A Millennial was born somewhere between 1980 and 2000. That generation of kids and young adults who are just starting careers or are currently working their way up the ladder. They are into technology, they understand the work life balance and they see work as the way to improve their lives rather than as a simple way to earn money. It seems that Millennials want different things from their work and have specific ideas when it comes to their job. It might make life harder for employers – but in a totally good way.
The Global Leadership Summit carried out by London Business School in 2014 looked at this generation of workers across 33 countries and discovered some interesting things. When a Millennial starts a new job, they want to see results – fast. It appears that 90% of those questioned expected that they would stay with their employer for no more than five years and more than one third expected to jump ship after just two years. In fact Millenials pay close attention to their career progression and are not afraid of change. Keeping hold of them requires employers to offer careers that move as quickly as they do.
Proud of what they do
But when it comes to choosing their next employer, a Millennial is much more likely to take into account the ethics and accountability of the company they work for than previous generations. It is thought that this relates to their ultimate aim – to reach Director or CEO level. In other words they want to be proud of the organisation they are running. A study carried out by Global Tolerance in the UK discovered that 44% were interested in meaningful work and 36% felt they worked harder if they thought their company benefited society. In fact, most would give up a high salary to work for a positive company.
Work life balance
Most of all, Millennials see flexibility as king when they are searching for their next role. They have lived their entire lives online. They understand how easy it is to work remotely, to have Skype meetings or to decide your own work hours. This generation of workers are more likely to go for a role that suits the flexibility they see in other parts of their lives. In fact a study by PwC discovered that most would give up a promotion or money just to get a schedule that suited them.
This is about work as a process of personal progression. After all, work should never just be a means to an end – but a way of achieving life's goals. For employers, the challenge is meeting these expectations and attracting the next batch of impressive talent. If employers are able to offer flexibility, a workplace ethic that sets your company apart and a career progression that is smart and fast – you may just find a bunch of workers who are after much more than money and will offer you something special.