The term “millennial” has become a semi-permanent fixture in today’s corporate lexicon. And I’m sure you’ve heard by now that this age demographic is rapidly changing our corporate culture and landscape – for the good.
Some stats to consider:
- By 2020, 86 million people, or roughly 40% of the working population with be Millennials.
- By 2025, Millennials will comprise approximately 75% of the working population.*
This demographic shift brings along with it a different set of expectations for the workplace and workspace design. Unlike their parents generation which placed work-life balance as priority number one, Millennials prefer work that’s integrated into their lives. The work/life balance has been replaced with a work/life integration equation.
Top 3 Millennial Workplace Must-Haves
1. COLLABORATION + CONCENTRATION
Millennials desire open workspaces for on-the-spot collaboration and free-flowing creative exchange, yet easily accessible concentration areas for focus work. Open office design with easily accessible concentration spaces provide a happy medium.
2. FLEXIBLE WORKING
A recent research study by Regus found that 70% of managers reported an increase in productivity after a shift to flexible work arrangements. Researchers also found that 63% of managers linked a growth in revenue directly to flexible working practices, according to a survey of 2,500 senior managers. Add to this the fact that Millennials prefer moveable touchdown stations rather than fixed cubicles or walled-in offices. They desire quick spaces to hang their hats, store their bags, charge up and keep moving. What does it all boil down to? Designing a workplace that caters to flexible work arrangements – such as touchdown stations for mobile workers – represents a sound business strategy. It not only reduces wasted real estate space caused by unoccupied, assigned offices, it keeps the business of the mobile worker flowing, without interruption.
3. RECHARGE + RELAX SPACES
Work-life integration means creating office environments which imitate life. Millennials want to take breaks throughout the day for meditation, to play a game, exercise, or just a private space for napping to recharge. These mini on-going breaks can do wonders for regenerating creativity and innovative thought. Forward-thinking businesses know that time out and relaxation spaces are much more than a Keurig, microwave, and a mini-fridge. Smartly-designed workspaces ensure workspaces are equipped with relaxation and recharge spaces, which will create a happier, healthier and productive workforce.
To attract and retain the business leaders of tomorrow, it’s important to have a thorough understanding of what motivates Millennials, then design a workspace that works for them.
To learn how we can help you with Millennial-focused work space solutions, please contact us.
*Jamie Gutfreund, chief strategy officer for the Intelligence Group