The workday is changing, and you need to keep up so that you can hold onto your millennial employees.
Employee turnover is expensive, especially, for a startup company. In today’s digital world, the old 9-5 work day is going the way of the dinosaurs, and soon it will only be a song by Dolly Parton and something that grandparents used to do.
According to Forbes, freelancing and self-employment are on the rise and companies are having a harder time holding on to full-time employees. Millennials are only staying at their job for an average of three years before moving on, and this is a costly expense for any company. Fortunately, the problem is fixable. You just need to do a few structural changes in how you do business.
Millennials are quitting their jobs and 401Ks for workplace flexibility
Studies have shown that millennials are quitting their jobs and 401Ks for workplace flexibility. Climbing the corporate ladder one 9-5 step at a time is a thing of the past. Millennials want to be independent, choose projects that they love and have flexibility in terms of when and where they choose to work.
FREElance = Sense of Freedom
Working as freelancers gives millennials a sense of freedom. Freedom to work whenever they please, freedom to set their rates, and freedom to choose the products or services that they feel provide a greater purpose. They don’t just want to work, they want to make an impact, they want to break the rules and change the nature of the game.
More and more corporations are embracing the new millennial way of working, and you should, too.