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Millennials in the workplace

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Millennials in the workplace

Background

Millennials (those born between the early 1980s and the early 1990s) make up a huge part of our workforce but they seem to lack loyalty to the companies and the leaders they work for. Multinational companies are noticing larger turnover rates of millennials as employee retention rates fall. This report looks at the findings of two large-scale surveys on the mindset of the millennial generation and explores how organisations can strive to address these needs, increase employee engagement and encourage retention.  

Research

In a global survey conducted by PricewaterhouseCoopers (PwC), more than 40,000 millennial (born between 1983 and 1993) and non-millennial responses were collected on the topics of workplace culture, communication and working styles, pay structure, career development, work–life balance, etc.

In a separate global survey conducted by Deloitte, more than 10,000 millennials participated in a study about their perceptions of the threats and opportunities in the complex world of work.

Key findings

  • Millennials are as committed to their work as their more senior colleagues.
  • Millennials value interesting work and a good work–life balance. They do not believe that excessive work demands are worth sacrifices in their personal lives.
  • Millennials want flexibility in their working hours and are willing to give up pay increases and promotions for a flexible working schedule. They believe that success should be measured by productivity and not by the number of hours they are seen in an office.
  • Millennials want to feel supported and appreciated by their company and their superiors.
  • Millennials want more opportunities to develop their skills. These include technological skills, teamwork and interpersonal skills.
  • Millennials believe that businesses and business leaders should contribute to the improvement of society and they are more likely to be loyal to a company with strong ethics.

Recommendations

Organisations and managers wanting to retain millennials should consider:

  • monitoring their workload and satisfaction levels with their work–life balance
  • creating a flexible work culture where employees have more control over their working hours and their work location
  • providing meaningful work and interesting opportunities
  • offering help and support in continuing professional development
  • changing the organisation's goals from being mainly about profit-making to motives that address social concerns and solve wider societal problems.

Discussion

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Language level

Upper intermediate: B2

Comments

For me the most important to be happy in my work is that you feel a good work enviroment and your boss is constantly encouraging you to improve your skills.

To me the most important in work it's to be consider as part of the team and to be recognized for my achievements. Good relationship with collegues also play a fundamental role in having a good and healthy enviroment in work which leads to the end to a happy worker.

nice

The most important for me at a workplace is the mutual respect between employer and employees, between employees themselves. Besides that, I'd like my wage to worth my efforts.

I was born in 1996. I'm not a millennial but all the findings are true about me. I need more opportunities to improve my skills, I believe in work-life balance, the atmosphere of the workplace is definitely important for me, I like to be appreciated for my achievements.

I think that to be happy at a workplace, efforts from your side and from your colleagues and seniors, both are important.
From your side, you should try interacting with as many people as possible, develop the habit of showing gratitude towards others and never develop any resentful feelings for anyone. One should try doing this even if he/she is an introvert.
From your colleagues and seniors side, they should try to provide you with an environment which is open, free and understanding. The workplace environment should not be caged with too many rules and regulations, rather, it should be cheerful and optimistic.

I think the most important for me to be delighted at my work is the confidince between the coworkers. and flexitime system at work.

I feel most contented when my clients needs are effectively and efficiently met. This seems more ethical and professional to me than being money minded!

Less stress about human relationships. Decision-making process often causes conflicts. ><

For me, the most important thing at work is a good balance between work and life. I am a teacher and I have seen many people get sick because they do not have enough time to do their task, even to rest. So, this can generate problems like migraine, depression, gastritis, among many others. On the other hand, it is very important for me to feel supported and appreciated by my students, parents and superiors.

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