A Gallup poll from 2018 found that both Millennials and Generation Z share similarities in what they look for in an employer.
Over the past year, these themes have been amplified. With these generations making up almost half of the full-time workforce in the U.S., it’s essential for companies to make changes to improve the employee experience.
One of the main characteristics of the workplace that Gen Z and Millennials desire is a culture of wellbeing. In 2020, employee wellbeing officially came to the forefront of discussion.
Gallup identified five elements of wellbeing that include career, social, financial, community and physical. Without nurturing all five of these elements, organizations risk a loss of revenue, and more importantly, culture.
Additionally, these younger generations want their business leaders to be ethical and transparent in their operations as unethical standards can seep into the rest of the organization and become toxic to a company’s success.
Companies that do not prioritize morals lose the trust of their workers, which can impact the quality and productivity of their work.
Along with having an ethical backbone, Millennials and Gen Z also want a company that supports a diverse and inclusive workforce.
These generations tend to hold companies more accountable for lack of inclusion and equity, so DEI is no longer seen as a “benefit” of the company, it’s an absolute necessity.