Last updated in March 2020.
What are millennials? The definition of a millennial varies; however, the consensus is that millennials are born between 1981 and 1996. Most likely, this generation grew up experiencing the 9/11 terrorist attack and the 2008 presidential election. These adults saw the turn of the century and onset of the digital age. Even more, the majority of millennials felt the weight of the 2008 economic recession. These are just a few milestones that millennials witnessed. Now they’re creating a milestone of their own.
Millennials are the largest generation in the U.S. labor force. According to the Pew Research Center, millennials account for about 35 percent of America’s workers.
Often referred to as ‘Generation Me,’ millennials have different priorities than their predecessors. They are often compared to the civic-minded G.I. Generation and are incredibly socially conscious.
With this in mind, companies should reconsider how to interact with millennials. According to Gallup, millennials have a reputation for job-hopping. Six in ten millennials are open to new job opportunities. Even more, only 29 percent of millennials are emotionally and behaviourally engaged in their job. Each year, these statistics have resulted in a high turnover rate that costs the U.S. economy $30.5 billion.
As such, it’s important for employers to adapt their communication methods for millennials. Focus on civility and self-care.
Here are the forward-thinking companies that incorporate a millennial mindset, recognized by BestCompaniesAZ:
- Blue Yonder AI
- Charles Schwab
- Farmers Insurance
- Freedom Financial Network
- Mod Pizza
- Revolution Parts
- Rocket Media
- Spear Education
See how a few of these companies are evolving into millennial-friendly workplaces.
Best Companies For Millennials
With a commitment to transparency, employees work together so that every person has a voice. GoDaddy’s Auguste Goldman stated, “we know when our workforce has ownership, we collectively shape our culture and create uncommon outcomes for both our employees and our customers.”
As a great example, GoDaddy’s Exceptional Teams program allows employee voices to be heard. During the Exceptional Teams workshop, a group of employees discusses: “What can we do together that we couldn’t achieve on our own?” To improve collaboration, this workshop combines expert advice, tools, and techniques.
GoDaddy’s dedication to diversity and inclusion, cool workspaces, and community involvement also appeals to millennials. Plus, the epic annual party? Delicious icing!
Just like their motto “Own Your Tomorrow” suggests, Charles Schwab is determined to help its customers and employees own their future. Employees, affectionately known as Schwabbies, receive financial services and advice from their employer. Perfect for millennials who are conscious of their financial future!
Contrary to their moniker “Generation Me,” according to a study, two-thirds of millennials won’t consider taking a job if the organization does not have strong corporate social responsibility values. In response, Charles Schwab capitalizes on this quality with Schwab Volunteer Week. The week is dedicated to volunteer projects within local communities. In recent years, Schwab has logged thousands of service hours, worth hundreds of thousands of dollars in labor.
To applaud this company initiative, Charles Schwab was recognized as one of America’s 50 most community-minded companies in 2017 by The Civic 50.
In a report, Gallup found that millennials are exceptionally purpose-driven, and value an employer that actively practices social responsibility. Additionally, millennials desire a positive work-life balance.
With a core belief to “work at never forgetting that our quality self-move, self-storage and closely related services and products are to improve human lives,” U-Haul makes big moves with social conscious initiatives and deliberate employee wellness programs.
U-Haul employee benefits include medical, dental, and vision plans; disability and life insurance; 401 (k) savings; and smoking cessation and healthy weight programs.
Additionally, U-Haul supports leadership training, personal development, and online education courses.
Even more, U-Haul is heavily involved in sustainable endeavors. So much so, U-Haul is a proud recipient of the Alliance to Save Energy’s Galaxy Star of Energy Efficiency Award. The prestigious sustainability award is awarded to companies with more than $150 million in annual revenue for their efforts to promote efficiency.
Because of their esteemed corporate responsibility to employee wellness and sustainability, U-Haul is an ideal workplace for millennials.
ADP signifies excellence amongst the top companies for millennials. The management services company prioritizes employee development and wellness to enhance overall client satisfaction.
For their strong efforts, ADP is recognized in various capacities. To demonstrate, ADP has been recognized as a Top 100 Companies for Remote Jobs (2018-2020); in retrospect, millennials value this popular work benefit. Additionally, ADP was recognized in Training Magazine’s Training Top 125 (2008-2019). Even more impressive, the management company was awarded the U.S. President’s Volunteer Service Award (2017-2018).
This is only a small sampling of ADP’s achievements. Nonetheless, it exemplifies the great work done to engage employees and deliver excellent services.
For many, working in the food industry is a right of passage into the workforce. Mod Pizza is shaping the employee experience of millennials for this new workforce. This fast-casual restaurant isn’t like any corporate office or pizza parlor! Have you seen another pizza joint on the Best Workplaces for Millennials 2018 list?
If we take care of our employees, they’ll take care of you, and our business will take care of itself. We call it Spreading MODness.
The company is emboldened and motivated by its people-first mission. This “MODNness” mission states, in short, that taking care of its employees -affectionately known as the Mod squad- comes first. That means paying their MOD squad above-industry pay, providing comprehensive benefits, and hiring a diverse workforce. In addition, providing an opportunity for professional growth.
So, what do you want from your employer? If you’re unfulfilled in your career, take a look at what some of the Best Companies in Arizona offer!