Canadian Retailer - The Human Resources Issue - 27

As of 2015, Millennials made up 37 per cent of Canada's workforce-eclipsing the Baby Boomers as the largest group in the
workforce-and that number is projected to increase substantially over the next decade. As more Millennial employees enter the
workforce, one thing is quickly becoming clear: what they want
from an employer is very different from that of previous generations. They bring with them an unprecedented desire for flexibility,
for work-life balance, for deconstructing traditional hierarchies. All
of this stands to transform corporate culture from top to bottom. In
fact, for many retailers, properly managing a Millennial workforce
could be the difference between a business' life and death.
Educated, diverse-and broke

Named in 1991 by William Strauss and Neil Howe in their seminal book Generations, Millennials (children born between 1982
and 2004) now make up 27 per cent of Canada's population-
roughly equal in size to the Baby Boomers. Already,
they're the most educated generation in history. " THE STEREOTYPE THAT THEY'RE
They're also the most underemployed. Across North
A LAZY BUNCH-THAT ISN'T
America, 43 per cent live at home. Constrained by
SUPPORTED. THEY'RE WELLan uncertain labour market, crushing student debt,
EDUCATED. THEY'RE HARD
and sky-high housing prices, many have ended up
WORKERS. THEY'RE WELLdelaying the traditional milestones of previous genTRAINED. THEY KNOW HOW TO
erations: careers, homes, and children.
USE TECHNOLOGY. AND THEY'RE
"If there's one thing that really defines Millennials
INTERESTED IN LEARNING-
as a generation, it's that the transition into adulthood
PERHAPS EVEN MORE SO THAN
is taking a lot longer than it used to," explains Dr.
OTHER GENERATIONS."
Sean Lyons, an intergenerational researcher at the
- DOUG NORRIS
University of Guelph. "It's taking people a lot longer to become
Environics
established, and they're reliant on their parents for longer periods
of time. They have very high expectations for establishing themselves when they get out of university. But they still face a labour
market that treats them like typical early-twenty-year-olds from a
generation ago."
In spite of these challenges, a recent Pew Research report found
that Millennials remain optimistic about their employment and
financial prospects. And as Doug Norris, Senior Vice President
and Chief Demographer with analytics firm Environics, notes, as
employees, many of the labels they've been saddled with aren't
borne out by the facts.
"The stereotype that they're a lazy bunch-that isn't supported,"
he says. "They're well-educated. They're hard workers. They're
well-trained. They know how to use technology. And they're interested in learning-perhaps even more so than other generations."
Bridging the generation gap

With the percentage of Millennial workers steadily increasing, Susan Heathfield, an HR Expert and Management Consultant notes,
the desire to properly manage those employees is also on the rise.
To do this employees today are moving away from traditional notions of putting in time, preferring to focus on the work that needs to
be done; according to a recent Pew Research Centre survey, 64 per
cent of Millennials would do some work from home if given the opportunity, and 66 per cent would alter their working hours.

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THE HUMAN RESOURCES ISSUE

| CANADIAN RETAILER | 27

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