What are the key workplace preferences of millennials? Millennials have very different expectations as to what they should be getting out of the workplace.
It can seem strange to older generations because that’s not what they’re used to. There was one way to do things and that worked before for them. However, such rigid structures aren’t going to work anymore for newer generations.
As a business owner, attracting younger employees to your company and keeping their loyalty can sometimes be difficult. Here are some key preferences for millennials you should have in mind to maintain their loyalty to the company.
#1]. The Ability to Prioritize Family
Nowadays, millennials are choosing later in life to have families. It means they have to adjust their priorities and schedules to make time for their new family members.
At the same time, their parents are entering the stage where they need more help with the smaller things. Millennials are looking for the means to easily juggle both their personal and professional lives.
This will enable them to be in both places at once and provide support to the family members that they need.
Having online scheduling software for employees, for example, can greatly help with this so that they can be available on their terms when a crisis arises.
#2]. Retirement Investment Options Matter to Them
Millennials had to experience the recession of 2007-2008 and saw what happened to those who didn’t have enough money saved up. Retiring comfortably is something they want for themselves and are going to shop around to find a workplace that provides them with the best retirement options.
This may seem like a lack of loyalty on their part, but they’re really just looking out for their future’s financial freedom. The fact is that they’re more sensitive to having enough money to retire on. This is why they need to ensure that they’re not wasting time with a company that won’t help them meet their goals.
#3]. Companies with Social Impact
Millennials are looking for companies that have company-sponsored volunteer programs because they want to be invested in companies that are interested in giving back to communities.
A large percentage of this demographic, have stated that they’re more willing to stick with a company that cares. About 82% will stick with a company that cares about the wellness of its consumers and employees, especially for those who are in minority groups.
With these vested interests, it’s vital for companies to refine their focus and become more family-friendly. Also, they need to look into having a bigger social impact in the world.
It’s good to be able to match employee values in order to foster loyalty in their employees. Nowadays, it gets easier for millennials to compare companies with each other.
This means millennials can easily compare the benefits the company is offering. So, ignoring these concerns will lead to companies getting left behind in the dust.
Adjusting the basic structure of a company in order to meet their needs may feel like an exercise in futility, but it’s necessary if you want to remain successful.
Needs and desires in the workplace are going to change from generation to generation, so it’s essential that the workplace evolves also in order to keep up.