A new study of millennials in the workplace shows that the generational cohort’s loyalty to employers is deteriorating.
The research, conducted by Deloitte, found that while money can attract talented millennials, it doesn’t necessarily retain them.
Factors like workplace diversity and flexible working arrangements are cited as ways to keep these workers loyal.
The findings also suggest that millennial views of employers’ ethics and motivations are eroding, with just under half believing that businesses behave ethically, a drop from 62% in 2017.
What does this mean for companies today?
Well for starters, we’ve got to change the old school mentality of a traditional workplace environment. Millenials have wisened up, and realize that there’s MORE to life than working 9-5 with minimal leave time and stringent workplace parameters.
What changed the dynamic in the workplace?
We can now connect with one another with video, phone, chat, email and social media – it’s literally removed the need to be physically present in a confined workspace all day every day.
This is a dramatic shift in workplace lifestyle and has opened up limitless opportunities for employees to be FREE to choose their workplace and space while remaining connected and productive.
No more of the days of back to back conference meetings, gray and beige cubicles, clocking in and out like robots, day in and day out.. the drudgery of it all has expired.
And thanks to studies like these, it’s apparent that no amount of money will convince employees to accept this traditional workplace model any longer.
So is this “modern workplace” what Millenials want to see more of?
Yes. They’re aware of the new possibilities of working effectively while remaining flexible in their workspace and hours. They appreciate and now expect the benefits that technology offers while having the autonomy to make the choice to use them.
And let’s face it, technology isn’t going anywhere. We must put it to work and start treating employees like HUMANS while adapting to this new work technology-infused landscape.
What’s the big picture?
If any company wants to attract and retain top-quality talent these days, regardless of the generation they’re aiming for, it’s imperative that the traditional workplace model be completely overhauled and infused with technology, autonomy and an element of human appreciation that allows employees to make their own decision about where and when they work while maintaining work quality and performance.
It’s time to revolutionize the way we build company culture, HR programs, and office spaces.
Don’t leave it up to Silicon Valley to take lead on this – a modern work environment shouldn’t be confined to the savvy West Coast startups. Even the largest and most established organizations can adopt a new approach to how they manage employees.
Offering connectivity options, technology, flexible hours and technology to manage employees is the ONLY way to keep and attract high-quality staff – it’s not too late to adopt new programs and policies now.. and believe me, your staff will thank you for it!