What would it be like if you felt deeply connected to your organization, a sense of total emotional and physical wellbeing, and each day was spent working towards bettering the planet?
That’s the future of work that millennials in the workplace (aged 27-42 in 2023) aspire to today.
Engage millennials in the workplace through ESG
Korn Ferry's latest research on the workplace of the future reveals that 65% of millennial workers would feel more inspired at a company with a good ESG policy. With 54% of millennials considering themselves climate activists, the onus is on soon-to-retire baby boomers (aged 59-77) to think beyond their current agendas and build a compelling leadership pipeline before it’s too late. “We’ve been talking about the baby boomers retiring for the last 20 years. And in some cases, they’ve been blocking the millennials,” says Andrea Walsh, Korn Ferry’s Global ESG and Sustainability Leader.
But what about Gen X? Professionals aged 43-58 would indeed be a logical choice to succeed baby boomers, but the past few years have shifted their priorities, causing nearly half of them to actively consider early retirement. So, the challenge for current leadership is to create a workplace that excites millennials – one that anchors future ways of working around purpose. But for some firms, their internal messaging sounds like greenwashing.
“What companies need to be doing is embedding ESG within the business so it’s not just a standalone policy and millennials feel like real action is being taken,” advises Walsh.
She adds that in addition to understanding what employees would like to see, it’s beneficial for leaders to learn how all stakeholders envision an ideal ESG effort. This includes investors, shareholders, regulators, and outside policymakers. This 360-degree approach turns an emotional commitment into a practical, sustainable one because it intersects with the organization’s business need.