By 2015, more than 50% of all employees worldwide will be born after 1980. By 2025, this number is set to grow to 75%.
The Millennial generation is a unique, fickle generation created as a by-product of “ Baby Boomer” parenting and years of prosperity. Some label them “entitled”, others see it as “self-confidence” Some see poor work ethic, yet others a complete and balanced life.
85% of hiring managers believe this group has a stronger “sense of entitlement” than their older counterparts. Too bad they are becoming the minority. Even though you may not like it, they are the future of the workforce and you’ll have to adjust to their different work and career values. You have no choice!
Here are some interesting Millennial stats according to the 2013 Millennial Impact Research Report. It challenges old school perceptions that Millennials are lazy and expect everything to be handed to them.
· 65% said that success in a high-paying job is one of their most important lifetime achievements.
· 70% of Millennials are unwilling to endure unpleasant workplace conditions just to achieve career success.
· But they are willing to make sacrifices for this success.
· 84% are willing to make a lateral move to a different department within the organization in exchange for better workplace conditions.
· 69% are willing to travel frequently and 68% will relocate
· 53% will work long hours and weekends
· 54% will place their children in daycare
· 53% will take a lower-paying or unpaid job or internship for the experience and connections.
Millennials are motivated by meaning.
· 77% of Millennials stated that their ability to excel in their job is contingent upon deriving meaning from their work.
· 84% agree with this statement “knowing I am helping to make a positive difference in the world is more important to me than professional recognition.
Millennials will challenge structured company hierarchies, yet still want a relationship with their boss.
Millennials are tech savvy and want to use it.
· 53% of millennials said they rather get rid of their sense of smell than their digital devices.
· 56% saying they would not accept jobs from companies that ban social media.
Millennials are open to change
· 45% of Millennials will choose a workplace with more flexibility over one with higher pay.
Millennials are task (not time) oriented.
· 69% of Millennials say they believe office attendance on a regular basis is unnecessary.
· 89% prefer to choose when and where they work rather than being placed in a structured schedule.
Millennials have a hunger for learning
· 95% of Millennials said that they are motivated to work harder when they understand the why and the importance of a particular task within the context of the company’s goals.
Millennials crave constant feedback
· 80% of Millennials said they want to receive regular feedback from their managers.
Millennials want recognition
· 89% of Millennials expect recognition for their hard work and accomplishments saying a reward should be given for a job well done.
Millennials want (expect) to have fun in the workplace or with coworkers!
· 90% of Millennials want their workplace to be social and fun, and 88% say that a positive company culture is essential to their dream job.