The younger workforce is challenging the conventional notion of work. From company culture to communication and flexible work schedule to permanent remote or hybrid work – this new-age workforce is making demands of their new bosses and looking to change everything – with little to no choice left for employers to dictate the workplace terms. One of the top concerns being anticipated as the reason behind this attitude and approach of Gen Zs and Millennials is a deep fear of the state of the world.
A 2022 survey conducted by Deloitte highlighted that Gen Zs & Millennials are struggling with various issues pertaining to cost of living, climate change, etc. Consequently, employees are pressing employers to get involved and take action, leading to second-prioritizing work and a lack of professional fulfilment.
But the critical question that arises here is: to what extent should companies jump through hoops to accommodate the never-ending demands of the younger workforce in exchange for a half-hearted attempt to work? In recent years, the media has focused a lot on the workforce. Still, it’s time to turn some of the attention to the employers and business owners, who happen to be at the receiving end of generational shifts at workplaces.
So, what influences the younger workforce?
Millennials already make up the largest segment in the workplace. It is projected that by 2025, 75 percent of the global workforce will be represented by Millennials. At the same time, experts predict that employee turnover is certain to rise as the younger workforce is going to be on the move seeking better opportunities. With no more retirement benefits and hefty pension plans, it’s clear that job-hopping has become common among young workers, thereby forcing employers to be on a continual hunt for new talents.
Also read: Millennials, Gen-Z and the Future of Work: Building Intellectual Job Roles in the ‘Virtual Age’
What kind of changes is the younger workforce looking to bring?
If you were under the impression that your Millennial employees get easily distracted, constantly flipping between social media and texts, wait until you witness the work of Gen Z members! The present corporate culture simply does not make sense to much of the younger workforce. Strict dress code? In-person meetings? Fines for being a few minutes late? The younger workforce does not deem such things important and outrightly disregards any organizational rules.
Not only do they want more flexible work timings, feeling that it’s futile to adhere to the 9-to-5 schedule when they can get things done without being tied to a desk, but they also want organizations to leverage technology and embrace Zoom, Microsoft Teams, and other forms of telecommuting. This generation wants big responsibilities with hefty pay packages, with the added expectation of a quick promotion on their terms, regardless of the quality of their performance. Not to forget Fridays at 5 and post-work jamming sessions have become the norm.
The younger workforce is no longer content with fixed working hours, annual bonuses, pension plans, and paid leaves. They are more convinced by intangible perks like casual work culture, lack of bureaucracy and micromanagement, cool office spaces, sabbaticals, and permission to bring toddlers and pets to work. This attitude is having a profound impact on the workplace.
The younger workforce is no longer content with fixed working hours, annual bonuses, pension plans, and paid leaves. They are more convinced by intangible perks like casual work culture, lack of bureaucracy and micromanagement, cool office spaces, sabbaticals, and permission to bring toddlers and pets to work. This attitude is having a profound impact on the workplace.
How are employers gratifying their employees’ needs?
Employees are no longer willing to associate themselves with companies that take the least amount of effort towards their well-being. It’s a known fact that when employee needs are met, they develop a positive outlook toward the organizational goals. Realizing this, some companies have already gravitated towards implementing liberal policies, some of which include:
A positive work environment through open communication, healthy work relationships, and equal work opportunities.
A hybrid work model facilitates employees to work when and where they are productive.
Options of different shifts to accommodate the convenience of employees.
A five-day workweek policy to promote work-life balance.
Unlimited paid vacation system to give employees some time away from work.
Day-care facilities for kids and pets to avoid employee absenteeism and turnover.
In some of the above-mentioned ways or the other, companies are falling in line with employees’ demands with an expectation of better outcomes. However, as the workplace changes continue to evolve day after day, business leaders are also reconsidering “how they get work done” and “lead people”, especially the younger workforce, to drive work and value, and not leisure!
Also read: 5 Ways Recruitment Technology Can Enhance Employer Branding
Here’s how meeting employee needs has brought about a positive wave of change:
- Better employee satisfaction and enjoyment of work – more time spent focusing on the job and less time spent complaining.
- Lesser negative effects such as stress and absenteeism.
- Improved individual productivity – supports organizational performance and promotes key performance indicators.
- Increased retention of high-performing employees – lower employee turnover.
- High loyalty towards the employers.
- More willingness to embrace new processes and techniques.
Ultimately, finding the balance between satisfying business and employee needs and getting the work done is critical to long-term success. Once organizations get it right, it creates mutual benefits: employees get to do their best work and businesses get to deliver the best to their clients. It’s a win-win situation!