Let’s face it: millennials are taking over the workforce. It sounds exaggerated, but different researchers say that Generation Y will compose 50% of the global workforce by 2020. They are the tech-savvy, innovative, and well-rounded generation with their own set of expectations and demands. This brings new requirements in the workplace centered around creativity, entrepreneurism, and accelerated personal development closer to the boardroom. Nonetheless, not all companies are living up to this expectation.
What keeps them engaged in an organization? You may be thinking of free lunch, ping pong tables, nap quarters…and a long list more. Though these perks are good to have, Harvard Business School said these don’t keep them in the long term. It is good employee engagement that knits them closer to their organization.
How does GoTeam support the millennials in the workplace? Here are four things we noted:
- Growth & Development
In the last five years, about 87% of the management roles across all industries worldwide have been occupied by millennials. This is expected to rise year after year. Therefore, GoTeam always has the employees’ personal development in mind. The company library has a wide collection of different leadership books that they can borrow and read in their free time. Upskilling is also highly encouraged when the employee has nothing to do anymore.
- Open Communication and Transparency
An Australian financial company did a survey among millennials. They found out that 74% of their respondents said that confidence in their leadership is the key driver of engagement.
What does this mean? They want to see their leaders as someone they can look up to and emulate. They look forward to having a good conversation with them, and them listening to their concerns and challenges, and making them understand that their efforts matter most. They want leaders who mentor them.
Different organizations have their own way of living up to this expectation, but GoTeam’s unique way proved to be very successful in keeping its employees engaged. The Results Coaches huddle their team members daily and weekly. Moreover, the management, even the CEO herself, crowdsources innovative thoughts within the company.
The culture of transparency requires an ongoing dialogue between the management and the team members. So, millennials value an organization with open and constant communication and feedback process.
- Recognize and Reward Contributions
Being recognized for their efforts goes a long way. Different studies show that they want to feel that their efforts relate to the company’s mission. Big or small achievements need to be celebrated.
For this reason, several organizations structured a recognition system for their employees. Every month, GoTeam recognizes team members who exhibit the five values of the company: Care, Drive, Learn, Execute, and Find a Way. That’s on top of the monthly engagement activity to recognize everyone’s commitment to success and dedication to making the company the best in the industry.
- Creates Impact
Millennials feel good when they’re able to contribute toward social good. Cone Communications’ study reveals that 83% of them are loyal to the companies that help them contribute toward social and environmental issues. A hefty 88% of them are more engaged and fulfilled when they’re given the chance to create positive impact on these issues.
The outreach program doesn’t need to be fancy and big. Last year, GoTeam visited a non-profit organization that helps street children. What is important is that they’re able to help in spreading the cause so dear to them.
The future is here. With millennials taking the helm in the workforce, GoTeam is also continuously reinventing itself to create an environment that cultivates innovative ideas and improves the Gen Y’s overall wellbeing.
About GoTeam (formerly Go Virtual Assistants)
GoTeam, formerly GO Virtual Assistants (GO-VA) Inc. is a registered Australian-Filipino owned company growing in the heart of Cebu City, as well as a growing number of key cities in the Philippines.
Our HQ is situated in an IT complex with modern facilities, although since March 2020, more than 70% of our team members have been working from home.
Our enhanced operations and streamlined services provide scalable opportunities that spell sustainability, growth, and success for any business venture. As your global team members, GoTeam’s goal is to create winnable games and strategies across all the work that we do, knowing that your success is our long-term fulfillment.
We help Australian, NZ, US, and UK businesses increase revenue, reduce costs, and scale through outsourced offshoring. This also creates for us the opportunity to be a catalyst for people to exceed.
AU (+61) 2 7227 8809
US (+1) 302 207 2767
PH (+63) 32 410 7523
HK (+852) 302 203 9009
9th Flr, i1 Bldg, Jose Ma. del Mar St, IT Park,
Cebu City, Philippines 6000