Is Your Company Ready for the 2020 Workforce?

DJHP /Leaders
Yes, it’s just 2016. But is your company ready and planning for what’s rapidly coming? How many of us can honestly say our work is fun? Interesting, sure. Challenging, sometimes. Frustrating? More often than we’d like to admit. But fun, well, that can be a rarity — or it used to be, at least.
More and more companies are looking for innovative ways to make “fun” part of the corporate culture, and it has a little something to do with what’s being called the 2020 workforce.
By 2020, an estimated 86 million millennialswill be part of the workforce. That’s 40 percent of the total working population. And of this workforce, 88 percent want their employers to provide the means for work-life integration. Not to be confused with work-life balance, of course.
With work-life integration, employees blend the personal and professional to succeed in both realms. They check business emails at home while hitting up Instagram or Pinterest at work. It’s almost as if the division between the two worlds no longer exists.
To ensure your company attracts (and retains) the best and brightest of the 2020 workforce, I’d recommend making some distinct changes straightaway, including:
Lead with your values. Roughly 64 percent of millennials are in the business of good will. Start looking at your corporate values and emphasize community stewardship if you want to attract the attention of young hires. Once your core values are in place, identify initiatives that align with them and develop outreach programs or volunteer opportunities to help the community at large.
Establish a mentorship program. Though 72 percent of millennials would prefer to go into business for themselves, 79 percent aren’t looking for a traditional “boss.” They’d rather work for a coach or mentor. Changing the way leadership works with staff could benefit your recruitment efforts.
Integrate flexibility into the workplace. With 74 percent of the 2020 workforce seeking flexibility at work, you may want to consider giving it to them. How you do this will vary by industry, as some will still require employees to work from 9 to 5. But you can offer staff the option to work from home or adjust their hours. Maybe even summer hours are appropriate. Just look for ways to add flexibility in getting a job done, because they’ll put in the hours — if not more.
Emphasize collaboration. Collaboration means different things to different people. For millennials, it often means a noncompetitive culture — where transparency and open communication can thrive. In fact, 88 percent want to work for companies that value collaboration among their coworkers.
Collaboration may also mean giving employees time to work on their own project, which could bring in new ideas, products, or services. It’s win-win for all involved.

Review regularly. Millennials are known to be a well-educated, technologically savvy, and risk-taking bunch, but they also want to know how they’re doing right away, with 71.3 percentreporting the need for almost immediate feedback. Don’t wait to review their performance on an annual basis. It’s not the right approach. Tell them regularly if they’re performing up to snuff.
Millennials aren’t happy if they’re left locking up the office or working quietly on their own. They expect a seamless integration of work and life. If you can give it to them, they will give you their all, which will spill over into other areas of your business. So, what are you doing today to attract the talent of tomorrow?
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Dr. Jan Hoistad
Lead Coach. Business Development Consultant. Thought Leader. Entrepreneur. Author. Dr. Jan Hoistad is passionate about helping professionals, business owners, partners, and teams develop the skills necessary to achieve success and fulfillment in both their occupational pursuits and personal lives.
With 35 years of experience, Dr. Hoistad has been a pioneer in the field of professional coaching. She’s advised countless CEO’s, executives, business group heads, emerging leaders, partners, teams, and professionals in career transition and business development, teaching them how to dig deep, and sometimes loosen up, so they can start living by their values, finding their purpose, and achieving their professional and personal goals with intent and confidence.
By helping professionals see that personal wholeness is a means to achieving optimum professional performance, Dr. Hoistad provides her clients the tools to become catalysts for change in their own businesses, careers and lives. They learn to leverage their strengths, build on their expertise, and expand their influence to become true innovators in their fields.

2018-01-24T16:58:27+00:00