The generational gap has never seemed as wide as it has become today. Ranging from juniors in firms to having nearly two decades of established experience, millennials are the most influential and important demographic when it comes to the workforce. By 2020, 50% of the workforce will be made up of millennials, so it’s important that the values they hold close are amplified by their employers. These can fall into two main categories: concerns about the environment and protections at work.
The environment – thankfully – is now a key talking point. With members of Gen Z such as influential Greta Thunberg and the school strike for climate initiative hot on their heels, millennials are keen to show that they are also concerned about the future of the planet. As a result, businesses that can showcase green credentials are going to be viewed more favorably by millennials. This doesn’t just extend to the business sector, but also to how brands handle being green in day to day business life. 70% of millennials surveyed claimed they would opt to work in an environmentally friendly company, with 75% suggesting that they would take a pay cut to work at a sustainable firm.
This passion for the environment could be a good way for businesses not only to benefit the greater good and to improve their corporate social responsibility but also to attract the millennial workforce and keep these employees happy. This is important especially considering how the Baby Boomer generation is on its way to full retirement, and the roles need filling. Simple things such as recycling, reducing waste, and operating on renewable energy where possible could help attract millennials to a company. Such an approach shows that, at the very least, you are committed to future changes.
In a wider context, millennials are reportedly also more interested in benefits over perks. While free drinks and fruit might be enticing, millennials want to know that they have protections in place as employees – such as health and dental care, childcare benefits, and progression within the business and their role. Looking at a company, millennials are also concerned with best practices in business.
They understand how companies that don’t adhere to such practices could be slapped with hefty fines and land in disrepute. As the information on general liability insurance quotes at next-insurance.com proves, even the smallest oversight in a professional environment can potentially lead to trouble, so ensuring the correct insurance is in place is important not just for the business to succeed, but for getting millennials on site. Work-life balance is also important for millennials, so offering a benefit that includes flexible working or enables them to not be boxed into a nine-to-five could also help attract them. Add to this retirement planning and healthcare, and your business will be well-suited to attract millennials to the workforce.
How businesses handle environmental issues is incredibly important. Throw in the issue of protections at work, and you have the perfect recipe for attracting millennial recruits to your company. As we move towards seriously combatting the climate crisis, more people currently aged between 23 and 36 will be influential in where they choose to work and which companies they choose to help improve through their labor.