How will company culture continue to change in the next two years as more Millennials make their way up the ladder?
The following answers are provided by Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.
1. More Time-Tracking Tools
Millennials are a hyperconnected generation and are growing more accustomed to working from home or remotely, placing less emphasis on physical presence in an office. We’re going to see time tracking and invoicing tools become essential for companies as they focus on results and productivity, but in a place or at a time of their own choosing. – Dave Nevogt, Hubstaff.com
2. More Transparent Communication
Millennials are used to being “always on” and constantly sharing their activities and interests. Given the high value they place on transparency, look for them to make big changes in how companies handle communications with employees AND customers. – David Ehrenberg, Early Growth Financial Services
3. More Focus on Integrity
I think the most exciting part about Millennials making their way up the ladder is that there’s going to be more of a focus on doing good and providing great service, and less of a focus on competition or achievement. – Dan Price, Gravity Payments
4. More Fun
Millennials choose their careers based on things they are passionate about and environments that inspire them. As they climb the corporate ladder, they will enhance the culture and perception of the company via social media. – Ashley Mady, Brandberry
5. More Collaboration
Companies that don’t test their beliefs and assumptions about how people work together are going to really struggle in the years to come. People will expect to be more included in things happening around them at work. Concepts like crowdsourcing are going to become more commonplace as leaders rely more and more on collective wisdom to help inform their thinking on a continuous basis. – Chris Cancialosi, GothamCulture
6. More Remote Work
All 60+ employees in our company work remotely. We have offices, but those are more meeting and collaboration spaces than places where employees come every day to work. I think this will be the future of work, where how long you work and where you work aren’t as important as what you do at work. – Liam Martin, Staff.com
7. More Leadership-Based Culture
When we recruit talent (both Millennials and others), we seek to provide a culture of ownership and leadership at all levels. Millennialsrise to this challenge: they are driven, entrepreneurial and focused on developing into talented leaders. I believe that in the future, companies will seek to embrace a culture of ownership and leadership, allowing for a more driven working culture. – Abby Ross, ThinkCERCA
8. More Autonomy
There will be more flexibility and autonomy in the workplace. Companies will be comfortable having their employees work remotely asMillennials want to be able to travel the world and set their own schedules. To attract the best talent, companies will have to changetheir policies. – Randy Rayess, VenturePact
9. More Measurements Focused on Impact
Millennials have a poor reputation for being entitled, but I see them as a group driven by purpose. This new generation is simultaneously creating and being influenced by a world where technology can improve life and sustain scarce resources. Millennials feel a sense of responsibility to move us forward. As leaders, they will imbue that desire for progress in the company cultures they create. – David Hassell, 15Five
10. Less Face-to-Face Communication
Millennials are becoming more reliant on email as the main form of communication. Baby Boomers grew up with face-to-face meetings and phone calls, but younger demographics are relying more on technology, whether it’s email, Skype, Gchat, etc. The problem is that we’re losing the personal touch, both within companies and with clients, and things can too easily be misinterpreted. – Justin Beegel, Infographic World, Inc.
11. More Contract Workers
By 2020, 60 percent of the American workforce will be contract labor. The good news is that contract workers bring their A-Game. Their ongoing success relies on doing great work and being recommended for it moving forward. At startups, we hire to kill pain — not to fill jobs. We have short-term, highly-focused needs, and contract labor is a great way to address them. – Chris Ostoich, BlackBookHR
12. More Authenticity
Authenticity is extremely important to Millennials. As more Millennials become leaders, it will be increasingly vital to cultivate acompany culture aligned with the needs and values of the consumer. With the growing emphasis on authenticity, companies who do not have strong credibility and real relevancy to their users will not be able to compete. – Zach Robbins, Leadnomics
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