Employees’ needs and values differ; today’s workers are more motivated by intrinsic motivation factors (like meaningful work and challenge) than by extrinsic factors (like pay and benefits).
Millennials make up a larger share of the US workforce than any other generation, according to Pew Research Center, and their share of the labor pool will continue to grow.
Because more millennials are alive today than either baby boomers or Gen Xers, many believe millennials will soon make up 50 to 75 percent of the US workforce.
Furthermore, according to Deloitte research, millennials prioritize work-life balance above other factors and more than previous generations.
Organizations looking to improve engagement across the board and maintain employees in the long term will need to consider the values and demands of millennials in their strategy. We recommend the following:
- Provide opportunities for flexible work. Leverage technology to give your team members the ability to work from anywhere, take a call whenever the need arises, and stay in touch while working remotely and on differing schedules.
- Invest in leadership development. Consistent with the mastery principle, Millennials value personal growth and development, and are more likely to work for organizations that are invested in their growth.
- Keep up with technology trends. Millennials are accustomed to the instant gratification and convenience of up-to-date technology and are more satisfied when they have the digital tools they need to work both effectively and efficiently.
- Invest in solutions that encourage collaboration. Millennials want to feel as if they’re part of a team. Social intranets have transformed the way team members connect, get to know one another, and work together.
When leaders know what their employees need, employees feel motivated and valued. And when employees feel motivated and valued, they deliver at an unprecedented level. Employee engagement tools like company social intranets show a high return on investment for this reason.
- Content Strategy
- Digital Workplace
- Employee Community
- Employee Engagement
- Internal Communication
- Social Intranet