Preparing for Millennials on your Team

Dateline: March 25, 2016

Welcome to our Friday WRAP – one thought-provoking idea to think about over the weekend.

This week’s food for thought comes from a recent article published by BloombergBusiness titled, How Satisfying Millennials Could Save PwC $850 Million.  PwC or PricewaterhouseCoopers, is a large, multinational consulting firm employing more than 200,000 employees world-wide. Since 80% of the US workforce is under the age of 36, and turnover in that demographic was very high, senior managers searched for some insight to reduce this situation.  A recent survey of about 25% of the staff highlighted the need for new work arrangements.  They found,

The top gripe was stereotypically millennial: Some 71 percent said their jobs “interfere with their personal lives.” Nearly as many wanted to be able to work from home…. “Our people were telling us we needed to evolve,” said Michael Fenlon, the company’s global and U.S. talent leader….To offer more flexibility, the company hatched a plan to convert all of its U.S. offices to co-working spaces, where employees can reserve a seat or an office to work in using proprietary software or a mobile app. The shift could save millions of dollars in recruiting and training, and put a meaningful dent in overhead…. At the same time, over the past three years, PwC began giving employees more control over their schedules and allowing them to work from home when needed….Nearly 90 percent of the company’s employees now “hotel,” or share space when they are in the office.

What flexibility do you offer your workforce?  What can you offer them?

That’s a WRAP!  Have a great weekend!

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