Businesses have always competed to attract the best talent and recruit the best teams, something we looked at in this article on our blog last week.
This competition is only going to become more fierce, especially as more and more
millennials fill the workforce. Loosely
defined as anyone born between 1980 and 2000, large numbers of millennials are now flooding the workforce and will shape the way the world of work operates for years to come.
According to a study from PricewaterhouseCoopers (PwC), by 2020 millennials will form more than 50% of the workforce, bringing with them new attitudes towards work, innate knowledge of new technologies and a realigned set of career aspirations.
This will bring new challenges to global business, as the PwC study states: “It’s clear that millennials will be a powerful generation of workers and that those with the right skills will be in high demand. They may be able to command not only creative reward packages by today’s standards, but also influence the way they work and where and how they operate in the workplace. They may also represent one of the biggest challenges that many organisations will face.”
That’s why it’s fundamental for businesses to create employee-centric cultures where the needs of employees are not only met but seen as the foundation on which the business is built. It’s the businesses doing this who will see the most success because they will have a higher percentage of engaged employees who will perform at a higher level and give them a competitive advantage.
So what is it that employees really want, and are going to want more of, in the future?
Every year the shift to employee-centric businesses becomes greater and those who fail to embrace will be the same businesses who constantly lose their best talent while failing to attract the new stars.
Create an environment where your employees needs are met and in doing so you’ll end up delivering a better product, a better level of service and a more successful business.