Unconventional Work Approach By Millennials: Reshaping The Future Of The Workforce
The millennial generation, often known as Gen Y, has revolutionised the work culture. Unlike people in the 80s, millennials focus on job satisfaction, creativity and other aspects. The rapid advancement of technology across domains also influences the thought process and thereby, their approach to work culture.
Globally, Millennials account for almost 65 percent of the population between the ages of 25 and 35. In India, the millennial population is over 450 million, of which 300 million live in rural areas as per the Kantar IMRB report titled ‘The Rural Millennial Market’.
The aspirations in terms of jobs, however, have several commonalities, regardless of where the millennial is living. Most employees in this age group seek out tech-savvy work environments, flexible work schedules that allow for more creativity and are also focused on upskilling.
For employers, this attitude shift in what one wants out of a job or a career is crucial to note. It influences the future workforce, work cultures and operations.
Technology in The Workplace:
Most millennials are comfortable with technology, and its rapid pace. Most millennials expect technology to be a part of the workplace, and would prefer to transform and optimise their workload.
Organisations that follow traditional methods are often eschewed by millennial talent. Collaborating on the cloud, automated processes, and gamifying employee engagement activities are the norm for a millennial.
Implementing the right technology tools in the workplace helps keep the millennial workforce engaged and reduce attrition.
Flexibility:
According to a PwC study, the Millennial age is committed to personal and professional development, and this is their preferred first choice, with flexible working hours coming in second. Surprisingly, third place goes to monetary rewards.
Many organisations have implemented a reward system based on performance rather than the number of hours worked. Employees are also given the freedom to choose when and where they work.
The global transition to remote work, post-COVID, has also created the freedom that a regular office does not, while also allowing them to pursue their personal goals.
Reskilling & constant learning:
Technology, mobile apps, and innovative platforms were all part of millennials' upbringing. While learning is a constant process with millennials, they approach the process differently. Millennials believe in constant upskilling.
According to an EY-Nasscom research titled ‘Future of Jobs in India’, by 2022, 9 percent of the workforce will be taking up job roles that do not exist today. Furthermore, 37 percent of the current professionals will be offered job roles that will require upskilling themselves.
However, they do not prefer a barrage of information, and instead, take in bite-sized learning modules - set to their own pace. Bite-sized learning is a refined kind of e-Learning that has gained popularity in corporate training. Many companies and organisations are abandoning traditional training in favour of bite-size knowledge nuggets for their training programmes.
The presenting pattern has also changed, with an emphasis on using audio and visual communication. E-learning platforms and apps are now a common method to impart learning to employees. This helps the millennial employee set their pace to absorb information, in the format they find most comfortable.
Career Oriented:
Millennials choose organisations or job roles that have good growth potential, which can be enhanced through reskilling and constant learning.
The chance for advancement is, nevertheless, the most appealing feature for millennials. Even if they are not actively looking for a new career, it is obvious that many millennials are keeping an eye out for fresh options.
While this creates a challenge for organisations in terms of attrition, specific programs can be implemented to ensure that the millennial employee is engaged and satisfied with their role. It is critical to have effective HR reviews that focus not just on technical performance but the growth of the employee as well.
Organizations must create realistic goals for millennial employees. An ability to foster a sense of belonging in an organisation that provides a long-term relationship and opportunities for professional development
Conclusion
As a result of globalisation and the digital invasion, the market is loaded with opportunity. is full of enthusiasm and risk-takers, which has given the burgeoning start-up scene in India a boost. Millennials will surely be a powerful workforce generation, with individuals with the right skills in high demand. While developing appropriate employment policy, it is critical to understand aspirations.
(The views expressed in this article have been sole curated for BW People publication, authored by Sudhakar Balakrishnan, Group CEO, FirstMeridian)
