Millennials in the Workforce
Currently, 35% of American employees are millennials, which makes them the largest generation in the U.S. labor force. By 2020, nearly half of the workforce will consist of millennials. While these facts may make some people cringe, it is actually a good thing. Too much time is spent emphasizing the negative labels associated with millennials, that the positive changes they have brought to the workforce are often over looked.
The Push For Companies to Evolve
Millennials are an idealistic generation and have greater culture mindfulness than the generations before them. Their desire to work for companies with a positive culture has helped to advance the concept of an “ideal” work environment. This has pushed companies to evolve and shape their cultures. Listed below are the things millennials have been looking for in company cultures, and how those culture shifts improve the well-being of the entire workforce.
1. Wellness: The survey, Adult Millennials and Health, conducted by Allidura Consumer, GSW and Harris Poll, revealed that 95% of millennials care deeply about their health and look for a workplace culture that supports their overall well-being. Companies with a corporate wellness program have a better chance of attracting and retaining millennials. Since they are more likely to be engaged your wellness program, they will help encourage all generations to participate. This leads to an overall healthier workforce.
2. Flexible Environment: Millennials desire a flexible schedule and remote working options. Companies that offer this are perceived to care more about employees’ work-life balance than those who do not offer flexible work options. Some employers may be hesitant to let employees work from anywhere, but studies show that this perk is beneficial for all employees. According to this study by the Sloan Center on Aging & Work at Boston College, workplace flexibility arrangements lead to a decrease in stress and burnout and an increase in productivity and creativity.
3. Community: Millennials need to know how they fit into a company and see how they can contribute to the community in which they work. This desire has led to companies providing more feedback and more precise job titles. It has also helped establish the importance of team building. Creating a sense of community like this helps all employees feel a sense of belonging and social connectedness, which is shown to improve emotional well-being and overall health.
4. Personal Development: 80% of millennials say an emphasis on personal growth is the most essential quality of a company’s culture. Therefore, companies with cultures that support employees’ personal growth goals have a significant advantage. Human beings possess a natural desire to learn and grow, so supporting desire can help improve each generation’s happiness and psychological well-being.
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