The shift in the workplace from Baby Boomers and Gen X is real; over 46% of the workforce in the USA is made up of Gen Z and Millennials. This shift may concern the Baby boomer and Gen X as we continue to move deeper into this change in the workforce. The good news is that Gen Z and Millennials want similar things to prior generations. The only exception is there is a difference in their priorities.

It is essential for today’s leaders to meet the needs of the new workforce, both those already in your company and those who will be part of your company in the near future.

There are many comments and beliefs that Gen Z and Millennials have a different “style” and “expectations.” However, Millennials and Gen Z workers look for organisations that value their physical and emotional well-being. Arguably, all generations may require this more than anything else; the difference is they may not have been as vocal about it as their younger counterparts.

Employee well-being should be more than a nice-to-do. Not paying attention to employee well-being could cost your business due to burnout, which will impact your productivity and bottom line.

Coaching and mentoring is an essential part of the younger generations expectations. Leaders need to encourage their managers to include coaching and feedback skills with their team members and peers. This will assist in forming better relationships as your team will have deepened trust and engagement with each other.

Another important factor is diversity, equity, and inclusion (DEI), it is not a “concept” to this generation of employees, it is the way the world has been their entire lives. Therefore, Gen Z and younger Millennials want leaders who support a diverse and inclusive workplace. To not negatively impact the organisation’s productivity, leaders should actively cultivate an environment of individualised respect. 

Here is some additional information you should know, Millennials are more likely to switch jobs than other generations in the workplace. These young leaders are looking for well-being, ethical leadership, diversity and inclusion, and transparency in an organisation. Other factors such as lack of growth opportunities and limited training and development also impact their willingness to move on.

Millennials want their job to be their life. They want to work in a culture that reflects their values, an organisation that values their contribution, and gives them the chance to do what they do best every day; if not, they are willing to walk away. 

A recent study conducted by Gallup, “How Millennials Want to Work and Live,” found that 90% of employees reported that an important factor when looking for a new job is that a company must offer their team training and development opportunities to upskill them. 91% of millennials said they switched to another organisation because they did not see growth opportunities in their current organisation.

Organisations need to adjust their culture to address the new reality, here are a few tips. 

This generation is looking for fair pay for work that they perceive as meaningful and purpose-driven. Organisations with a sound organisational culture that communicate their vision and purpose will be more appealing than organisations that focus on compensation alone.

Millennials want development opportunities rather than perks, the opportunity to develop as leaders, showing that they are valued. Organisations need to look at how they support the development and growth of their Millennials while also re-training current management to contribute to the development of this generation. Organisations that don’t highly engage their Millennial workforce and do not allow them to develop as leaders will continue to see high staff turnover and disengagement.

Millennials and Gen Z want to work with people who will help them develop and advance their careers instead of control and command performance. This generation, therefore, needs their leaders and managers to be coaches, not bosses! Organisations need a method of asking and offering real-time feedback about company values and vision. Don’t wait for performance reviews or annual reviews to give feedback. Your staff will be more engaged when provided with frequent and consistent communication and have ongoing conversations with you about their performance. 

As your  workplace changes you need to stay  ahead of your game, remember great organisations are created by great teams with great leaders.

To learn more about the development and coaching needs of your team reach out.