By 2025, 75% of the workforce will be Millennials (born between 1983 and 1994), while Generation-Z (born between 1995 and 2002) are hot on their heels. These are people who have grown up in the digital age and who are more comfortable with a keyboard and mouse than a pen and paper.
With this digitally savvy population has come a modern set of values that have become a mainstay in society. If HR managers want to not only acquire the best talent, but also reduce their employee turnover and retain those superstars, they need to start aligning their corporate culture with the values of the workforce.
Below, we’re highlighting some of the top priorities of the modern workforce, and how HR managers can implement practices to show they understand and wish to empower and motivate this new generation of workers.
1. Gender Equality
McKinsey & Company reports that 75% of the CEOs place gender equality as one of their top 10 business priorities. However, only 45% of employees believe that their companies are actually taking action to improve diversity. The younger generation are the most apprehensive, with only 38% of women with entry-level jobs believing that gender diversity is being handled well.
This proves to be an excellent opportunity for smart HR managers to implement meaningful branding, company policies and hiring practices that directly and obviously promote equality and diversity and protect women from harassment and glass ceilings.
Create an environment where employees feel fairly treated and are proud to declare themselves a part of the culture and you will already be ahead of the game.
More than ever we live in a global world with immigration increasing steadily. In Europe especially, the European Union’s freedom of movement has meant that the work environment is filled with migrant workers. Labour market indicators presented by eurostat show that the employment rate of those aged 20 to 64 was 64.5% for those born outside the EU, and 76.5% for those born in another EU Member State.
This generation has grown up connecting with people around the world through the Internet, so they highly value corporate cultures that are actively embracing multiculturalism.
A robust language training program or a selection of cross-cultural workshops can be a great signifier to new recruits that this is a priority for your organisation. Employees who are able to learn languages they need to adapt to their environments or converse more effectively with their colleagues are likely to feel a greater sense of belonging.
Bespoke training like this is exactly the kind of thing we can help implement within your organisation, just get in touch to discuss it with us.
3. Environmental Impact
2019 saw the largest millennial study Deloitte has done so far, surveying 13,416 millennials across the 42 countries and territories as well as 3,009 Gen Z respondents from 10 countries.
The survey showed that climate change/protecting the environment/natural disasters was the top personal concern of both generations.
It also showed that 27% of millennials believe that businesses should be trying to improve/protect the environment, and yet only 12% believe that businesses actually achieve that.
Comparing this to the just 28% that believe businesses should be trying to make profit, but 58% believing that that is what businesses actually achieve shows how out-of-step business culture is with millennials’ personal priorities.
Another opportunity to highlight your business to millennials would be to show how, alongside profit, your organisation prioritises being green. Highlight recycling programs you are a part of, bike-to-work schemes, and show careful examination of the impact your organisation has on the environment, and you will be giving them that extra sense of personal satisfaction working for you.
4. Providing Preparation for Industry 4.0
The world is changing as technology advances ever quicker – and there is a paradigm shift in the workplace being coined as Industry 4.0. This is where the computerisation of the last few decades is being taken to the next level – where AI, wireless technology, sensors and large networking allows for machines to take over a lot more of our work.
The Deloitte study also indicates that Millennials believe that businesses/employers have the most responsibility in preparing workers for Industry 4.0, whereas Gen-Z put the onus on educators.
The best HR managers are taking this information and appealing to the entire lot by ensuring their businesses are also including educators. HR departments that have clear lists of preferred suppliers for training and education immediately indicate to new recruits that their learning and advancement is going to be supported. Ensure that that training not only includes training in languages, culture, gender equality and environmental impact, but also specifically in burgeoning technology and its application within your industry.
What are your best practices for understanding and embracing the new workforce and the sturdy belief systems they are embracing?
Make Language Training Available for Your Team
The easiest way to ensuring a diverse and multicultural environment for your burgeoning millennial team is to make language training available to them.
Fill out this quick form to tell us what kind of language training you might be looking for and one of our Account Managers will be in touch to discuss your needs.