How corporations need to change if they expect to attract Gen Y employees
Millennials know what they want out of their careers, and it isn’t getting lost in the corporate jungle. And when companies aren’t meeting these grad’s expectations, they’re simply moving on.
A recent survey by Accenture Strategy showed that six in seven 2016 graduates don’t want to work for a large company. If big businesses want to retain this increasingly growing sector of the workforce, they’ll have to make some major changes.
- Informal Training: These employees want feedback and coaching, but aren’t interested in uptight learning practices. Sixty-eight percent want to pursue on-the-job learning. Employers should provide projects that can help recent grads develop professionally.
- Stability: Don’t try to give these grads the shaft with freelance gigs and zero benefits. Most (55 percent) want full-time employment, and only three percent prefer working as an independent contractor.
- Corporate Social Responsibility: Millennials want to work for businesses with morals. Ninety-two percent say it’s important to work somewhere that displays social responsibility and 74 percent would work at an organization with a “positive social atmosphere,” even if it meant less pay.
- Dynamic Internal Roles: Sixty-nine percent want to work in their same job for at least three years, but they’re not interested in climbing the corporate ladder. Companies need to provide a working environment that allows for multiple pathways to success.
And businesses shouldn’t think that making these changes will attract a hoard of lazy social media addicts. Recent grads are willing to work hard. Over half (52 percent) are willing to give up their evenings and weekends, and a majority (72 percent) of recent grads would be willing to relocate or move to a different state for a promising job offer.
The millennials are rising up and they’re bringing their “lofty” ideals with them. If corporations don’t want to be left behind, it’s about time they start evolving. The workforce certainly is.
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Article last modified on October 30, 2017 Published by Debt.com, LLC . Mobile users may also access the AMP Version: Millennials' War on the Archaic Business Model - AMP.