Millennials, also known as Generation Y, are entering the workplace in record numbers. They are idealistic, diverse, digitally-enabled, social and perhaps most importantly, ambitious. While these are all traits that can make a positive impact on your organization, it is a tall task to retain and motivate millennials for a variety of reasons. Their attitudes toward work and careers differ from previous generations as evidenced by the following:
- In a recent survey, millennials prioritized “meaningful work” over high pay.
- 1 in 3 millennials said “social media freedom” is a higher priority than salary.
- 70% of millennials are planning to change jobs once the economy improves.
These statistics along with the ones displayed in the infographic below, show that companies have to start (or continue) to alter their company culture in order to create an organizational community that is fit for millennials. Because while millennials have much to learn, they are becoming driving forces in their respective industries and organizations must adapt accordingly.
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These changes come not from external community management, but internal. Now more than ever, there is a need for a solid company culture that creates a collaborative environment that employees can thrive in – and that starts with those looking to build community.
To learn more about the who, how and why of leading Gen Y, take a look below at the infographic my team at MBA@UNC produced in partnership with the Young Entrepreneurs Council and their #FixYoungAmerica campaign.