Millennials are the generation born from 1982 to 2004 who are slowly coming up in the workforce. Older generations complain Millennials are a variation of “slow, lazy, and entitled.” It’s nothing new when it comes to the workforce cycle.
However, that doesn’t make the assertions that I am lazy, self-entitled, and accustomed to being rewarded (i.e. trophy kid) for being a “special snowflake” any less tiresome. I’m tired of seeing articles like this describing how to connect with the younger generation followed by comments deriding the writer.
After all, there is a large disconnect in the way that employees want to be treated and what they are experiencing from companies. Only 32% of employees are actively engaged, the majority are disengaged (52%) or actively disengaged (18%) at work according to the 2015 Gallup poll.
Millennials and older generations are not that different
According to a Gallup poll, each generation is fairly similar in what they want from employers. The most notable differences in opportunities to grow and learn and opportunities for advancement; millennials are more concerned about this when applying to jobs then the previous generations. However, this may be due to student debt rates and up and coming employees looking for ways to demonstrate their worth and grow with the company.
According to Deloitte, Millenials want work/life balance, opportunities to progress, and flexibility from their employer. Deloitte even offers suggestions for employers like mentorship to help keep younger employees engaged in the workforce.
Millennials make up the majority of the workforce
Millennials are already the majority of the workforce, according to WIRED. They will make up 75% of the workforce by 2030.
We may be more tech savvy, value open communication, and are looking for a strong sense of purpose. But our energy and the fact that we care about what a business stands for should help businesses appeal to younger generations, as well as remain innovative and competitive, while the spending power of Millennials increases.
Companies are capitalizing on Millennial spend
Millennials represent a $2.45 trillion spending power which means that responding to millennial requests shouldn’t be an opportunity to mock or belittle. As consumers, we will even spend more with a brand that we believe in and that insight has companies like Whole Foods moving to capitalize on this opportunity.
Especially after reading articles saying about how millennials should stop buying avocado toast if they want to save for buying a house (when in reality there is plenty of student debt on top of a recession when students were graduating from school), I think that organizations should take a moment to think about how they are appealing to the new spending powerhouse that makes up the majority of the workforce.
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