Anyone who says that business isn't changing is clearly not paying attention. On top of the new technologies, smart devices and incredible data architectures that have been driving business evolution, we're also changing as people.
Deloitte touched upon it recently in the company's 2016 Millennial Survey. Young people who fall into this millennial age bracket (commonly thought of as being people born between the early 1980s and early 2000s) have completely different motivations to those of the past – and even current business leaders.
Could better information management keep employees around? It can certainly help.
What millennials want – and expect
While almost a third (29 per cent) of millennials reckon turnover is a good measuring stick, the top three ways they determine a good company is by more substantial means.
The most important thing for millennials was found to be product or service quality, with 63 per cent using it as a way to measure which employers they want to work for. The next generation of workers and leaders want to feel pride in their work, and produce something worthwhile.
Interestingly, 62 per cent believe employee satisfaction is critically important to them, which is notably higher than customer satisfaction (55 per cent). Millennials overwhelmingly seek a gratifying job, and other things like customer service and quality of work will surely follow.
However, it appears that a worrying number of employers are not creating the environment in which younger generations want to work. Forty-four per cent of young workers say if they were given the choice, they would leave their current employers within the next two years.
A word on information management
Could better information management keep employees around? It can certainly help. We've been saying for some time that data plays an integral role in every part of an organisation, and it's no different in this instance.
Quick access to accurate information can improve the way your employees operate. By spending less time looking for information, they are more productive, which decreases stress and improves satisfaction – who likes digging through the haystack to find a needle?
What's more, that haystack is getting bigger, though the needle (the nugget of information) remains the same size. As business continues to evolve, the onus is on having an effective information management plan before data deluge begins to drown out those businesses that are behind the times.
That change can only happen at the top – by directors, executives and even investors. The takeaway? Evolve or find your business too far behind to catch up. If you want your business to keep up with millennials, your information management is going to be one of the first things to address. Get in touch with Experience Matters to find out more.