August 04, 2016
The Power Demographic: What Millennials Want at Work and What that Means for Property Management
Millennials are a powerful demographic. Born between the early 1980s and early 2000s, there are now more than 12 million of them in Canada alone, making them the largest age group since the baby boomers.
They’re also becoming one of the most influential cohorts. Millennials currently comprise 31% of the workforce, and that number will continue to grow as more of them graduate from school and enter the labour pool.
As property management companies continue to do battle for top talent, attracting and retaining millennials will become increasingly important to business success. Here are the top three things you should offer in order to recruit millennial workers and keep them happy on the job:
The contemporary workforce demands greater flexibility, and millennials are a big reason why. According to them, having flexible hours will improve happiness and productivity. Not only does it enable them to schedule their personal and professional activities on their terms, it also helps cement their commitment to the job; the majority of millennials work from home even after their formal workday is over.
For better or for worse, working vacations and all-hours email correspondence are becoming the norm. Incorporating cloud-based solutions is a strategic way to facilitate on-the-road and even work-from-home solutions. By providing a workplace that accommodates employee schedules, your company will be more desirable to millennials.
Tools They Know
Millennials grew up in the digital age, with mobile technology and instant messaging playing an integral part of their upbringing. They’re used to doing everything from banking to booking vacations on the go —often from their phone— in just a few minutes, and they expect the same access and flexibility in their jobs.
Many millennials are recent grads, coming from colleges and universities that had all sorts of new-age tools at the ready. It’s bound to be disappointing if they enter the workforce and discover antiquated tools and manual approaches – not to mention internal resistance to the latest technology. If your company doesn’t embrace the tools millennials know and love, you run the risk of alienating them and losing them to more technologically savvy employers.
For most millennials, environmentalism and sustainability are top of mind, and that includes on the job. Half of all millennials say that environmental friendliness in the workplace is an important factor in choosing a job – compared with only 35% of all workers.
What does that mean for your company? There are plenty of automated, digitized solutions to manual approaches that not only streamline processes and minimize error and repetition, but also cut back on paper. Every way you look at it, it pays to embrace going paperless. And your new millennial recruits will appreciate the effort!
The Smart – And Safe – Solution for Working with Millenials
All this new technology and workplace freedom offers many advantages, but property management companies must make sure they have the tools to meet the challenges that come with millennials.
Allowing workers to rely on a variety of personal devices can create cybersecurity risks. That doesn’t mean you shouldn’t take the technology plunge with your millennial employees. It just means you should take the necessary precautions to keep proprietary information and sensitive company data safe. The best approach is to provide remote access to workplace files and platforms using secure, cloud-based technology.
To learn more about how you can increase your appeal to millennial workers while protecting your data and digital infrastructure, sign up for your free account today.