Approximately 80 percent of UAT employees are millennials. What does this mean for the company?
Studies have shown that millennials have a different mindset when it comes to work. This poses a potential problem because the unconventional ways in which millennials work may not sit well with their older counterparts.
Their “lack of loyalty,” for one, is seen negatively because it implies companies cannot rely on millennials to stick around. This can create challenges in the workplace. According to a Deloitte study, this problem stems from several factors:
- Underutilization at work
- Lack of leadership skills and development
- Lack of emphasis on employee well-being and growth
On Values And Making A Difference
Millennials are open to new ideas; they are expressive and confident. These traits could very well be the reason why their frustrations about the opportunities at the office may result in their lack of loyalty.
As a matter of fact, millennials put their personal values ahead of organizational goals. They are more concerned with making a difference in the society. And if they feel that a company’s values aren’t aligned with theirs, they are more likely to leave early or go with another firm.
However, new data showed that millennials are developing a more positive view of businesses in general. In fact, they think that 76% of businesses impact the society positively.
What does this mean for firms?
As long as they can meet the millennials expectations, they should be able to enjoy the many awesome things millennials can bring into the company. Despite the bad rap they normally get from their older counterparts, millennials are great employees because they:
- Adapt well to changes
- Learn new skills quickly
- Smart and can be highly motivated
A Forbes article listed down the many benefits of hiring millennials:
- They offer a fresh perspective
- They have superb technical skills
- Those who are new to the workforce do not charge as high as more experienced professionals
Fun And Excitement Still Matters
Millennials can inject fun and excitement in any organization. Since having fun workplace is one of the things that influence employee satisfaction, firms can definitely benefit from having such people; it will be good for establishing strong company culture.
Companies, however, need to make sure that they can offer the following:
- Attractive compensation package
- Offer employees a well-articulated career path
- A conducive and fun company culture
- Perks and benefits
Millennials are different from their older counterparts because they have a different mindset, but that doesn’t mean they are less efficient. Data has proven that they have a lot to offer firms and contribute to their success as long as the companies do their part as well.
UAT is attune with the changes in the accounting landscape. That’s why we welcome millennials in our company. They have been vital in our success as an offshore provider. For our part, we have ensured that all team members enjoy a fun workplace where they can enjoy work-life balance and a conducive place to learn new skills.
We are also committed to helping our team members grow in their careers. We have regular seminars and training programs that employees can avail of so they can grow as accountants and financial professionals.
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