By 2020, Millennials will form 20% of the global workforce. Find out who they are, what motivates them, why they matter in the workplace, and how who can leverage them in your workplace.
Sources:
1. https://nshss.org/newsroom/millennial-career-survey/
2. http://www.gallup.com/businessjournal/196985/millennials-jobs-promote.aspx
3. http://news.clarku.edu/news/2014/08/28/thirtysomethings-on-work-most-say-enjoyment-on-the-job-trumps-fat-paycheck/
4. http://www2.deloitte.com/global/en/pages/about-deloitte/articles/millennialsurvey.html
5. http://www.ultimatesoftware.com/Contact/hr-whitepaper-is-there-really-a-generational-divide-at-work
6. http://www.aon.com/human-capital-consulting/thought-leadership/talent/2015-workforce-mindset-study.jsp
7. http://blog.viacom.com/2012/10/consumer-insights-mtvs-no-collar-workers/
8. http://c.ymcdn.com/sites/www.leadingagenc.org/resource/resmgr/2016_White_Papers/Trend_Analysis/Sodexo_Workplace_Trends.pdf
Millennials in the Workplace: The Who, Why, and How
1. Millennials
in the workplace
Why Millennials Matter
Millennials Treasure Work/Life Balance
The Who, Why,
and How
By 2020, millennials will form 50% of the global workforce
69.2%
Seek a good work/life
balance in an employer
57%Said well-being in a job is
“very important” to them
74%
Expect flexible schedules
in the worklplace
78%
Said it’s more important
to enjoy work than make
a lot of money
Millennials are tech-savvy multitaskers
Said access to
technology they
like to use makes them
more effective at work
Felt that their managers
did not always understand
the way they use technology
at work
Said they would rather
communicate electronically
than face-to-face or over the
telephone
50% 41%
78%
Millennials Value Feedback
25%feel that annual reviews
don't help improve their
performance, but
instead, feel regular
feedback does.
Feedback frequency
in millennials
want feedback every week
(2x any other generation)42%
would like to see the
recognition program improve
at current employer
38%
say they receive routine
feedback from managers19%
Generational Gap
Felt personal drive could be intimidating to other generations
Felt senior management could not easily relate to younger workers
38%
34%
Common (Mis)Perceptions
Not Loyal Not hard workers Expect constant
praise and rewards
Instant
advancement
They don’t
respect elders
They only want to learn
from computers
Impossible to turn into
long term employees
Millennials are motivated by more than money
51%
65%
Said feedback should
be given very frequently
or continually on the job
1%Only 1% said feedback
was not important to
them
Said rigid
hierarchies and
outdated management style failed to
get the most out of younger recruits
Employees committed to
companies who put in
more effort, with 87%
less likely to resign
57%
Best way to manage and motivate millennials
Provide strong, involved
management1
Have regular check-ins
Provide metrics to reach success
Work together on creating clear goals
Make work challenging,
engaging, and fun4
Promote friendly competition
& instant recognition
Work does not have to be a game all of the
time, but elements from games
can be very effective
Show them how your company is
making the world a better place
and how they can contribute.
Show them the
higher purpose2
Create an environment
of recognition3
According to Bersin associates,
Companies that do this well perform 14x
better than other companies and will do
a better job of retaining millennials.
Leverage the
latest technologies5
Easy to use
Saves time
Accessible
75%
Prefer to work from home or other locations
where they feel most productive
(only 43% currently allowed to do this)
82%
Feel it’s important to have a career that
does some good in the world