Most of the millennials are now safely engulfed in the working world. In fact, millennials make up a majority of the US workforce and by 2020, Gen Y is expected to form 50% of the global share.
If you aren’t aware, millennials have had their lion’s share of a bad reputation since they have come of age. Considered as the ‘happy-go-lucky’ generation, oftentimes they are linked with indolent and risk-averse attitudes. Although this is simply a misconception, this unfavourable status keeps on sticking.
However, there are a ton of perks of having millennials in the workplace. Let’s examine a few:
A company’s return on investment (ROI) is really important in every business. These days, millennials play an essential role in providing a higher ROI in the company where they are working. They have these undeniable skills and knowledge that are ideal for creating new business strategies and ways to ensure that the business can have more of its success in the field.
What’s more, growing up with technology means that millennials are tech savvy by default and can pick up on new technologies faster. Need to understand how Infusionsoft works? Give them a couple days with a manual. The strangely quick technology uptake-rate of this generation is something, which can’t be overlooked.
Another advantage of millennials is that they are intrinsically driven and motivated to do a great job. They want to learn and grow and are self-motivated to succeed, opposed to being motivated by a paycheque or job perks (although perks are high on their list when looking for employment). What’s more, they are a generation that is always looking to improve.
Successful millennials in business have their current career because of creativity. In fact, Gen-Y has been dubbed the most creative generation yet! When millennials use their creativity in the workplace, they offer outside-of-the-box thinking and fresh perspectives that are already creating a shift in workplace culture. They have big ideas that they want to see come to life and aren’t afraid to share their opinions.
Oftentimes, payroll is the priciest overhead costs that a company takes on. Gen-Yers typically have less work experience since they’ve just entered the employment world. If that’s the case, hiring a young employee or anyone who doesn’t have enough experience is a wise decision. Definitely, the new hire will understandably start a lower wage than more experienced employees will who perform the same job, and that simply means that a lower salary implies lower tax contributions and wage expenses.
What’s more, millennials aren’t motivated by money like past generations and will be more focused on factors such as company culture, work space, employee perks and the work itself.
They don’t just work out of necessity, making it one of the advantages of millennials. In fact, 65% of millennials say the opportunity for personal development is the most influential factor in a job. They are naturally driven to succeed. They also care about the bigger picture and making a difference in the world, so they choose careers that give them purpose and the opportunity to give back.
Alexander Alison is an online content writer that focuses on employment in Cebu and to the Top Cities in the Philippines. His partnership with CeBuJobs.PH helps him excel on the niche he loves. Follow him on Facebook and Twitter.