Adapt now and win: the secret sauce to talent
Recently, my business partner sent me a New York Times article titled, "Young People Are Going to Save Us All From Office Life." The premise of the article was that millennials and Gen Z employees want more flexibility then the traditional 9-5 or working from the office. The companies in Ohio poised to attract and retain the best talent are the ones thinking about the next generation of workers. It doesn't matter if you are a small manufacturer in Ashtabula or a Fortune 500 company — everyone is fighting to attract the best talent available.
Let's review why this is important. There are 70 million millennials and right behind them is Gen Z. This is a big and influential group of optimistic and self-assured up-and-comers. In the U.S. alone, there are 65 million of them and they are beginning to make their presence known in the workforce. By 2020, Generation Z is forecast to account for 40% of all consumers. Combined, millennials and Gen Zers will hold the keys to workplace success.
Changing times require a dynamic workplace strategy that adapts to different types of young and talented workers. Where do you begin?
First, both of these groups want to be trusted, especially with how they manage their time. If they need to go to the doctor on Tuesday at 11 a.m. or go to the beach on a beautiful, sunny day in June — let them! It's not your job to track their time; focus instead on their productivity. This is an important concept that diverges from the punching-the-time-clock era. We need to move away from equating time with work. We need to optimize time for productivity. The most important thing is that workers are doing what they are hired to do and that isn't necessarily sitting at a desk from 9-5 waiting for the day to end.
What are some strategies a company can implement to do that?
1. Make at least one day a week remote
Most companies are already allowing their workers to telecommute. A study by the office provider IWG indicated 70% of workers telecommuted at least one a day a week. A study by Indeed showed that 75% of workers had an improved work-life balance when their company had a telecommuting policy and 57% of workers felt they were more productive when they worked from home.
2. Culture appreciation
Growing up, people joked that my generation was the participation-trophy generation. While you don't need to necessarily reward workers for showing up, you do need to create a culture that celebrates successes, both small and large wins. A Harvard Business School study found that "people are more creative and productive when their inner work lives are positive — when they feel happy, are intrinsically motivated by the work itself and have positive perceptions of their colleagues and the organization." In other words, creating a culture that celebrates achievement and success will lead to — you guessed it — a more successful organization.
3. Bring back company retreats
Retreats no longer need to be Outward Bound-like. Simple company retreats are a fantastic way for different people from different areas of the business to interact and get to meet each other. It's an opportunity to learn about areas of the business they aren't normally exposed to and encourage a free exchange of ideas. Millennials and Gen Zers respond well to being more relaxed simply because they aren't in the office and can be themselves.
These are just some ways you can create a work environment where millennials and Gen Zs are eager to work for your company. Millennials and Gen Z want to be part of a company they are proud of. They want to post on Instagram celebrating their job promotion or how their company is paying for that trip to Hawaii as part of the company retreat. We used to live in silos where we'd go to work and we'd go home. The line has blurred, especially with the increase of digital tools such as email and social media.
Do you want an employee complaining on Glassdoor or Twitter about your company? Creating environments that inspire your employees to be proud of where they work is one of the best achievements a manager can accomplish. These emerging generations are the future of work. By customizing our workplaces now, we can attract and retain the best among them and position our companies to succeed.