Understanding Your Next Generation of Employees

Financial well-being September 12, 2022 By First United Bank

According to Gallup, Gen Z and millennials now make up nearly half (46%) of the full-time workforce in the U.S. This is a workforce of employees who prioritize purpose in their work. They are resilient, resourceful, adaptable, and open to change in the workplace, and they value working for an organization that cares for its employees’ wellbeing, has ethical leadership, and is diverse and inclusive.

To recruit, retain and relate to this generation of employees, employers must integrate purpose into the workplace. An organization’s purpose is its aspirational reason for existing, the reason it exists beyond making a profit, and every purpose-driven organization believes in and acts on something bigger than the products and services it offers.

Learning how to bridge the gap through purpose in your organization will help you relate to your next generation of employees. The following tips will help as you navigate:

Build a Culture of Purpose

  • The next generation of employees believe that a job is more than just a source of income. They want their work to be meaningful, to know that they are making a difference, and they believe that a job is an opportunity to drive change while pursuing professional passions.
  • To satisfy their desire to make an impact, organizations must have a purpose that is worth committing to. Whether it is a socially responsible, human-centered, or ethical purpose when an organization knows what it stands for and is authentic in its method its employees will be motivated by fulfilling that purpose.

Rethink Recruitment

  • A purpose-driven organization with an engaged workforce can differentiate your organization in a competitive hiring market. Employees who are passionate about the work they do feel more satisfaction and this satisfaction can be leveraged as a powerful recruitment tool.
  • Consider hiring individuals who are passionate about making a difference in addition to hiring for skills and expertise. Often these individuals foster talents that will enable them to make an impact across the organization.

Nurture and Develop

  • Organizations must consider that the next generation of employees is not as impressed with job titles as previous generations. Instead, they value the importance of mentorships, continuous learning, innovation, flexibility, recognition, and defined career progression.
  • By nurturing these values in your organization and offering opportunities for growth and impact you can retain the right talent and develop future leaders while demonstrating long-term commitment and creating a sense of belonging among employees.

The next generation of employees is demanding organizational leadership take a new approach to how they operate, hire, and nurture their workforce. Purpose, passion, continual growth, and flexibility are key.

Becoming a more purposeful organization isn’t just good for the next generation of employees, it’s good for everyone. An organization operating through purpose while embracing the hopes and values of its employees will succeed in building a productive and innovative workplace culture through an engaged and skilled workforce that might just impact the world.

Want to learn more about employee retention and empowerment? You can explore articles on the topic of creating values-driven workplaces at FirstUnitedBank.com/SpendLifeWisely

By First United Bank