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I’m working on a business Discussion and need an explanation to help me learn.
Millennials are vital to the workforce in my opinion. As new technology continues to emerge, these employees are the ones that have proven to easily adapt to the change in processes and new systems, while boomers and more traditional employees resist change. According to Pew Research Center analysis of U.S. Census Bureau data, millennials make up the largest generation in the workforce which amounts to about 35% as of 2017. Alton (2017) also states that millennials are getting pickier about the companies they work for and looking deeper into the values and missions of the companies they not only work for, by buy from. They are driving the supply and demand in both the commercial industry and workforce, which can be a pain point for some who feel that getting paid for a job you do should be enough. Corporate culture has been around since the 1970s, but with culture being seen as more of a buzzword in recent years, it was something that established companies did not necessarily pay much attention to years ago. Culture is organically formed through hard work and quality products. Now, companies have to cater much more than just pay for a specific role as millennial candidates look at political views, charitable donations, intangible benefits, and perks, as well as work-life balance. “On average, millennials would be willing to give up $7,600 in salary every year to work at a job that provided a better environment for them,” (Alton, 2017). So paying more may not be sufficient enough to get great candidates, a company may need to change their processes and community involvement to see more interested candidates and broaden their talent pool. Along the same lines, companies have to think of their customers’ buying habits as well. “70 percent of millennials are willing to spend more with brands that support causes they care about,” (Alton, 2017). This can shift a companies mission, values, and way they do business which not all employees will buy into because they do not understand the need to know the why. In my experience and as a millennial myself, I have learned that we ask “why” a lot more instead of just doing what we’re told, which can be seen as difficult to work with. I think it also has pushed the boundaries of improving the way we do business in a lot of areas because we are asking why more and offering suggestions of other ways to automate and do things to be more efficient.
Resources
Alton, L. (2017). How Millennials are Reshaping What’s Important in Corporate Culture. Forbes. https://www.forbes.com/sites/larryalton/2017/06/20/how-millennials-are-reshaping-whats-important-in-corporate-culture/?sh=315354992dfb
Schein E. H., & Schein P. (2016). Organizational Culture and Leadership. [VitalSource Bookshelf]. Retrieved from https://bookshelf.vitalsource.com/#/books/9781119212058/
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