According to a report from MedCity News, the Millennial generation — typically geared to seek out careers that target making a difference in the world and serving the greater good — is finding a home in biotech. With a focus on start-ups, the open exchange of information, digital products and global connectivity, the Millennial generation is creating jobs and taking management jobs in companies that are pushing to keep pace with innovation trends.
An estimated 36 percent of Millennials will reach management positions as Generation Z enters the workforce. Their impact on the workplace can be seen across all fronts — from communication styles to benefits packages, leadership to methods for attracting new talent.
Short and Sweet
Trading email in favor of text, Millennials have driven the adoption of new communication platforms. Team management programs such as Slack, Asana, and HipChat favor shared communication and a more chat-based format so that users can interact in real-time. While no one likes a cluttered inbox, adapting to these platforms’ speed and more conversational nature, may take as much of a cultural shift as a technological one.
Who Does What and When
Expect to see business hours, attire, and leadership structures change. A suit and tie used to evoke professionalism, but today’s workers are more likely to be found in a t-shirt and jeans. The focus is on the work being done — not the starch on the collar. Virtual teams and remote employees contribute to this trend while also redefining work day hours. In the office, look for more interdisciplinary teams collaborating in ways that trade seniority for skills when assigning leaders.
Getting New Talent
Sales, operations, and engineering roles are projected to see more hires in 2017, and teams will diversify with a mix of full-time, part-time, and freelance workers. Top talent sources will come from referrals, online job boards, and social networks, which recruiting companies like Biotech Partners utilize in addition to a robust talent portfolio. Also a key focus for companies? Improving the candidate experience.
About 76 percent of all full-time workers are actively looking for a new opportunity — whether there’s a disconnect between their career expectations and their current position, a lack of opportunities to learn new skills and grow, missed chances for advancement and leadership, or a company rewards system that doesn’t speak to their own personal values. So how do you keep the talent you have? Consider benefits that emphasize healthcare and work environment flexibility on top of competitive compensation.
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