Millennials Effect on the Risk Management and Analytics Workforce
With an estimated 40 million millennials in the workforce, there is no doubt that this generation of job seekers is causing a profound shift in the way that companies attract and retain talent. While millennials are often viewed as a narcissistic generation, they are also viewed as more educated and diverse than previous generations. Now that they are the largest percentage of the U.S. workforce, attention needs to be paid to how they are changing the workforce.
Importance of Technology – The millennial’s world is a digital one, and this includes the workplace. According to an article from PWC, 59% of those questioned, said that state of the art technology provided to them by their employer is important to them when considering a job opportunity. At the same time, over half of them continue to use their own technology at work and 78% feel that this access makes them more productive. Companies will often respond to these facts by using technology as part of a benefits package and encouraging work related use of social media.
Culture of the Workplace – It isn’t necessary to have a pool table and pinball machine at the workplace to appeal to millennials (although it might not hurt). This generation looks for a work culture that makes them WANT to come to work every day. They want to be able to pursue their own ideas, feel valued, and reap a variety of perks. They expect to be listened to and knowing their employer values what they have to say.
Opportunity for Collaboration – This generation grew up playing team sports and completing group projects in school. It is no surprise that they continue to desire a collaborative setting in the workplace. It is important for this group to be able to give input and receive feedback on projects they work on. Most importantly, they want to know that their ideas are heard and make a difference.
Once risk management and analytics services providers have a better understanding of the newest members of the workforce, they will be better equipped to recruit, employ, and retain them. Companies need to take these changing attitudes and mindsets into consideration and develop an environment that fosters success.
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