, and Millennials will be able to join their generation X and baby boomer counterparts to complain about a new host of youthful characteristics. Until then, Millennials will have a brief period of enjoying the energy of youth alongside the experience necessary to drive true changes in the workplace.
Via Charlotte Business Journal : What millennials look for in an employer, and why you should care
Much has been written about the rise of millennials (born 1981-1997) in the workforce, and you’ve likely noticed their numbers increasing at your office. In fact, according to Pew Research, as of 2015 this group surpassed Gen-Xers to become the largest generation group in the working population. Roughly 1 in 3 employees today is a millennial and by 2025 this group will compose 75 percent of all workers.
With those statistics, it’s clear that employers need to understand this group better, and Deloitte’s Millennial Survey is a great place to start. The study, incorporating over 8,000 millennial workers in 30 countries, yielded some great items to consider from an employer’s perspective. Here are our top three.
Full time but flexible
All work and no play is not the right way for employers in terms of appealing to millennials. Perhaps the biggest takeaway from the study is that this generation values flexibility above all else. Employers who find ways to increase flexibility are rewarded with improved organizational performance and employee retention. Two-thirds of the respondents stated that their employers are presenting flexibility in one of the following forms:
- Flex time: Employee has some degree of choice in when they work.
- Flex recruitment: Employer presents diverse employment terms/arrangements.
- Flex role: Employee has some control over their job composition.
- Flex location: Employer offers work from office, home or other location arrangements.
A recent Inc. piece points out some additional items to consider in terms of workplace flexibility. Although a common fear is loss of productivity, 22 percent of millennials say they’d work more hours and 82 percent say they’d be more loyal if they were offered flexible work options. As for the retention alluded to above, 32 percent of millennial workers say they’ve left a job because the employer wasn’t flexible – that’s almost a third – and certainly a significant number when you consider the high cost of employee turnover.
Making a difference
Of the millennials surveyed, 77 percent stated that they are active in causes and/or charities. Among that group 30 percent are volunteers/organizers. Another 30 percent join or make donations to charitable groups and 23 percent participate in raising funds or collecting items.
What does this mean for employers? Simple. If you want your millennial employees to be engaged, you need to consider providing opportunities for them to make a difference. Millennials are passionate about changing the world around them and there’s no denying that this digitally savvy, social and connected generation has actually changed the face of charitable giving – remember the Ice Bucket Challenge?
It’s also worth noting that millennials don’t just want to give personally, they want their employers to as well. A Fortune study found that nearly two-thirds of millennials are more likely to want to work for a company that gives to charity. Similarly, they’re also more likely to buy the goods or services of a company who engages in social causes versus one that doesn’t.
Bottom line: this generation wants to make a difference. By sharing in their passion, and letting them lead the charge, employers are more likely to be viewed favorably by their millennial staff and increase the likelihood that they’ll stick around.
Straight talking, diverse and inclusive
Finally, millennials want their workplace to be one that is hallmarked with open, honest and easy to understand communication. They also want it to be a place where new and/or different ideas are encouraged and respected (coincidentally, the Deloitte survey found that millennials seek the same attributes in their political leaders). In terms of work environment, millennials are broadening the description of workplace diversity.
According to Forbes, where previous generations focused on religion or demographics to create a diverse workplace, millennials consider individual identities, unique experiences and viewpoints to define diversity and seek to do more than just fill workplace quotas. The generation is similarly reshaping views on inclusion. Where prior generations place emphasis on fairness, equity, tolerance and acceptance, millennials are moving towards a deeper connection. They value the exchange of ideas via cultural connections, are attracted to environments where true teamwork is embraced and are driven by their shared successes and overall business impact.
It’s clear that millennials are an integral part of today’s workforce and they’re changing the status quo. Employers who seek to understand the unique attributes of this generation and provide opportunities to nourish their passions, enrich their workplace experiences and provide for growth and development, could be well on their way to future – and sustained – success.
Via Forbes : 11 Ways Recruiters Can Attract Millennial And Gen Z Job Candidates
With millennials and Gen Z making up almost half of the population, according to a report by Nielsen, targeting this group for your company’s open positions is more of a requirement than ever before. This large and powerful group has a different outlook on the job market than their predecessors and requires a little more effort to gain their attention.
