Millennials are All Grown Up: The New Needs of Your Workforce
Gen Z may be the new shiny generation on the block, but chances are your current workforce is stacked with Millennials. As employees age into their early and mid-thirties, they are moving into a new life phase. Their priorities are shifting to things like paying off debt, saving for the future, and potentially adding to their families. Millennials are going to be seeking out resources to help with these plans, and one place they will be looking is to their employer. To maintain employees that you’ve invested in, there are a few things you can offer that will significantly benefit this group while not putting a significant strain on resources.
- Address their paternity and maternity leave concerns.
Millennials are waiting longer to have kids, and as such, have a better understanding of what this may mean for their careers. Create clear transition plans for leave and also for their return. It’s just as important they know they have a job to come back to as it is to take time to spend with their new child. Take it a step further by making availability easier scheduling software. This will allow all your staff, but especially new parents, to easily indicate when they are available for shifts.
- Make financial planning easier.
While Millennials are in the phase of their life where they want to be more financially savvy, they may not know where to start. PWC reports that 37% of employees are spending 3 hours per week at work dealing with financial issues and 20% say these concerns distract them from work. Take this as an opportunity to host a financial planning session with a local professional.
- Get them involved in your mission.
Millennials are more loyal and optimistic when they feel they have an impact on their employer and in society. Show them your dedication to the local community by organizing group volunteer outings or host a charity event at your workplace and allow your employees to volunteer for the event.
- Wellness is not a trend.
As this generation moves into the next stage of their lives, they are taking stock of the things in their lives that are causing them the most stress, and they are seeking resources to deal with these stressors. You can start small by providing a list of resources that provide insight and advice on wellness. If this becomes a topic that many employees are interested in, you can consider group sessions with an expert or provide incentivized stipends for wellness activities.
Growth within the Millennial generation will be a time of change that you can be a part of as an employer. Showing support to this generation of employees will create happier and loyal employees for you, and your customers will receive an even better experience with your business.