Nowadays, millennial employees are in the focus of businesses as they are entering their prime working and spending years. At the same time, they are giving birth to Alphas, the next generation after Generation Z.
What is common for all three generations is that all regularly turn to the tech for facilitating their lives. Whether we should fear the upcoming tech or not, the fact is that we all strive for convenience. Because of this, 52.6% of the website traffic in Q4 of 2019 came from mobile phones.
Logically, the usage comes not only from convenience, but also the faster responsiveness. And in a fast-paced business or social structure, there is no choice but to adopt. For this reason, most of the traffic comes from developed countries that have 76% smartphone penetration among adults.
Combining the growing number of millennial workforce and the rise of smartphones, can we predict the future of the workplace? As people strive for convenience, why neglecting this need while working? Finally, as your company needs to hire millennial employees, what to do to attract their top tier?
The World of Generation Y and Z
If asked, each generation would claim “their times were better.” At the same time, according to the “Factfulnes” book, most people face the three reality distortions:
- The tendency to divide the world into two camps
- The way we consume media (where fear rules) to
- How we perceive progress (believing that things are getting worse)
In the real copy of the book, the author describes his survey in Davos, where most world leaders made false predictions. Thereby, we should not feel bad for our cognitive bias.
Instead, we should acknowledge the future where:
- There is no us and them – we are all embracing the technology
- The media sells fear about AI and the process automation
- It is evident that the world has less child death rate and better education for all
Except for climate change, the world is becoming a better place for generations Y and Z. However, the typical millennial doesn’t feel like that.
According to the Deloitte report, generation Y face a variety of anxieties about the world. Following this, their opinion about businesses is declining over the years. By the report, 49% of surveyed would, if they had a choice, quit their current jobs in the next two years.
The reason behind this is the opinion that businesses focus solely on their agendas. At the same time, both generation Y and Z, in general, would support companies that align with their values.
Seemingly, this situation calls for the reaction, without spreading fear as some media. It is because, as mentioned, millennial workforce is becoming the driving force of the world economies. In this case, as both producers and the consumers. Moreover, almost every child in the world today is the millennial’s offspring. And as we know, from experience or tales, children are big-time consumers.
How to Run a Modern Businesses
Imagine running a business where you know that half of your millennial employees are seeking better offers. If holding on to the practices of 19th-century manufacturing, this might not be a concern. However, any business requiring worker’s skills would have severe consequences.
To keep afloat, and the level of sales to your millennial consumers – business modernization is necessary. In doing so, you should consider all of the following.
Acknowledge Employees’ Suggestions
Most Generation Y and Z likely know about authors like Simon Sinek. In most cases, these authors support the teamwork and efforts to make a change. Why not use this energy if it resides in your office?
It is also because fostering the innovation culture would prove beneficial one way or another. Nowadays, it is hard to hide anything from social media. In the case of the above mentioned, a positive and vibrant company culture won’t get unnoticed. And vice versa.
Nourish Employer’s Branding on Social Media
We mention that the “top of the crop” of the millennial population would support companies that align with their values. Thereby, businesses should think of their web presence not only for the sake of customers.
Having smart employers branding means that both the company and officials’ social media should resonate the same.
Follow the Tech Improvements
Finally, improving your processes by making them more convenient shows that you care. Imagine having a fast speed internet at home, and dial-up at your work? Luckily, there is no dial-up in most offices, but is it the same with those using smartphones during the day and filling papers at work.
For this reason, the transition to modern business also means including the tech in work. It is because giving an option for the convenience and efficiency of handling tasks would enhance productivity.
Millennial Employees Satisfaction
In any sense, business modernization would prove to be a necessity, more than a choice. Some of the early adopters of social media, including Generation X, are now executives of successful companies. But this success would get unnoticed if they are not subtly promoting it.
By checking the successful CEOs social media when considering the job offer, many would hit the apply button. As these applicants are mostly millennials, you can imagine what would be their commitment if they have values alignment.
However, promotion should resonate the reality. By the same Deloitte report, 79% of millennials worry if “they’ll be victims of online fraud.” For this reason, modernizing your business should include all of the three suggestions we made. When the change gets its supporters, the company will thrive.
In this way, you would also avoid the gap between the generations, as elders are using smartphones, too. Because of this, Infidia is providing a mobile solution that is convenient to use. Of course, the primary goal of Infidia is to help by enabling invoice financing at the click of the smartphone.
However, we are providing a free software that could help modernizing your business. Thereby, improving the satisfaction of your millennial employees. You could read more about our solution here and on social media. The later is because we do care about both our millennial employees and employer branding.