What do millennials really want from work?
The term ‘millennial’ has been creeping up in conversation and making waves in the media, often describing a generation of determined, hard working individuals that are hungry to make a name for themselves.
Millennials are those born between 1982 – 2004, they range from the bright, fresh faced graduates to the prolific business leaders.
Millennials, or generation Y, are set to become a dominant group within the modern workplace as it is estimated that millennials will make up nearly 75% of the American workforce by 2025 according to this study.
So what do millennials really want from the world of work?
Swapping cash for compassion
Millennials are spending less time hunting down a six-figure salary and are putting more of their efforts into creating positive social change. According to Deloitte’s Millennial Survey 2017, 53% of millennials believe that they hold accountability for social equality while 59% feel that they are accountable for issues facing the environment. Following this, the survey also found that 77% of those interviewed have involved themselves with a charity or charitable cause.
Create and collaborate
Having been brought up in classrooms which encouraged collective group dynamics and an ability to work well in teams, the future millennial workforce will tend to favour collaborative efforts and a more social office environment. A recent study conducted by the Institute for Corporate Productivity found that companies which encouraged collaborative projects tended to be five times as likely to be high performing.
Straight talking teams
Gone are the days where radical changes and jargon-laced speeches were met with a roaring applause. The modern workforce has shown to prefer gradual changes made over time and simpler, direct communication between employers and employees. According to the Deloitte study, only 36% of the interviewed employees agreed with their employer taking decisive positions and making rash decisions, while 58% said that they are comfortable with their employer enforcing their opinion only if it’s backed by visible passion.
Flexibility is key
Over time, we have begun to see a gradual change in what is considered the traditional workspace. Nowadays, millennials are more likely to be able to work at whatever they want, during the hours they want, and from wherever they want. Studies show that 69% of today’s workforce are able, within limits, to choose their start and finish times. Also, around 64% can choose where they want to work, whether it be at home or off-site at another location.
Leading the way
According to Deloitte, more than six out of 10 millennials believe their leadership skills are not being fully developed and 71% of the millennials who plan to leave their current jobs in less than two years reported that they are unhappy with how their leadership skills are being developed. If growth doesn’t seem possible, why should millennials stick around? A typically ambitious generation, supporting leadership ambitions will result in a loyal team of millennials.
Of course every employee is different, but these are the most common must-haves among millennials… so it’s not just free food and quirky office space.
Did we miss something? What kind of company culture do you look for? Tweet us @GlandoreNetwork.
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