Millennials are different from any other generation, and soon they’ll make up most of the workforce.
Employers have to adapt their business operations accordingly. Their differences from other generations might pose challenges for employers, but millennials also bring new characteristics and opinions that employers can integrate into their structure and culture to breed success.
According to The 2016 Deloitte Millennial Survey, employees who share their organization’s values are more likely to remain with the employer. So, how does an employer ensure it introduces values that are important to millennials? A good starting point is to look at how millennials conduct their lives outside of work and to integrate four values into your business:
From the ingredients in their food to their health care delivery, millennials crave transparency. Though employers must be careful not to share sensitive information, it’s important that employees understand the internal workings of the company and not feel that they’re blindsided by a company announcement or news.
2. Make work an experience.
According to a study by Harrison Group, 72 percent of millennials would rather spend money on experiences than on material things. This is an important takeaway for employers as company culture becomes more and more important to employee performance and retention. By emphasizing experiences, employers can make the company’s environment an enjoyable place for employees to return each morning.
3. Drive collaboration.
Outside the office, millennials rely on social decision-making. According to recent Boston Consulting Group data, millennials are more likely than other generations to shop, dine and travel in groups, whether it be with organized interest groups or informal friend/family groups. This collaborative tendency also manifests itself in the workplace. By encouraging collaboration, employers can ensure new ideas will be brought to the table and projects will be executed comprehensively.
4. Provide opportunities for development.
Though often be perceived as self-absorbed, millennials care about personal development. Nearly all millennials ( 94 percent) said they made commitments to personal improvement in 2015; that’s 10 percentage points higher than Baby Boomers and 13 higher than Generation Xers. When it comes to their jobs, they want that same opportunity.
A recent survey by Gallup says 87 percent of millennials believe development is important. When employers provide opportunities for professional development, millennials will seize them and will encourage others to do the same. That can only be a boon to the company.
Millennials might provide new challenges for employers, but there are some things managers can learn from this new generation of workers. By being open to what millennials want both professionally and personally, employers can find success in implementing new facets to their business operations.
Do you have another value that you would you add to this list? Please offer your thoughts in the comments section.
A version of this article originally appeared on TLNT.