The Changing Workforce

Life is moving at such a fast pace and business is rapidly changing that it is difficult to keep up. The whole dynamic of the workforce is shifting and organisations need to adjust if they are to continually move forward with the times. This is why I believe organisations need to look at how to manage their workforce differently.

Millennials – born 1981 – 1997 (between the ages of 18 – 34 in 2015) are projected to outnumber the baby Boomers. It is predicted that by 2020, 40% of the total working population will consist of Millennials. Therefore, organisations need to understand the needs of Millennials, and learn how to recruit, grow and retain them. If they don't, they will lose talented employees who have the ability to be the most productive generation.

Understanding the generational differences is important to be able to manage the generation mix.

Generations

Baby Boomers – 1946-1964       

Generation X – 1965-1979

Generation Y: “Net” Generation – 1980-1989        

“i” Gen – 1990-1999

Generation Z (Gen C) – 2000+ (They are creative, collaborative, communicative. They are more entrepreneurial and less motivated by money. Despite growing up with technology, they and more focused on face-to-face communication. They appear more realistic than optimistic having grown up during the recession. They will come to the workplace better prepared and equipped to succeed). (Dr Larry Rosen & cirrus-connect.com/blog/what-do-millennials-want-from-work-7528)

Millennials

• They can multi-task with 7 different things simultaneously and can be easily distracted.
• They tackle work like research on the internet.
• They are constantly wanting to learn and grow.
• They learned to figure out things themselves, with the internet, a network of friends and text messaging.
• Technology is no longer a tool but rather something that is part of them – just like breathing.
• They are transparent, open and share personal information themselves on the internet to define who they are.
• They care about what others think.
• They are relationship-oriented and social.
• They want to prove themselves and show their skills and talents.
• They believe in honesty and mutual respect.

 What do they want?

Millennials don’t just want a job, but rather want to do something they love.

They want to identify with an organisation, contribute and achieve something that defines them as unique and special.

They are constantly wanting to learn and grow. The corporate world is no longer a ladder, but rather as Deloitte describes it, it is a “corporate lattice”. They like to move around, experience new things and have opportunities to work on a range of exciting projects. They want to learn more, develop skills and be recognised for their achievements.

They are great multi-taskers with 10 times the speed and technical knowledge of Gen X. They tackle work like research on the internet. They find out - what they need to do, figuring out the best and fastest way to complete the task, and then they are done.

I believe that their constant desire to learn different things, may also have something to do with finding their ultimate passion. We all have a number of careers before we find our true passion. According to the Bureau of Labor in the USA’s recent Statistics, the average worker currently holds ten different jobs before the age of forty.

Help them grow

With the internet, social media and technology at their fingertips, it is no wonder that they are looking to get ahead quickly however, they understand that they do not know everything.

Let them learn and experience as much as they possibly can, train them and engage with them. Provide them with various experiences by exposing them to different parts of the business. Create an environment where they can thrive.

 

Connecting and mentoring - Mutually beneficial

While Millennials want to learn quickly, practice their skills and become good at what they do; they also need to be guided by older generations on how to stay on task and remain focused.

They will require several mentors to help them develop their skills as they move across different sections of an organisation.

• They are able to reverse mentor - mentoring the older generation by helping them with emerging technologies and by sharing new information.
• Though they are independent, they like working in teams. Team work is important, in the growth of organisations and individuals.
• They want honesty, loyalty and mutual respect and respect leaders with these same qualities.
• They see honesty as the most important quality of being a good leader.
• They believe that leaders with solid vision and good communication skills, connect effectively to diverse groups of employees.

Flexibility

Relationships, their friends and lifestyle are extremely important to them. They want to integrate work and their personal lives, where a flexible work environment may be something to consider.

To achieve this flexibility, deadlines need to be set with clear defined instructions and specific targets. They must be held accountable for mistakes and be praised for successes.

They want to advance faster

Their sense of entitlement doesn’t stop them believing that reward should be based on results and not on seniority or length of time with an organisation. They want to prove themselves and demonstrate their capabilities. They believe recognition should be based solely on achievements.

Meaning

They want to know that what they are doing has meaning. Teach them about the company, what the organisation wants to achieve and how their role benefits the company.

Millennials want to work for organisations that are meaningful, have purpose and take part in social responsibility. 70% say that giving back to society is one of their highest priorities. (www.businessknowhow.com/manage/millenials.htm)

If organisations want to hold onto “Millennials”, they need to consider their goals and constantly reassess their individual needs.

Organisations will need to foster an environment of collaboration, share knowledge and encourage people to direct themselves. They need to offer opportunities that encourage innovation, where passion creates excitement and drives growth for organisations.

Millennials thrive on innovation and change and working for dynamic organisations.

Retain Staff and reduce turnover

Communication is extremely important in understanding what people want. It is important for organisations to listen to their staff and help them achieve their goals and find satisfaction in their roles. Various methods of communication need to be considered for the different generations.

Everyone is different with different goals, experiences, skills, talents and perspectives and need to be managed and led differently.

I believe it is important not to stereotype, but to ask questions, find out what matters to the individual, what they hope to achieve and what they would like to experience. I also believe that it is important to re-evaluate employee needs, as this is just one way of retaining staff and crucial intellectual property.

Adapting to the changing needs, interests and goals of each person is crucial.

Group studies of millennials have found that:

• 64% of them say it’s a priority for them to make the world a better place.
• 72% would like to be their own boss. But if they do have to work for a boss, 79% of them would want that boss to serve more as a coach or mentor.
• 88% prefer a collaborative work-culture rather than a competitive one.
• 74% want flexible work schedules.
• And 88% want “work-life integration,” which isn't the same as work-life balance, since work and life now blend together inextricably. (Forbes /2014/01/13/what-millennials-want-in-the-workplace-and-why-you-should-start-giving-it-to-them/)

Organisations need to continue to evolve, and Millennials will lead organisations in this way, as they would have continuously evolved through their career development.

 Millennials otherwise known as Generation Y may just be our new leaders.

Please share your thoughts and ideas about change in the workplace?