Impact of Millennial Workforce on Business Environment and Practices

This report examines the significant impact of the millennial workforce on contemporary business practices. It highlights the importance of corporate social responsibility (CSR), employee motivation, and purpose-driven business models, referencing studies indicating that millennials prioritize values and ethical considerations in their employment choices. The report emphasizes that businesses must adapt to these evolving expectations, incorporating sustainability and gender equality into their strategies to attract and retain talent. Furthermore, it explores how a shared vision and a sense of purpose can enhance employee engagement and productivity, ultimately contributing to business success. The report references academic sources to support its claims, providing a comprehensive analysis of the changing dynamics within the business environment shaped by the millennial generation.

Paraphrasing
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According to the recent survey of PwC 88% of millennials are willing to wok in such type of
organisation whose values meet with their own. Not only this but also 86% of millennials are
saying that they will leave such type of company whose corporate social responsibilities are not
according to their expectations (Groen, Cook and Van der Sijde, 2015). This research can
help to determine that all the youngsters of the society are looking for those jobs that may help
them to fulfil their own needs and it has resulted in the reshaping of the working environments.
Now employers can no longer have enough money to pay lip-services to vital problems like
sustainability and gender equality. They have to deal with such issues effectively. Employees in
purpose-led businesses are working ore effectively. Workers are more involved in the business
when they know that they are part of big business and youngsters considers the big picture
business. If the employers are willing to empower their millennial employees than they must
internalise and incorporate purpose driven at their work place. An effective team may help to
establish a successful business. If the employers want to have motivate employees than they have
to work under common vision. Shareholders and owners expects returns from business this
concept is inevitable (Kang’ethe, 2015). If employees have the idea of that their small
contribution are going in to social cause than it may help to motivate them strongly.
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REFERENCES
Books and Journals:
Groen, A., Cook, G. and Van der Sijde, P., 2015. New technology-based firms in the
new millennium. Emerald Group Publishing.
Kang’ethe, S. M., 2015. Exploring feminization of HIV/AIDS and Millennium
Development Goals (MDG) with examples from Botswana and South
Africa. Journal of Human Ecology. 49(3). pp.211-217.
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