35% of today's workforce are millennials (estimated 2/3 by 2020) or people born between the early 1980's and early 2,000's. We know that this is the most connected and tech savvy generation to come into the workplace to date, with the average person having access to 7 electronic devices and for the first time ever, there are more gadgets in the world than there are people. But what else does this mean?
-We are living amongst the most socially aware generation ever-
With access to so much information at our fingertips, we have tons of insight into the worlds biggest problems. You can't scroll through your news feed without seeing a new social movement starting. As a society, we realize this and now respect and support organizations that are doing something to contribute - social responsibility. Increasingly, Millennials are supporting brands that support great causes. In fact, 72% say they would recommend a brand that supports a good cause and over 50% of them buy a product that supports a good cause every month.
But, the importance doesn't only pertain to B2C organizations. Why? These same consumers are in your building! Millennials are also one of the most adamant generations to desire purpose and meaning in the work they do.
-All generations have craved purpose and meaning in the work they do, the only difference is millennials are willing to take a stand for it-
Why else do we see a phenomenal rate of job hopping from Millennials? Millennials work for purpose, not a paycheck. They're not going to work for a company that doesn't allow them to be a part of something bigger.
For this reason, it's never been more important to have a consistent community/employee engagement strategy. Why? When you are exposed to so many of the worlds problems, it's hard to sit around and do nothing about it. That's not the millennial attitude.
Here's 3 reasons why you may want to get serious about community engagement.
1. Engaged employees, better performance
In a recent Deloitte survey, corporate employees reported their interaction with the community as their second highest workplace importance when it comes to being engaged in their work. Ranked second only to professional development. Gallup found that, "engaged employees are 21% more productive and 22% more profitable." What does this mean? Corporations can earn Billions of dollars more by engaging their employees.
2. Attracting Top Talent
Millennials will make up almost 2/3 of the workforce by 2020 (Deloitte). 61% of Millennials consider a company's engagement with the community when making a job decision (Gallup).
3. Improved Retention
2/3 of corporate employees plan to leave their jobs by 2020 (Deloitte). Engaged employees are 60% less likely to leave their jobs (Gallup).
Technology has enabled the Millennial generation to be the most socially aware generation ever. Corporations, more than ever are focusing on engaging their employees with purposeful work and causes they can support. Corporations that do make the transition pose a competitive advantage in the area of people - the most valuable asset companies have.
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Text Copyright © 2016 Jeff Geier — All Rights Reserved
Jeff Geier is an entrepreneur and thought leader in the millennial community. He is interested in working with organizations to bring passion and purpose to workplaces.