By Kalyca Becktel
Summer is fast approaching, and this means a fresh crop of college students are graduating, eager to use their newly acquired skills to better your business. However, the new-grad Millennial has different expectations of the workplace than the Gen-X or Baby Boomers before them.
According to Launchbox, a San Diego company dedicated to helping organizations adapt to the millennial workforce, new grads aren’t seeking employment just for the cash flow; they’re seeking personal enrichment. Millennials, who were born between 1980 and 2000, are outward thinkers whose work revolves around collaborative teamwork and involved leadership. They are influenced and inspired by their peers and communities…not by the higher-ups.
Because of this change in corporate structure, executives may need to alter their internal relations.
Millennials currently represent 36 percent of the workforce. By 2025, that percentage will rise to 75. Companies wanting to avoid the average $20,000 cost to replace each Millennial they lose will have to make some possibly uncomfortable changes.
For most millennials, the top priority is socializing and networking with co-workers. Team-building and group projects should be tacked onto the workplace agenda. Second, millennials need to feel as if their work is vital to the company’s growth; that what they are doing provides a framework of success. Finally, millennials thrive in an environment of constant two-way feedback. Not only are they looking for praise, but constructive criticism is highly valued as well.
The millennial will gladly provide a CEO with an honest assessment and expect the same in return. The walls of hierarchy aren’t recognized by millennials.
Want to learn more about creating a “millennial friendly” workplace? Watch the video from Vanity Fair above.
Kalyca Becktel, a proud millenial, is interning at Stalwart Communications, San Diego’s only pay-on-performance marketing and public relations firm. Follow the agency at @Stalwartcom.
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