According to the HR trade magazine HRD Connect, the issue of millennials in the workforce has yet again managed to make headlines.
It appears there is a disconnect between the general workforce and millennials; constantly leaving many wondering how to ensure that this new generation are fully engaged within a workplace.
According to a survey conducted by Deloitte this year, more than 10,000 millennials across 26 countries give organisations a ’cause for concern’.
Why is this, you ask?
Deloitte’s studies tell us that there has been a negative shift in millennials’ perceptions of businesses. Over half of the millennials that were surveyed feel as though businesses do not behave ethically and that business leaders are not committed to helping improve society. There seems to be a mismatch between what millennials believe businesses should be responsible for and what business leaders’ actual priorities are.
How can we keep millennials loyal and productive in the workplace?
It appears “diversity and flexibility are key to loyalty”.
But how do we keep millennials loyal considering almost half (43%) of the millennials surveyed envision leaving their jobs within two years?
Financial rewards, workplace culture and diversity encourage loyalty and productivity from millennials. However, business leaders may have a harder time satisfying Gen Z, as they express even less loyalty, with 61% saying they would leave within two years if given the choice.
Deloitte also let it be known that millennials and Gen z do not feel as if they adequately prepared for Industry 4.0. For those reading this, unsure of what Industry 4.0 is, it is an industrial revolution which is transforming economies, jobs and society itself. “Many physical and digital technologies are combining through analytics, artificial intelligence, cognitive technologies and the Internet of Things (IoT) to create digital enterprises that are both interconnected and capable of more informed decision-making.” Necessary precautions need to be put in place to ensure the newer generations are given the preparation needed, to enable them to thrive in Industry 4.0.
Are you going to give your young staff the preparation they desire?