Millennial - The Driving Force Towards Altering Workforce Demographics

The millennial generation is the new face of workforce demographics in current corporate structure. The people belonging to this generation have a different outlook towards employment than generation x or the baby boomers. While baby boomers were more in to organizational structure and used to put in long hours of work, millennial generation are skilled and technologically inclined. They are confident in performance and have the ability to multi task with efficiency. They prefer working in teams and seek challenging tasks in their employment. They have a tendency to achieve something much higher in career path yet give importance to work life balance. They are set to take over the reins from baby boomers who will be retiring in the coming years. The four most important characteristics that this generation looks forward in organizational structure are as follows.

• Digitization is one of the primary factors which drive the interest towards an employment opportunity for millennial. The technological innovations for carrying out several organizational processes are very common now days. This helps in effective and error free management of such processes which attracts this generation. Also it influences the working style by removing the restriction to work at office desk always.
• Transparent flow of communication and information from time to time along with open forums for discussion and feedback is greatly sought after by millennial. They think that organizations with clear and constant flow of information tend to make smarter strategic decisions and achieve growth in coming years.
• Flexibility is a key element of employment for this generation. As stated earlier, work life balance is important for them. Flexibility includes variable work timings and ability to work at different locations are to name a few. It also depicts the working environment demographics of the company. The fluid organizations better server customers and are advanced in strategic planning and execution.
• Time efficiency matters the most for millennial. Since they have access to huge information and resources within a quick span of time, they need similar processes within the organization. The streamlined processes for back end jobs with technology touch are sought after by them.

So, it is essential for the companies and recruitment agencies to follow certain processes to manage millennial.

• It is essential to have a structure in place for team and leadership management. Daily tasks require end of day updates. Similarly weekly and monthly sessions regarding assignment development and knowledge transfer sessions are important to encourage millennial.
• Providing required leadership and guidance at regular intervals during the course of employment is crucial to keep this generation stay motivated towards work.
• Since, this generation believes in team work, so it is better to encourage interaction of this generation within teams to channelize the team work spirit for better productivity.

There should be a well structured system for sharing thoughts and feedback regarding the work and its related affairs. Since millennial generation seek recognition for their work, appreciations and reward systems are essential in this regard.