Millennials will complete the digital transformation of businesses. Here’s how to get them working for you

Posted by media on October 20, 2016 at 9:00 AM

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In this blog we've talked about how to include the Millennial generation in companies’ commercial strategies. But businesses should not only aspire to catch the attention of those born between the early 1980s and 2000s as buyers - they should also strive to be perceived as workplaces where Millennials want to develop their careers. Why? Because this group is earmarked as the one set to complete the digital transformation of enterprises, since they are the first digitally native generation and have know-how that no executive over 50 years old would.

All companies seeking Millennial talent are competing to attract and retain the best candidates, but given that it is a generation characterized by having very little loyalty to employers, the issue is to develop a strategy that not only attracts these professionals but retains them. So how can a business stand out as an attractive prospect for Millennials?

This post is also available in Spanish.

To attract Millennials, a company must take into account that this generation does not consider salary to be the only or the most important factor when deciding to embark on a new project: over 50% of millennials said would be willing to take a pay cut in exchange for working for a company with which they share the same values, and almost 90% said they’d be willing to offer their skills in the service of the common good.


By 2020, millenials will comprise half the global workforce.

Source: catalyst.org

Millennials also show considerable aversion to companies that do not give them opportunities to realize their full potential, a reality in which no less than 28% of Generation Y believes themselves to be stuck.

These and other equally interesting statistics give clear clues about what kind of businesses fit in with the aspirations of this generation. Here we present the 10 traits that characterize Millennials’ preferences in regards to a workplace.

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The 10 traits of companies where Millennials prefer to work

1. Ethical companies: those oriented around making a permanent and positive impact on society or in the places where they operate.

2. Companies that invest in training or offer real opportunities of mentoring or co-development between young and experienced employees.

3. Companies in which the workforce is actively involved in decision-making, either through disruptive models like holocracy or by directly reviewing or influencing the corporate strategy.

4. Companies that understand that millennials do not aspire to work for the same company all their life, and instead of punishing this attitude, they are proactive in offering them other roles and career paths within the same company.


The average millennial is staying at their job less than three years.

Source:  What Millennial Employees Really Want - Fastcompany


5.
Companies that respond to the desire of their employees to transcend their originally functions and allow them space to be creative and innovative.

6. Companies that offer flexible working conditions in terms schedules and work attire, as well as spaces for social interaction and opportunities for employee enrichment.

7. Environmentally-friendly companies that actively develop policies, systems and working methods in line with that mentality.

8. Companies that integrate employee feedback and evaluation into their procedures, offering workers a sincere and constructive assessment of their contribution.

9. Transparent and honest companies in terms of their values, HR policies and their use of technology.

10. And finally, companies who care about who their top executives are and what they stand for, because Millennials place great value in the person or people leading the organization for whom they work.

All companies must assume that ways of working and career expectations of Millennials are not the same as they were a few years ago. To successfully recruit members of this generation and help them give the best of themselves, companies must devise development and incentive programs to live up to Gen Y’s expectations by providing value to society and offering each employee a sense of fulfillment at work.

This post is also available in Spanish.

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