Much has been said about how Millennials behave and the characteristics that define them. However, for organizations and talent managers it is more profitable to adapt their cultures by aiming at integration and multigenerational development.
Therefore, based on the Deloitte study, The Deloitte Global Millennial Survey 2019, we will now describe the three key characteristics to understand what new generations of organizational cultures expect:
1- Flexibility. With the rise of the freelance economy, it is evident that Millennials seek more than just balance between their work and personal lives. They manage their time and ways of work more proactively. Therefore, organizations have understood that having a flexible work environment is almost a requirement to attract (and retain) young adults.
2- Social commitment. According to the report’s data, 70% think that their company only cares about financial results. The young people of Generations Y and Z have grown tired of organizations that don’t worry about their employees and the social or environmental impact they may have.
3- Development. The young adults of these generations know that another big change in the workforce is approaching and they feel uncertain about it. According to this report, 43% of young people surveyed believe that their leaders and organizations should train them to ensure the development of the skills required for the arrival of Industry 4.0. However, only 38% believe that their organizations are helping them with this.
Risk for more traditional companies
In keeping with this data, the young adults of this era, who in a few years will constitute the majority of the workforce, are dissatisfied with corporate cultures and, although organizations are already transforming themselves into adapting, it is no secret to anyone that there is much work to be done.