Millennials in the Workplace

2014 is seeing a transitioning workplace. In 2014 Millennials are expected to make up 34% of the workforce, and in 2020 expected to make up 46%*. This is creating huge shift in the workforce and the priorities of a company’s employees, and therefore affects how a company can satisfy and retain those employees. Millennials are unlike any generation before them. They grew up heavily involved in team sports and immersed in technology.  This has shaped the generation to be made up of social, tech-savvy collaborators that are very achievement oriented. They also are well-educated and aware of the large size of their generation, making them very socially-conscious. Baby-boomers prefer working individually and value clear boundaries. They view their managers as experts, while Millennials view them as a coach.

This new wave of will need to be accommodated in the workplace unlike generations past. Millennials want to work for the personal enrichment and fulfillment it gives them, whereas Baby Boomers prioritized salary and compensation over environment.

The traditional workplace environment is suited for the readily-retiring Baby Boomer generation. Cubicles, business formal wear, and a 9-5 schedule is unattractive to Millennials. This new wave of talent will need to be accommodated in the workplace unlike generations past. Companies must adapt to the changing times and start leveraging collaborative, unique work spaces.

To attract and retain the new talent, their interests must be met. Millennials want an environment that stimulates creativity, and one that inspires them to contribute and be involved. They seek a work culture that is relaxed and has open communication. They want a fun, less formal, and comfortable work environment that encourages team work and engagement. Millennials are not fans of the traditional work environment.

As this group begins to dominate the workforce, we see companies that are starting to make efforts to accommodate and draw in this young new talent by reshaping their work environment. Is your company prepared for the influx of Millennials and new talent?

        

 

*numbers from Lynch (2008) retrieved here
First image courtesy of a flickr by k gibbons
Second image courtesy of a flickr by Phil Manker

Written by: Kim Kirk

5 Top Benefits of Alternative Workplaces

What is an ‘alternative workplace’?

New Ways of Working® (NewWOW, http://www.newwow.net ) has done some useful studies to understand the changing nature of workplace, technology, and the environment.  This research consortium conducted a survey on alternative workplaces in 2013, to understand why and how organizations decide to use alternative workplaces.

According to NewWOW®, an alternative workplace is the combination of non-traditional work practices, settings, and locations that supplement or replace traditional offices. This particular study revealed a few solid trends in alternative workplaces, one of them being the importance of “people issues” over cost savings for businesses.  In other words companies just like yours have realigned priorities in recent years, revealing employee satisfaction issues to be the top motivation for using alternative workplaces.

What are the top benefits of alternative workplaces?

1. Attraction and retention of employees
2. Employee work/life balance
3. Increased employee satisfaction
4. Increased employee productivity
5. Cost savings, including space reduction

Attraction and retention of employees:   
People are happy with the organization’s work environment- they are more likely to be drawn to the company. More importantly, they continue to see the benefits of nontraditional work environments- they stay there.

Employee work/life balance:
Mobility is key in alternative workplaces.  When employees have the ability to work in a variety of settings, both inside and outside the office, they can maintain a better work/life balance.

Increased employee satisfaction:
Put simply, people are happier when they aren’t stuck in a traditional workplace! Most people are much more satisfied sitting in a comfortable café-like area than a bleak cubicle.

Increased employee productivity:
Alternative workplaces allow people to work together and in turn be more productive. Furthermore when people enjoy work, they are more productive!

Cost savings, including space reduction:
Real estate expenses are reduced, while more sustainable practices also take away organizational costs.

Could your company benefit by implementing one?

NewWOW®’s surveys supports the use of alternative workplaces to help companies focus on more than simply saving money.  People that work in these environments are happier and more productive.  If your company is looking to address both people and cost-saving issues, you would be doing yourself a favor by looking into implementing an alternative workplace.

What have been your experiences with non-traditional, alternative workplaces? Discuss in the comment section below!

For the executive summary of the NewWOW® study, click here
To see how other companies have employed alternative workplaces, click here

Written by: Chelsea DeBoer