Are Millennials The Future Of Your Marketplace?

Millennials are changing the work environment and the marketplace must change to reflect a younger generation. Employers want to understand the way younger generations are using technology and their personal interests to change the future of their industry. As more Millennials and upcoming generations impact their workplace, employers must take measures to maintain their interest.

Technological Advances For Greater Efficiency

A key way that Millennials and upcoming generations change the marketplace and the work environment is their ability to use technology. Younger Millennials and Generation Z spent their formative years using technology, social media and online tools to accomplish their goals and get through their education.

Due to their understanding of technology and their long-term use of modern tools, younger generations are actively developing ways to improve efficiency in the workplace. They are willing to experiment with new technology and updated tools to enhance their performance. As a result, Millennial workers are speeding up productivity in the workplace.

The Willingness To Change Careers And Jobs

Although Millennials in the marketplace are actively seeking ways to improve efficiency and productivity, they are also willing to change their jobs and careers. When a career feels stagnant, they make use of their networking and social media skills to move into a new career or job opportunity.

Employers who want to make the most of their younger workers will need to take measures to ensure their engagement in the workplace. Millennials look for new career opportunities when they are not engaged in their work or feel that they are not getting the perks or salary they expect for their educational level and experience. The generation keeps up with market rates and understands their value to a company, so they are willing to change their job when the company does not value their abilities.

Related: How to Instill Trust in Your Marketplace Platform

Open Communication With Management

While the generation is often willing to change their career, they also take the time to communicate with their management or an employer before making changes. Millennials want feedback from their management and are willing to ask questions and take the time to speak up when they are not happy with their current situation.

When working with Millennials in the marketplace, an employer or management team must understand that they want to work with a mentor. They understand the value of mentors and want access to greater communication with their employer or upper management.

An employer can make the most of their Millennial employees by listening to their concerns and keeping them up-to-date with regular feedback. Consider monthly reviews rather than annual reviews of their work or set up a system to mentor younger employees so they have consistent feedback rather than a basic direction for their work. Millennials are more likely to report job satisfaction when they are in communication with an employer and have feedback to make improvements in their performance. They are also more likely to stay in a career when employers are willing to listen and address concerns before they feel stagnant or limited in their opportunities.

Stability And Growth

Due to the Great Recession and it’s impact on Millennials, stability plays a key role in their career goals. Millennials are willing to stay in a career with a stable future and potential growth because they are aware of the possibilities that may complicate their plans.

Related: The Importance of Building Company Culture

A job or career without any potential for growth and upward mobility will not maintain the interest of many Millennials. They may also feel uncomfortable with a job that seems unstable. Although Millennials may start out in a temporary position, they will move on quickly if they are not able to see the possibility of a full-time position in their future. Younger generations want the possibility of growth in their career and they will grow out of the company if they see that their opportunities are limited or stagnating.

Working with Millennials in the marketplace differs from previous generations. They are more efficient due to their use of modern technology and they use advanced tools to accomplish tasks. The challenge is maintaining a talented individual because Millennials are more likely to grow out of a company or consider other positions when their career does not offer the perks, stability and growth they want for their future. By understanding the generation and taking time to communicate with younger workers, an employer will notice positive changes in the work environment.

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