Recruiting this population as potential job candidates takes a different approach that many recruiters may not have considered until now. This demographic is interested in benefits, flexibility, and time off. They are social media savvy and don’t communicate in traditional methods that may have gotten you by in the past.
Below, 11 members of Forbes Human Resources Council share the one change they believe recruiters should make in order to appeal to and interact with millennial and Gen Z job candidates. Here is what they had to say:
1. Make Them See Who They Can Be
Millennials are about experience, growth and self-discovery. Benefits and perks are all good and appreciated, but if a company cannot help them learn something about themselves, create a community that supports them, validate their ability to make an impact or align with their values, the chances of getting them to stay are slim. This generation was raised to go with what feels right to them. – Angela Nguyen, Ad Exchange Group
2. Drop The Gimmicks
Remember, we (HR millennial here!) are dynamic, with interests beyond social media and fun at work. For example, in healthcare recruiting, I can’t compete with some perks from other industries. So, I stress the everyday-is-community-service-day feel to appeal to the corporate volunteerism spirit of millennials and Gen Z. Do your research. Be honest about what your company has to offer. Repeat. – Stephanie Shuler, Charlotte Eye Ear Nose & Throat Associates, P.A. (CEENTA)
3. Follow Candidates, Limit Emails
There is too much emphasis today on sending emails to prospective candidates and awaiting responses. The better method is to encourage people to follow the company’s roles at the skill level, comparing their skills to company demand, in real time. This should be all roles, not just those open for recruiting, so people can build their career with insight into the changing employment landscape. – Rick Devine, TalentSky, Inc
4. Show Genuine Interest
Millennial and Gen Z candidates want to work for an employer that cares about them and their well-being. Recruiters should explain the company’s employee value proposition and culture. Recruiters should strive to develop a good long-term relationship with candidates. Recruiters should also address candidates’ concerns and constantly follow up with these candidates, even when they become employees. – Ochuko Dasimaka, Career Heights Consulting, Inc.
5. Respect And Welcome The Generational Difference
Understand that the concept of employee value proposition goes beyond traditional perks and benefits for them. Use a lot of social media to attract them, emphasize both the challenging and fun parts of working at your organization, and acknowledge the generational difference with respect and openness. Be friendly rather than interrogative while conversing with them and show genuine interest in what they have to offer. – Ekta Vyas, Ph.D, Stanford Children’s Health
6. Share The Non-Tangibles
Millennials and Gen Z candidates value the non-tangibles as much, if not more than the tangibles, e.g. compensation. Expressing the employer’s flexible work policy, maintaining a strong focus on an inclusive culture, offering opportunities for growth, etc. will attract top talent. – Brooke Peterson, Causely
7. Get Social
Today, social media platforms dominate the lives of millennials and Gen Z potential candidates. Recruiters need to get social by staying current with the trends, and using the platforms to transition traditional recruitment methods into interactive tools. The focus should be on lifestyle, relationships and opportunity for an interesting and exciting career. – LeRae Jacob, Creative Door
8. Be Efficient, Communicate Constantly
Millennials and Gen Z thrive in technological and innovative environments. These candidates are high in demand, therefore it is important the interview process is efficient and recruiters have consistent communication with them. These individuals want to jump right into working, therefore onboarding should be short and delivered electronically. – Tiffany Servatius, Scott’s Marketplace
9. Talk Beyond The Tasks
Today’s employees want to do much more than the daily job requirements. They are interested in the company culture, and how they can be part of the larger work environment. They want to understand how to share ideas, network with colleagues, learn new skills and be part of the greater good. To keep them interested, talk about how they will be challenged by the work and hone new skills. – Meg Battle, Rabin Martin
10. Make It Fun
Candidates today want more than a stale job description. They want to feel a connection with the company, values and mission. We have found success by creating short video job postings showing where they will be working and having the hiring manager talk about the role. This engages candidates and gives them a real look into your culture and the job. – Lisa Whealon, GL group, Inc.
