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August 24, 2018

Business

How millennials are making a huge impact on business.

Hands together to show millennial work and millennial values

As millennials continue to enter the workforce, their values, lifestyle preferences, technological proficiency, and sheer numbers are making big impacts on business culture. While not every individual is the same in their wants or needs, a vast majority of millennials have a desire for their employer to show social responsibility. This means they want sustainability, flexibility, authenticity, and diversity in the workforce. Most millennials want a high quality of life, which includes work-life balance, and the chance for remote work where possible. In fact, many of this generation are willing to leave a job they like for a lesser paying job so that it better aligns with their millennial values. 

Millennials also tend to be more digitally savvy than most generations before them, so new technological innovations in the workplace are easy for them to understand and adapt to. In fact, an increasing number of millennials are getting degrees from online universities, proving their commitment to digital advancements. This has lead to increasing numbers of technology, and regular updates in many offices. Discover how the business world is changing and adapting to millennials in the workforce, and how these changes directly impact employees.

Millennials prioritize purpose.

Millennials feel a direct connection between their daily life, and how their actions impact communities as a whole. Therefore, they want their workplace to contribute positively to the community, and eventually the world. They prioritize companies that have a corporate social responsibility that they can get behind, or at least have programs that help the company have a positive global impact.

Sustainability.

Millennials take great pride in working for companies that have environmentally friendly initiatives or incentives. From recycling to cutting down on paper use, millennials want to work for a company that is earth conscious and does what they can to reduce their footprint.

Diversity and inclusion.

Diversity and inclusion are often top priorities for millennials, and they want to be sure they’ll be working somewhere that can and does employ men and women of all races. Millennials appreciate working with people who are different from them, and understand that often this leads to more ideas and collaboration in the long run. They focus on companies that have initiatives to help to increase diversity across the board.

Social responsibility.

Overall, millennials want to work for a place that they feel is socially responsible. Even if the company or product itself isn’t tied directly to helping a community, millennials know each company can do their part to help others. Whether this is events during the holidays to raise money, volunteer time off, or organized events to better the community, each company can play a part. This element of a company is vital to millennials feeling satisfied and happy with their work.

Millennials love flexibility.

Millennials tend to find that a flexible work life leads them to be more productive during working hours, and feel enriched and creative as they enter the office. It can seem easy to mistake their want for flexibility as laziness or a low work ethic—but most business find nothing can be further from the truth. Millennials are willing to put in the hours, work hard and work well, they just want to know that there will be a give and take for them. This desire for flexibility is seen by an increasing number of millennials choosing to get degrees from online universities. This flexible education course allows them to give time to other important areas of their life, including a job.  

Remote work.

With technology improvements and easy accessibility to internet, millennials enjoy the prospect of remote work. New chat and productivity software makes it easy for employees to stay connected to the office. This goes hand-in-hand with the improving options for conference calling, video chatting, and more. Many businesses are giving employees laptops instead of desktop computers, again making it easier for employees to take their work with them anywhere. Millennials appreciate being able to work from home instead of taking sick days, and spend longer on vacation as they are able to work while they are there. Remote work has made it easier for parents to maintain connections to the office while still taking care of their children.

Work/life balance.

Vacation days, holidays, and working hours are all important aspects of work-life balance for millennials. Some organizations are offering unlimited PTO (within reason) to attract workers. Often these companies find that workers are engaged and excited to be at work when they know they will have the option to take longer vacations or have mental health days away from the office. Millennials that like to travel or have families also greatly appreciate the option to invest time in the office, and away from the office. Another important aspect of work-life balance is the hours expected in-office. Millennials often enjoy knowing they can work an 8 or 9 hour day, beginning when they work best. For some, this means getting to the office at 7 and leaving by 5. For others, this means arriving to work at 10 and leaving at 7 in the evening. The flexibility many offices are able to offer is attractive to millennials for a variety of reasons.

Opportunity for advancement.

Millennials are looking to move onward and upward in the workforce, and opportunities to advance within a company is an important aspect. Millennials don’t want to work in a dead-end job, they want to know that they will have options to work hard and earn a promotion. Millennials can be extremely dedicated and loyal to a company, but they want to know that their dedication and loyalty will be rewarded with promotions and raises. As millennials master their current positions, they want to be further challenged with increased or more difficult work.

Millennials are tech-savvy.

Millennials are making huge impacts on the business world with their technological understanding and appreciation. They’re even influencing older generations to increase their digital presence and creating a millennial culture that is spreading to other generations. Increased technology in businesses allows for more software that increases productivity and workability, the use of apps and social media as marketing, and more options for work programs that utilize digital strategy. Again, their love for technology is made clear by increases in online education for this generation.

Millennials are business leaders.

Millennial values are leading more and more of them to business school. This education on how companies run, combined with current millennial values, allows for changing business cultures that are impacting companies around the world. Millennials work in businesses around the world and influence how work is done there, as well as what is valuable to these companies. Millennials are moving up within these companies thanks to business leadership education, and are helping influence decisions and cultures around the world. 

So what do millennials want when it comes to their job? They want to do work that they’ve been trained and educated for, and they want to work at places that are working toward the greater good and will allow them to do the same. The right online business degree can help you be prepared to enter the workforce faster, and gives you the tools to be ready for whatever the workforce will throw at you. 

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