Many college graduates and other young individuals who are
searching for employment end up acquiring jobs in the business field because of
the wide range of opportunities available. According to a study done in 2010 by
Knoll, Inc., the number of these young workers will largely impact the business
world. Knoll states, “by the end of the
decade, the balance in the U.S. will flip from approximately 50% baby boomers
and 25% Generation Y workers to 25% baby boomers and 50% Generation Y workers”
(CNN). What does this transition entail for the future? Although many think
that these changes won’t adversely affect the company, these believers couldn’t
be more wrong. There are several attributes
that set apart different generations, which are a direct reflection of the time
periods that they grew up in. These age differences ultimately lead to business
challenges that can negatively affect the company if not dealt with in the
proper manner.
According to the comparison chart, specific factors between
the different time periods are advancing and gradually changing. Members of
each generation have similar expectations in the workplace but different ways
and methods of reaching certain goals due to their unique characteristics. Individuals
who are currently the largest group entering the workforce and were born among
the years of Generation Y are also known as millennials. Businesses need to
embrace the differences among Generation Y employees and make appropriate
changes in order to accommodate their employees with a comfortable working
environment and the best tools possible for them to reach their maximum
potential.
Businesses Must Adapt
and Become More Flexible to Satisfy Millennials
Companies need to recognize the needs of Generation Y and
make changes to accommodate and satisfy these requests. Alterations in the
business sector should happen as soon as possible so that employers can produce
a millennial-friendly working environment. One of the most notable qualities
that make millennials desirable as employees is their familiarity with
technologies and their expertise in all things computer related. Growing up
alongside the technology boom, Generation Y is at an advantage because they
have adapted to learning almost everything about different technological devices.
This is a major benefit for them because recently, businesses are utilizing and
depending on multiple types of technology on a daily basis to be successful.
Other characteristics of millennials include that they desire flexibility,
appreciate feedback, are self-directed, hard-workers, and they are more
comfortable with diversity in the workplace. Progyan Basu, an accounting
professor at the University of Maryland, believes that there are indeed many
different, yet beneficial characteristics that millennials bring to the table.
Basu teaches and
interacts with hundreds of millennials each day so he is personally familiar
with the multitude of talents that they possess. Every once in a while, Basu
even asks the class for help with working his iPhone because he knows we are so
proficient when it comes to technology. It is good to know that older
generations can see the potential that younger generations have. The
versatility of Generation Y is one of the other key components that will
contribute to the success that they will provide for their employers. They are
willing to work outside of the office because they want to do whatever it takes
to achieve the goals they previously set by the deadline they made. While millennials
don’t mind putting in the proper hours necessary to achieve their goals, they
also are not fans of working from nine to five every day.
Technology is the Key
to Maximizing Success and Happiness
Businesses are heavily relying on computers and other forms
of technology for their daily operations because they can speed up almost all
processes in an advantageous manner.
This fellow millennial believes that our ability to operate
technology efficiently is a major asset that employers will recognize and
cherish. The use of technological devices in the workplace will help and
satisfy employers, employees, and the overall success businesses achieve. Not
only are goals achieved quicker, Generation Y employees will be able to receive
the flexibility they desire because technology makes it possible for them to
work from home or other places other than the office. As long as employers
embrace all components of millennials, all
of the time and effort spent in accommodating their talents will eventually be
completely worth it.
Now more than ever, millennials are
being selective when it comes to selecting what company they plan to work for.
For Generation Y, happiness is a deciding factor when it comes to choosing a
path for their future. To be content, this group desires a particular balance between
work and personal happiness as well as a heavy dependency on technology. Companies
definitely need to look into increasing flexibility, social interaction, and
innovative environments so that they are sure to satisfy the needs of their current
and future millennial employees.
