A new generation of employees is taking over the world. Who are millennials and what are the facts you need to know about them?
A generation of entrepreneurs, employees and employers. Well educated, skilled and able to multi-task all the time. They expect to gain experience in everything they do and they put high expectations and ambitions. Millennials as employees prefer to work in teams than as individuals. For this reason they use co-working spaces rather than office. Social interaction and quality of live take important place at the list of their priorities.
Born between 1980 and 1994, otherwise called “Gen Y” they can imagine reality without technology since they spent a part of their childhood without phones or computers, but they can barely live without it. They are also called the generation of entrepreneurs.
Millennials are interested in various topics. Employers that belong to previous generation – generation X can’t understand well their professional resumes full of different types of experiences. They are used to change multiple types of jobs and they do it very often. Reason for this, besides of gaining experience, is simply a desire to move and change things. They are motivated by the fact that they can make a big change in the world, their community or in their life and regarding this fact, there is a fact that they choose job opportunities that give them freedom to do it.
Employees of this generation enjoy taking risks and creating challenging environment in their work. Even if they seem to act very stubborn, they require getting constant feedback for their work. Attention for employers: Millennials will appreciate your feedback, but they will appreciate more the way you deliver it.
If employers want to keep them as long as possible, mentoring sholud not be presented as additional value, it is a MUST, as well as creating team – oriented culture and encourage creativity which is also very meaningful for this generation. Managing work performance is other source of motivation for Millennials. They are driven by the sense of achievement and while working all the processes must be transparent.
Here are some of the long-term goals that Millennials set in terms of business:
- Make a positive impact on society / organization
- Help solve environmental challenges
- Work with different people and learn from them
- If not starting business, work for the best company/organization in a specific industry
- Do only what is your passion
- Become an expert in the chosen field
- Manage life-work balance
- Achieve financial security
If we look at them as entrepreneurs, they will do exactly the same mentioned things as they would like to see as employees. Some say that this might be the most entrepreneurial generation. But the focus can’t be only on them since their customers will belong to next generation – Gen Z. For this reason, Millennials should take care of all their needs. Gen Z is the future and it might be a challenge for them to adapt and get the most of their potential.
Even nowadays, countless members of Gen Z belong to their customers, very soon they will become employees and leaders in business world. Millennials manage to catch their attention so far by innovating things and giving them support they need. It is still difficult to define all the characteristics of this new generation, but some facts already exist and they are just some useful milestones Millennials use in creating strategies for attraction and engagement of new customers.