The purpose of this paper is to analyze the labor market regarding having the new generation of millennials as the modern workforce. The millennials are a generation of individuals, born between the years 1980 and 2000 and are now adults entering the labor market in large numbers. This new set of workers is fast outnumbering the current workers of the Baby-Boomer generation, and they will shape the workforce soon. Attracting these employees is critical to the future of business since their career aspirations, knowledge about new technology and attitude about work will change the 21st century culture of the workplace (PWC, 2008, pg. 3). The millennials are also more numerous than any other generation of the workforce since they currently form 25% workforce in the US and are expected to form 50% of workforce globally by 2020. Having seen millennials as the most potential new workforce, it is essential to look into what it will take to have these individuals as employees and adjustments that companies may require to make to accommodate them and exploit their full potential. This new generation of the workforce is different from the old Baby-Boomers in many ways.
The Difference in Millennials’ Workforce
With this workforce, there is a change, which continues to challenge the traditional beliefs on how to get work done (Brown, 2017). They use more technology and mainly work in teams, not factoring out the social mindset that they possess. Their expectations of the experience they get from their employment is drastically different. They are highly educated, self-confident, and good at multi-tasking and have energy in plenty.
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Highly Advanced in Current Technology
The use of technology by millennials distinct them, compared to their Baby-Boomer counterparts. They are defined mainly by their affinity to the digital world since they have grown up using laptops, smartphones and the social media where they expect access to information instantly. Poor enterprise technology is, therefore, something that they do not entertain. Knowledge trapped on employees and employers desktops and inboxes could be harnessed to improve inter-departmental communication and colleagues working beyond the firewall. This can only be possible through effective technological services, made available by the highly potential millennials. This has developed millennials into a lot that yearns to work out new, tough problems which need critical solutions (PWC, 2008, pg.3). These individuals are also different in their behavioral attributes as due to their age where they relatively lack responsibilities.
Immediate Feedback
The millennial workers are always seeking opportunities for showcasing their great technical skills and are therefore highly concerned about feedback on their performance. This is because they have their preference for speedy advancements and often desire to be creative (Brown, 2017). They always need feedback that is honest, clear and on time thus to them, the traditional semi-annual reviews are seen as long since they want to know whether they have done a good job soon as they are through. The framing and delivery of feedback are also of great importance to them. Be it negative or positive; the feedback should be structured such that there is no misunderstanding that could arise. To attract the millennials, the companies will have to understand their needs and make the necessary adjustments (Hewlett, 2014). Three issues are important in attracting, developing and retaining great millennial talent as shown by Centre for Talent Innovation in a recently done study.
How to Engage Millennials as the New Workforce
Equal Advancement Opportunities
This generation of the workforce is anxious to establish their career credentials. They are more educated and ambitious than other generations. The young employees hate always being seen as interns whose purpose is to get coffee and make copies for the old senior employees (Hewlett, 2014). Millennials of different origin, especially those who lack financial privilege are usually left out of relationships which could be useful in advancing their careers. In America, the whites are more favored in experiencing rewards at work, compared to their Asian and African-Americans which sends a particularly discouraging signal to the highly potential millennials with dreams of top position achievement (Hewlett, 2014). There are initiatives such as Talent Marketplace which encourages employees to apply for any developmental opportunity in accompany, like joining teams in different divisions that enable them to share different perspectives and new approaches to problem-solving.
More Flexible Schedule
About 78% of millennials work under dual-career families as compared to 47% of the Boomers. The millennials, therefore, want to be able to work in a flexible environment and remain viable for promotion. According to a study by Bentley University, 77% of this new generation of workforce believes that having a flexible work schedule would increase their productivity. In addition to this, 83% of them gain high motivation from the ability to work remotely. The increasing number of millennial workers calls for the integration of flexibility in the workplace. These employees should be encouraged to observe transparency on their needs to their teams and managers, which would help in drawing a flexible schedule. The flexibility may come in as a change in the hours of work attendance, compression of workweek, seasonable schedule and provision for telecommuting in some days (Hewlett, 2014). The flexible schedule would accommodate the many needs of the millennial employees, which would highly increase their performance.
Inclusive and Diverse Workplace
In America, the Millennial generation is the most diverse to date. Most of them are immigrants’ children, with about 15% having been born in foreign countries. These young individuals are more than thrice the number of adults of 65 years and above. Therefore, demands a workplace which reflects their values, while providing opportunities to interact and work with a variety of people regarding ethnicity, gender, culture and generational orientation (Hewlett, 2014). Companies should implement mentorship programs to provide the millennial employees with the opportunity of learning and understanding perspectives of different communities. Therefore, this will enable them to accommodate the diversity presented by their colleagues, creating harmony at the workplace.
I would recommend that all companies which desire to have a better future in their operations incorporate this new generation of millennials as a major part of their workforce. This can be achieved by taking a survey of the staff and seeking to understand the generations in the organization, where discrepancies in drivers between ages of employees are identified. The differences are highlighted and prioritized in improving engagement of the new workforce. More importantly, feedback should be sought from the employees since they are the ones with the key to future success of the company.
In conclusion, positive transformation in the workforce requires millennials, who are more advanced in technology, can work well in teams and are more energetic. Their desire for immediate feedback will ensure speedy operations in companies, which would increase their performance. The millennials are young and new in the employment sector and therefore should be engaged positively, considering that they are a largely different generation from the current Baby-Boomers regarding how they operate. The engagement could be done by providing them with equal opportunities for advancement, creating more flexible schedules and ensuring a more inclusive and diverse workplace. Provided with all these conditions, millennials will make the best workforce ever.
References
Brown, C., (2017). The Millennials: How do we engage this new workforce? Retrieved from: http://articulus.com.au/millenials-engage-new-workforce/
Hewlett, S. A., (2014). Millennials: A New Generation Is Reshaping the Workplace. Retrieved from: https://www.inc.com/sylvia-ann-hewlett/millenials-a-new-generation-is-reshaping-the-workplace.html
PWC report, (2008). Millennials at work reshaping the workplace (pg. 3) Retrieved from: https://www.pwc.com>documents>millennials-at-work-reshaping-the-workplace
