As more Millennials enter the labor force every year, they continue to change the way employees live their lives at work every day. They come to revolutionize the world, and as a business owner, you should be aware of these changes.
Currently, 35% of the U.S. labor force consists of millennials. That’s about 56 million millennials working in our industry. More and more are joining each year. They are slowly becoming the largest generation to have ever entered the US labor force. Aside from this, millennials have the highest spending power among other generations that have ever existed. It’s been predicted that millennials have $4 trillion in spending power by 2030. Many companies are flocking into this generational trend, and many companies are accommodating how millennials live their lives. With this comes a drastic change in how people live their lives both inside and outside work.
Millennials love living the on-the-go lifestyle, which is centered on being fit. They also like to eat more healthily and spend time with their friends more after work. Because of this, many of these millennials live a more casual life. But what does this mean for your business? And what can you do about it? Here are some ways millennials are changing the way employees live and what you can do about it.
Casual Wear, Casual Life
Millennials love to go to the gym and spend time with their friends after work. This is something that they do every day, and if you have any millennials working for you, you might have noticed this. Unlike other generations, millennials like to maximize their time every day to satisfy their needs and wants. Additionally, unlike other generations, they spend more time at work, so they don’t really have the luxury to go home and change for the occasion. So what they do is wear the kind of clothes they want to wear for the whole day.
At first, many companies were surprised to see this change in their employees. Warm suits were out, and t-shirts and casual pants are in. Some millennials are even reportedly going to work with torn jeans. This is a nightmare for companies that want to look formal in front of their shareholders. However, as more and more millennials join the labor force, more companies have realized how they can’t really do much about this trend. So the best thing they can do is adapt to it.
Many companies of today have adopted the way millennials wear casual clothes. As a business owner, you should, too. You won’t really experience any negative backlash by doing so unless you’re a construction company. If you’re a construction company, you certainly have to strictly impose protective clothing on-site. But maybe implement more casual wear once everyone is outside.
Living Near Everything They Need
As stated earlier, millennials want to maximize their day to achieve their needs and wants. Because of this, they like to live close to everything they need.
Many millennials are living in urban cities, and more of them flock to these cities every year. This is where they work, and this is where they get everything they need. They don’t like living in residential districts or suburban homes because they are too far away from where they work. So they decide to rent or even purchase condominiums. However, in some situations, they also look for homes to buy near them. They like to be where the action is located, and they want to be in front of it all. Many businesses have also started to adapt to this by building utilities that can support the millennial lifestyle.
Some businesses have built gyms in their own building or opened some space for gyms to be in their building. Some workplace pantries also changed their menus to accommodate the diet of millennials. Ultimately, as a business owner, you have to start doing this as well. This is to maximize the efficiency you can get out of your workers, not just millennials. With everything they need in your office space, they can work more efficiently and more effectively.
Being a Part of Social Issues
Millennials are aware of the changes in the world. Many are environmentalists who want to live an environmentally friendly life. Being born at a time when crises like climate change become a norm did this to them. However, this is an overall good thing because their overall contribution has increased climate change awareness.
As a business owner, you should look into ways to make your company more environmentally friendly. You can go for tree planting activities every month or even have seminars about climate change in your company. You won’t lose much by doing these things because you’re only promoting your company even more. You can gain more millennial workers by doing this.
Here are some ways that millennials are changing how employees live their lives. As business owners, it is your responsibility to accommodate them. They are becoming the largest labor force in the US, so if you don’t choose to accommodate these changes, you might not have the employees you need for your company.