As more and more Millennials entering the workforce and assume management positions, you may notice changes in workplace culture. Why? Because there are distinct differences between generational work styles, expectations, and career perspectives.
For the first time, a generation can look forward to earning less than their parents. Born between the year 1982 and 2004, Millennials face a different world than the one their parents did at the same age. Outsourcing, inflation, technological development, and automation conspire to threaten their work. But despite the future’s uncertain outlook, Millennials seem uniquely suited to surviving in the modern workplace.
More flexible and adaptable than their parents, Generation Y is at ease in the diversified modern economy. Employers have to come up with a different set of strategies to retain Millennials and to keep them motivated. And to show you these new work habits, Market Inspector has created a video that describes these and other factors that are most important to the Millennial generation.
Although there are plenty of negative myths surrounding Millennials, they’re also known to be the most adaptable and ambitious generation. In fact, more than a third of Generation Y is expected to start their own business within the coming five years. And today they supplement their income with hobbies they’ve transformed into moneymaking ventures using modern tools like Etsy. With younger Millennials joining the workplace for money rather than a career, don’t expect them to spend their entire life working for one employer in an office. They expect to be mobile, working from home, the office, or cafés at will.
Don’t waste time wishing your Millennial employees were different. Your task is to take this new understanding and use it to reposition how you interact with, motivate, and reward your staff. For another perspective, check out this infographic on Millennial work habits.