A new cultural framework

 

BUSINESSES NEED TO CHANGE HOW THEY MANAGE
AND ENGAGE A MILLENNIAL WORKFORCE

In order to retain and attract a Millennial workforce it does not mean you need to turn your offices into quasi theme parks and adopt a dress code of board shorts and flip flops. Instead businesses need to understand the Millennial Mindset that sits at the heart of modern employees coupled with understanding the impact technology is having on how we all work, in order to design a workplace and adopt a culture that is fit for purpose. This means there needs to be fundamental changes in standard working practices such as when, where and how employees work, the amount and level of feedback that is given, career progression, having a clear business purpose with a vision and values that employees can get behind. They must also take responsibility for the world they operate in and use business as a force for good and not just to grow their profit margin. This new way of working is not just a gimmick as some of the world’s most successful companies such as google and facebook have been built from the ground up with this type of cultural framework and as a result have become the ‘Mecca’ of places to work for the best Millennial talent. Below are the key elements any forward thinking business should consider if they are trying to adopt a Millennial Mindset and evolve their internal culture to attract, engage and retain the best modern employees.

WHAT A COMPANY WITH A MILLENNIAL WORKFORCE
NEEDS TO CONSIDER

Flexible working

Not everyone operates best from 9am-5pm and with the internet meaning you can work anywhere at anytime, businesses need to adapt accordingly

Vision and Values

Vision and values are not just words on a brand document. They need to be accurate, articulated and lived in every day business to attract the best talent

Hygiene Factors

Salary, job title, pension, work environment and training are important, but are largely hygiene factors that should be present in addition to a good culture

Regular feedback

In a digital world where the ability to access information is instant, modern employees want feedback regularly so they can take action quickly

Sense of Team

A key motivator for many Millennials is having shared experiences. Modern employees really value team accomplishments and a more matrix style of working

Self development

Self development enabled through mentoring, coaching and self-directed learning is required over the traditional corporate training schemes that are often too generic and outdated

Corporate Handcuffs

Corporate perks are seen as corporate handcuffs, resulting in employees staying because they don’t want to lose a perk and not necessarily because they like their job

Career progression

Many companies base career progression on time served and not on value added. People should be rewarded based on their achievements not just experience

Entrepreneurial

Modern employees are more entrepreneurial than ever due to access to information and online tools. Businesses need to harness this effectively and be less risk averse to get the best ideas

True altruism

Modern employees want a career that matters, where they do good and not just do well, meaning corporate social responsibility needs to be more than just a marketing gimmick

Company Reputation

An overwhelming number of modern employees believe their company’s reputation is important and would not hesitate to leave if it did something wrong or unethical

Job Security

Although job security is still important, modern employees understand the pace of change is increasing so expect to move jobs regularly and even leave and come back

Read the Latest Opinion

New articles are added regularly giving insight and opinion to help you understand more about the Millennial Mindset in the workplace and a new approach to business. Sign-up to the monthly newsletter to stay informed.

Modern Employee Defined

The Millennial Mindset is not dependent on your age, it is a way of thinking. As time moves on there is an increasing number of people, irrespective of age, adopting a Millennial Mindset which businesses need to understand.

See how we can help

We help you understand this new type of employee and new ways of working, then use this to work with you and change your ways of working so you can attract, engage and retain the best modern talent and stay competitive as a business