23 Sep 2015

5 ways the millennial generation has changed the workplace

Generation Y are becoming increasingly prevalent in the workforce, with people born between the early 1980s and 2000 expected to account for almost half the working population in the next 5 years.

We take a closer look at how they’ve impacted the workplace in recent years and how they compare to the baby boomers and Generation X-ers they are working alongside.

1 - Tech, tech and more tech

As the smartphone and social media generation it comes as no surprise that Gen Y-ers are keen on embracing the latest tech in the workplace, with three-quarters believing that it makes them more effective workers, according to research by PwC[1]. However, Gen Y’s love of all things tech can cause conflict with older generations. For example, younger workers tend to want to communicate via email and instant messaging, while baby boomers prefer to chat face to face.

2 – A flexible approach

All work and no play is certainly not the way forward for Gen Y, who prize flexibility and a good work life balance. In fact, PwC’s research found that flexible working hours were viewed as more important than cash rewards[2] by younger workers. Gen Y’s trusty technology is helping them ditch the traditional 9-5 in favour of working wherever, whenever.

3 – Perks

If there’s one thing Generation Y loves, it’s an employee perk. With many people of this generation joining the workforce during economically turbulent times, pay rises and bonuses were often not on the cards, with employers instead looking to employee perks to attract top talent. Companies such as Facebook and Google have also paved the way in offering fun perks like beers on a Friday and an office pool table.

4 – Rapid career progression

Generation Y aren’t ones to rest on their laurels or sit back and wait patiently for a promotion, they want rapid career progression and they want it now. And they aren’t afraid to leave an employer if they aren’t getting the career opportunities they need. In fact, a Career Builder survey showed that 21% of employees planned to find a new job last year[3] and PwC’s survey shows that over a quarter of workers now expect to have more than 6 employers over the course of their career[4].

5 – Feedback and support

Forget annual performance reviews, millennials like regular feedback and support from their managers, so they can ‘keep score’ on how they are doing. It’s a good idea to sit down regularly with them and go over how they are progressing. Millennials also like to be able to give feedback on their employer, so introducing a forum where workers can share their views and opinions might be a good idea.

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Links:
[1] http://www.pwc.com/gx/en/managing-tomorrows-people/future-of-work/assets/reshaping-the-workplace.pdf
[2] http://www.pwc.com/gx/en/managing-tomorrows-people/future-of-work/assets/reshaping-the-workplace.pdf
[3] http://www.eremedia.com/tlnt/survey-20-of-workers-say-they-plan-to-change-jobs-this-year/
[4] http://www.pwc.com/gx/en/managing-tomorrows-people/future-of-work/assets/reshaping-the-workplace.pdf

This article was provided by Unum.