Today, millennials’
work expectations are dissimilar compared to generations before. They seek to
work for an employer which allows them to look forward to waking up for work every
day, and to outshine their passion in striving towards success. More often than
not, it is the company culture that encourages them in every way that at the
end of the day, they felt so adrenalised that they enjoy challenges, collegiality,
and work atmosphere.
In an article by
Gerard Adams which was featured on the Entrepreneur.com,
he shares personal insights on the importance of understanding millennials’
expectations towards company culture.
As time changes,
entrepreneurs realised the needs to envisage the company cultures that would be
a good fit to the future of the company – millennials. Being an entrepreneur,
you are responsible for making a number of decisions within your company,
including the need to establish its foundation, business model and much more.
As your business grows, it will likely fall on you to make the tough decisions
that guide the company. These decisions will play a big role in determining
your company culture.
Regardless of how
large or small your business, it will have its own culture. When trying to
bring in and to retain the millennial’s talent, your company culture is going
to play a large role in their decision making. An entrepreneur’s business may
depend on creating a culture that breeds success, and that is going to be
contingent upon an understanding of catering to millennial desires.
Understanding Millennials
The current
generation of college graduates doesn’t plan on staying at the same company for
more than a few years, let alone for their entire career. Millennials have a
sense of self-worth, and they will constantly search for a business that better
suits their expectations and needs.
You, as the
entrepreneur, will have to come up with a way not only to attract rising talent
but retain it. Create a company culture that resonates with millennials on some
level. Even less sexy businesses can have a culture that young people are
appealed to.
Offer the Right Benefits
Many entrepreneurs
find that offering a sizeable salary won’t retain millennial employees. While
this worked for previous generations, millennials seem to be rocking the boat.
Instead of letting this frustrates you and disrupts your business, focus on
benefits that millennials want to see.
One of the top
priorities for many millennials is their work-life balance. Offering a generous
salary or wage won’t go far if your employee isn’t able to enjoy their
hard-earned money, and this is even truer with the newest generation of skilled
workers.
Consider increasing
the number of days an employee can take off or add more work holidays. Offer
flexibility for them to work remotely. Your employees will stay fresh and will
be more eager to commit time and energy to your business.
Develop Rising Talent
A good company
culture will go beyond perks and benefits. Many millennials want a meaningful
work experience that builds their skills, not just their bank accounts. Let new
hires and recently added employees know that they are a valuable piece of the
company.
Bring them in on
meetings, keep them updated on all facets of your business and ask for their
opinion. Also, millennials are fairly open to criticism - they just prefer it
face-to-face and in a timely manner. Millennials want to work for a business
that they can also call their own, so treat them like an important part of your
business. After all, they are the future of your company.
Inspiration: When Recruiting Millennials, Your Company Culture is What Matters
Image Source: endurant.com
Chia Yi Jing | Bubbling with enthusiasm, bright ideas, and confidence, Yi Jing set foot in the PR world with Orchan Consulting, where she was offered permanent employment after a successful internship. She is determined to make her mark in the industry, and her bosses know that she will.
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