What Millennials Want at Work (and Why You Should Care)
We’ve told you before how millennials are driving the current economy. They’re also rapidly becoming a larger share of the workforce – 40 percent of it by 2020, by some estimates. If you want to attract the best of them (and what business doesn’t want the best talent?) you’ll probably have to make some changes to your workspace, and how you do business. Most, if not all, of which are for the better.
Here are 5 big things millennials say they want out of their job:
Flexibility
Millennials are often accused of being self-absorbed. True or not, surveys show many of them value the ability to control their work-life balance. A recent report suggests 77 percent of millennials feel that a flexible work schedule would make the workplace a more productive space.
But flexibility doesn’t stop at when to punch a clock. Millennials also want the ability to sometimes work from home, or at least work close to home, avoiding the nasty commute that comes with doing business in the city.
Collaboration
Millennials want to work together, not against each other. They’re seeking office environments where group brainstorming is encouraged, and new ideas are respected.
Fostering that ideal also means crafting a more open workspace not ruled by cubicles and closed-door private offices. SCVEDC has an excellent tool to help select a site conducive to open and flexible office plans.
Training and Communication
When they start a new job, millennials want to know they can succeed at it. They crave a boss who understands their skillset, and makes good use of it. They also want more training after the job starts; they’re looking for a mentor rather than a manager, someone who’s as invested in their future as they are.
Whether it be regular feedback, transparent goal-setting, or the passing down of knowledge that will help them optimize their job performance, keeping the lines of communication is highly valued by the millennial population and, wherever appropriate, usually in line with best practices regardless of industry or role.
Financial Stability
Maybe it’s a leftover mindset from the recession, but millennials are savvy when it comes to financial stability. They recognize when a job makes economic sense for them. That doesn’t just mean a good salary, it means a job where they don’t have to pay for parking, or spend a fortune on gas to commute.
Passion and Purpose
Millennials are far from the first generation to want to make a positive impact through their organization. But they want to go beyond improving the company’s bottom line or signing Debra From Accounting’s birthday card. They’re seeking passion-driven careers to make the world a better place, and they want you to help them do it.
Aside from creating meaningful work, matching charitable donations and organizing periodic service days are another way to show millennials that you, and your company, are thinking about the impact you have on the larger world.
You can attract millennials by getting your workspace LEED certified, but that’s often a long and expensive process. Another way to curb carbon emissions and show millennials you care is to set up shop close to where they live, which is, increasingly, suburbs like Santa Clarita Valley.
Ready or not, millennials are quickly becoming the top talent you want for your workplace. That means you’d better pay attention to what they’re looking for, otherwise you’ll be fighting an uphill battle to keep them in the door.
SCVEDC strives to support the creation of high-paying jobs for our trained workforce. Contact SCVEDC today to connect to top local talent, custom workforce training, and available office space so you can take your business to the next level.
The Santa Clarita Valley Economic Development Corporation (SCVEDC) is a unique private / public partnership representing the united effort of regional industry and government leaders. The SCVEDC utilizes an integrated approach to attracting, retaining and expanding a diversity of businesses in the Santa Clarita Valley, especially those in key industry clusters, by offering competitive business services and other resources.
