Flexibility, autonomy and freedom define the future of the workplace, says Jörg Castor of the Fraunhofer Institute in Stuttgart, Germany. In front of business leaders, owners and managers from Luxembourg on the occasion of a LuxReal event at 39 JFK, the labour scientist gave insights into people management and how businesses can adapt their workplace for the Millennial generation.
Flexibility, autonomy and freedom define the future of the workplace, says Jörg Castor of the Fraunhofer Institute in Stuttgart, Germany. In front of business leaders, owners and managers from Luxembourg on the occasion of a LuxReal event at 39 JFK, the labour scientist gave insights into people management and how businesses can adapt their workplace for the Millennial generation.Do you see yourself as part of a collective and bow to discipline? Do you prefer face-to-face communication? Do you follow a lifelong loyalty “decision for life” approach? Do you strictly separate work and private life? Do you believe in hierarchies?
If so, you’re probably of the very old school. You may be part of the baby boomer generation – a generation with values and a general understanding of work quite different from that of modern-day.
Millennial Generation: Self-confident and demanding
By contrast, the generation of today is the Millennial Generation (also known as the Generation Y), including birth years from the early 1980s to the late 1990s. It is expected that 50 % of all workplaces will be occupied by “Gen Y” in 2020. It goes accordingly without saying that as employer, you will have to listen to them – whether you like it or not.
The Millennials are very well educated and characterized by high affinity to technology. They ache for personal fulfillment rather than for status or prestige. Instead of subordinating everything to their job, they demand principled “reasons” for dedicating their time and talent. Don’t get me wrong: Generation Y is not lazy about working, not at all. They are willing to work as much as no generation before, however, in exchange for certain demands only. Generation Y, according to Castor, considers a good working environment, autonomy and the overall atmosphere at work the top factors making an employer attractive. Work is not any longer for a living only, but has a meaning. Solely a paycheck is not a meaning.
How to deal with Millenials?
During the course of his speech, Jörg Castor guided us into the right way to deal with the Millennials. What do employers have to consider?
- Flex time: Employers should strive for flexibilization of work and fostering of self-organizing capabilities. In practical terms, employers should arrange for variable working hours with short-term buffers, variable account models for surplus working hours, variable compensation models and so on. This is to enable employees to accommodate family life and professional life.
- Corporate Life: Generation Y is willing to work a lot, and willing to eliminate old-age boundaries between family hours and professional hours. This being the case, extended services and amenities should be offered from companies to support the well-being. This could include health services, sports (e.g. corporate gym), social events and get togethers.
- Leadership: As already mentioned, a Millennial is more focused on meaning rather than high pay. Accordingly, Generation Y assertively seeks more responsibility and involvement. We should implement leadership models which encourage and foster performance. Employees should be allowed to participate in decision making processes.
- Mobile work: Castor explained that only 25% of employees do not work anywhere except the main workplace. Many employees work, at least occasionally, at home, in trains, in coffees or other places. We should make use of mobile devices and internet-based collaboration tools to optimize networking of teams accordingly. People do no longer come to work, but the work comes to people.
- Multi-space: Employers should provide for task-matching workplaces to ensure efficient handing of changing tasks and projects. At 39 JFK, KPMG’s new home, various spaces are offered: Individual offices, open space offices for both flexible teamwork, meeting- and project rooms, coffee corners and more. Functional non-conventional workspaces are the thing.
- Learning and Development: One of the top things Gen Y seeks from employers is leaning and development. Young professionals love learning, and they know about the necessity of life-long learning. None will be satisfied without opportunities to learn and grow. And this is not a one-way road – employers benefit, too, by having a highly skilled workforce to move businesses forward.
“Why should I care?” you may wonder. Because Generation Y will be running the show in the next few decades, and successfully adapting to the generational shift will be key to the survival of your business. You may be certain that Millennials will serve your interests if you pay attention to their needs and wants.
