Though they currently make up 40% of the U.S. labor force, a report released by Cushman & Wakefield’s Global Business Consulting says that Millennials are on track to hit 75% by 2025. The consulting firm’s report, “Facing the Millennial Wave,” details how workers between the ages of 18 and 30 will affect business strategy in the years to come.
Composed of research from several publications and institutions, the report finds that older generations adapt to the customs of the workplace, but millennials expect the workplace to adapt to their preferences. By not suiting millennials’ needs, your company could miss out on productivity.
To retain millennial workers, the report stresses the importance of making them feel valued, teaching them new skills, and creating a culture that is suited to their wants and needs. “Millennials expect the workplace to align with their personal vision for what the company stands for and what they feel they need to be productive and engaged at work,” the report says.
95% "I work harder when I understand how my work contributes to the company's mission."
95% "I believe it's important to be constantly learning."
95% "Culture is an important element of my dream job."
95% "I want to emerge as a leader across the next five years."