Malaysian companies have shown tremendous resilience and tenacity to navigate complex landscapes to become global companies that are well-known.
Their success in doing so continuously depends on their ability to cater to the millennials who are entering the workforce. Traditional workplace practices may not align with what millennials want. Therefore, organisations must adapt to accommodate millennials while navigating changes in the business environment.
The new workforce is characterized by the fact that millennials are tech-savvy, have a greater desire for work-life balance, and want workplace flexibility. This trait mirrors the agility and nimbleness increasingly valued in today's workforce, aligning seamlessly with the expectations of millennials.
Among the things that are valued by millennials is that they value-work-life balance and would prefer to work remotely. Catering to the needs of millennials would, in turn, allow companies to quickly adapt to changing circumstances, such as market shifts or changes in technology. Flexibility in work practices would give them the option to respond to changes and make decisions promptly.
Millennials grew up in an environment surrounded by gadgets and expect the workplace to embrace and infuse technology. Organisations that adapt to the needs of millennials can improve their overall efficiency in operations, which leads to cost savings and increased productivity. In addition, the familiarity of adopting technologies can facilitate greater collaboration among teams.
Integrating advanced technology and sophisticated gadgets can enhance customer experiences by reducing response times and enabling personalized interactions, leading to greater satisfaction and better retention of customeers. In addition, it would facilitate greater decisions made by organizations that are data-driven, which would allow them to make informed decisions, driving greater efficiency and effectiveness in their operations.
Another aspect of the modern workplace that aligns with the needs of millennials is that they cherish an environment that allows them opportunities for professional growth through training programmes. It is imperative that organizations provide such an environment, as continuous learning and upskilling are paramount for organisation to thrive in the present environment.
An integral part of having a successful human resource policy is ensuring high staff retention. With more millennials entering the workforce, it is important that they value opportunities to up-scale themselves, as a lack of such opportunities may force them to leave the organisation.
Providing such opportunities to millennials would also ensure that they are agile and adaptable. Many organizations that lacked flexibility and did not innovate to cater to changing circumstances have become extinct. Having a workforce that is innovative would allow organisations to stay ahead of the curve in the changing business landscape.
Millennials also seek opportunities for growth through continuous learning and career development, and employees should provide opportunities for growth through such training programmes. By providing these opportunities, organisations ensure that their workers remain relevant and well equipped, aligning with the current environment where continuous learning and upskilling are essential.
This would ensure that millennials would stay in organizations where employers invest in their professional growth and offer a clear path of advancement. A workforce that is trained is likely to be adaptable, innovative, and able to explore new ideas, qualities essential in modern organisations.
Millennials also crave an inclusive and nurturing workplace, aligning with modern organisational values. Fostering such a culture would enhance employee engagement, as individuals are more likely to contribute and share ideas when they feel valued.
A notable company that has catered to the needs of millennials while fostering innovation and agility is Google. By embracing flexibility and work-life balance, Google allows employees to work during the most productive times and maintain a life-work balance, leading to increased productivity and job satisfaction.
Another aspect of the need of the millennials is that they crave continuous growth and learning, and Google offers continuous training opportunities that allow them to be equipped with the latest knowledge and skills that drive innovation.
Millennials also cherish open communication and an inclusive workplace that fosters a culture of collaboration, crucial in an environment that is in a constant state of flux. By providing such an avenue, Google has encouraged greater employee participation and brainstorming sessions, which has led to its success.
In short, balancing the needs of millennials with the strategic goals of an organisation is crucial for sustained success, such as increasing the productivity of the organization, ensuring talent retention, and creating a workforce that is agile through continuous learning.
Such changes not only fulfill millennial expectations but also align with modern organisations' goals in a dynamic business environment.
*The writer has an MBA from the University of Strathclyde in the UK, has worked in the financial markets, and has lectured extensively on management. He was also formerly attached to a leading think tank. The views expressed in this article are the author's own and do not necessarily reflect those of Business Times.