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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

I'm a millenial (born in 1989) and I totally agree with this text. I mean, is far more important flexibility than a little more money on your paycheck. And maybe it's true that we are less loyal. But isn't loyalty, it's simply the will to find a better oppurtunity if the workplace in wich we work doesn't match with our way of thinking. For this reason I agree that companies have to motivate all the employee with business goals linked at the good of society and strong ethic.

I'm a millennial and I think all of these features about millennials are true. The most important thing in the workplace is flexibility. With internet and social media working in a specific place is ridiculous!

The most important thing to be happy at work is perspicuity. I like to everything clear, easy to understand, what do I need to do etc. Also I'd want to wage that accordant my skill.

The most important fact to be happy at work place is to respect each other.

Currently, I'm really happy to work flexible and comfortable in the atmosphere of workplace. No stress. I want to have a good relationship with everybody. Therefore, we can discuss and share several things which I think I have experienced in some fields. I am not sure about the millennial their ideas, but two surveys are gave me many things to think what change nowadays.

The most important thing is flexibility in time and location of work. I'd like to get money for my productivity and not for the number of hours I work. Also, the issue of respect is very important to me.

My job is a major part of my life. I spend most of my day working and putting effort into my work. Therefore, being happy in what I am doing on a daily basis is so important to me. I really like my work environment to be collaborative and friendly! As well as smart and hard-working. Respect has a big role too! Being respected by your teammates is such a good feeling and builds trust in each other.

Dear me! I'm not a millennial, but I have always preferred the autonomy in my job compared to the pay increases or the promotions.

As a nearly Millennial (born in 1981) I totally agree with all statements of this text.
First of all, I think the right balance between work and personal life is a short way to a healthy life. I mean not only a physical health but a mental as wel, plus no worries in relationship, enough time for wife (or husband) and kids. And, of course, some time for yourself. Each of us needs some time to relax or settling our thoughts and feelings. At myprevious job I had to work from 9 am to 10 pm almost every day and it was major reason of my quit. I just coundn't find solid ground going to that work every morning.
Another good point is flexible working schedule. Sometimes you have to come at work a bit later or even pass a full day (as needed). It's good if your company can let you do it, of course, not at the regular pattern.
And I would like to admit, it's extremly important to have the opportunities to develop our skills. It can help you not only do your job better but feel yourself more confident about the future.

(This page is very good)
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