50% of the workforce will be Millennials by 2020. Are you ready?

In 4 years, Millennials will make up 50% of the Australian workforce. Yet many businesses are finding this group hard to attract, manage and retain. What do you need to do to make your business attractive to this growing workforce demographic?

The Values Generation

It’s important to Millennials to stay true to their own personal values. In fact the Deloitte Millennial Survey 2016 found 44% of the Millennials surveyed have turned down a job offer because of the organisation’s values.

Millennials want their employer to value people and community over profits. So to effectively manage a Millennial employee, you must demonstrate that being a good Corporate Citizen is important to your organisation. You also need to empower Millennial workers to express their concerns when faced with a task or situation that challenges their personal values.

Career development is important

On the whole, Millennials are highly educated and informed about what’s going on in the world. They want to continue to learn and be challenged. They also need to see there are opportunities for advancement.

To retain your Millennial workforce, show them a clear path for career advancement. Show them you value their contribution to your organisation and assist them to fulfil their ambitions by providing training opportunities so they can expand their skill set.

Provide flexibility

With device in hand, Millennials are working longer hours than previous generations by using their commute to and from work as part of their work day. In addition, you will often find Millennials working on weekends and after hours. They expect to have these extra hours recognised by their employer. They also expect their employer to share their flexible definition of a work day.

To keep your Millennial staff happy, be prepared to introduce flexible work practices such as starting work later or earlier and working remotely.

The time to change is now

For your business to continue to flourish, it needs to adapt to the expectations of a growing proportion of the available workforce – the Millennials. The team at End2End Business Solutions works with businesses to help them recruit, manage and retain their staff.

For more information on how End2End may be able to help your business, call 02 8977 4002.