11. Provide Immediate Gratification
We realize that millennials and Gen Z desire immediate gratification. In addition, the top-notch candidates have options, so don’t make them wait. Optimize their experience with a career site that is mobile-friendly, and be sure to provide timely responses and feedback. Above all, make the candidate experience for those who aren’t hired just as good, because they may be your future hires. – John Feldmann, Insperity
Via Forbes : Create This Sort of Work Environment If You Want To Retain Millennials
Gone are the days when employees must conform to a traditional 9-to-5 workday, losing precious hours of sunshine while being confined to a windowless cubicle. At least millennials think so.
We were raised in a different era than our predecessors, so naturally we have a different approach to getting things done. This doesn’t make us entitled or lazy. (Reminder, millennial over here!) Quite the opposite.
According to a study by Bentley University, 77% of millennials say that flexible work hours would make the workplace more productive for people their age. And flexible hours are just the beginning. A traditional, outdated concept of when and where to work isn’t going to cut it for my generation.
A flexible work environment can take on many forms, but the main idea is to shift away from set hours and not dictate when employees need to be in the office. There might not even be an office.
While this transition might be a hard pill for some execs to swallow, consider this…
Studies have shown that both employees and employers benefit from a flexible work environment. Millennials are determined to reshape the world of work because we know what environment we can not only perform in, but also thrive. Here’s why…
Millennials Value Work-Life Balance
Yes, work-life balance is still a thing, and it isn’t going away anytime soon. Millennials value the genuine blending of their work and personal lives, so giving them the opportunity to control when they work and when they play (and how they fit together), makes for more fulfillment. According to Leslie Doolittle at Bentley University, “family, friends and making a difference in their community are much more central to millennials than previous generations.” We believe in the importance of community involvement. How are we going to contribute to society if we’re stuck in an office all day?
Millennials Are Experts In Digital Communication
Millennials are hyper-connected globally, always on. Early adopters, we grew up glued to tablets and smartphones, so digital communication comes to us as second nature. We’ve brought our love for technology into the workplace and know how to stay connected to our peers and run kickass meetings, even from afar. Why not let us cultivate a remote workforce and put these skills into practice? Research by Stanford professor Nicholas Bloom showed that working remotely increases productivity and the total number of hours worked. Let’s put that research to good use.
Millennials Crave Loyalty And Stability
This might sound counterintuitive since we’ve been accused of job-hopping and leaving for the next shiny opportunity, but times are changing. According to a 2017 Deloitte millennial survey, millennials in the US are now more likely to say they will stay beyond five years than to leave within two. Part of this is due to an increase in flexibility on the job. McKinsey & Company found that millennials are more likely to accept a job offer from a company that offers flexible work schedules. Flexible work arrangements can also improve retention efforts. In short, we’re looking for freelance flexibility with full-time stability. If we’re in control of how and when we get things done (and are getting fair pay and upward mobility, of course) why jump ship?
Like any shift in corporate culture, transitioning to this type of environment won’t be without its challenges. Communication and good collaboration tools are key to a seamless experience. Luckily, millennials are experts at communicating on the job, especially with mobile friendly tools at their fingertips. A 24/7 kind of culture, some millennials may never be able to “turn off” from work and find themselves logging on over the weekend. But I bet if they’re sitting at a cafe with nitrogen cold brew in hand, there will be little complaining. That is what we signed up for after all.
I wouldn’t be hammering this in if it wasn’t for good reason. Companies are already implementing a variety of flexible practices; we just need to get more on board. Dell aims to have 50% of its global workforce on flexible schedules by 2020, and since millennials will make up 75% of the workforce by 2025, that’s a step in the right direction. Any wrinkles will undoubtedly smooth out over time as more and more millennials enter the workforce.
Collectively, let’s just say yes to less restrictions surrounding when and where work gets done. There’s no need to fear flextime and working remotely if it means increased satisfaction and productivity all around. Besides, adopting a flexible work environment will not only benefit millennials, but future generations to come.
The end of the cubicle era is fastly approaching.
Employers, take note… The future is now.