What Millennials Want From A New Job And Employer
Millennials expect a lot from their new employers and their new jobs, and it has nothing to do with money. In fact, it is estimated that they earn 20% less than other generations since money is not a priority for them. Here at http://bitgale.com/, we have carefully researched what millennials want in the workplace. We have prepared this short list for you.
They Want Defined Goals And Constant Reassurance
One thing that millennials demand at the workplace is a boss that frequently communicates with them. They expect their supervisor to give them feedback when they do something at the workplace. It is more than any other generation before them. Companies need to strike the right balance right from the start to achieve this.
When a millennial first shows up for a job, you want to give them specific targets and goals that they should achieve. However, after that, they want to be left alone and accomplish it their way. Hence gain a sense of accomplishment, and thus are more likely to stay on.
Even though they want constant guidance from their bosses, they need to feel that the leadership is invested in tier success. After the first 90 days, they need to feel that they have some autonomy in the workplace. It is in line with the helicopter parenting they received as kids. When you qualify their achievements, no matter how small, it makes them feel that they can achieve anything in life. After they get this reassurance, you can leave them to work autonomously after 90 days.
They Expect Loyalty From Employers
Millennials early on developed a reputation for company hopping. In fact, that may not be true. It has been found that only about 30% of millennials engage in job-hopping. This group has had more than three jobs in the past five years.
The same study found that about 67% of millennials consider loyalty to their employer as vital to them. Besides being loyal to their employer, they expect the same from them. They do not want to be just a number at the workplace. From various studies, it can be deduced that as long as an employer’s values and benefit programs align with the millennial, he or she will be loyal.
They Need Retirement Investment Options
This generation grew up during the great financial crisis of the start of the 21st century. Studies show that only 10% of millennials would remain in the same career if they knew it would give them enough money for retirement.
They desire to have their employer offer them retirement options. It has been a fundamental desire for most generations. Since they grew up during the recession, it is even more critical for them to know that they will have enough for retirement.
Social Impact Matters To Them
Millennials have been nicknamed the giving generation, things such as charitable work and volunteer work matter to this generation at the workplace. A study found that about 82% of millennials say it is crucial for a company to promote the wellness and health of its consumers.
If a company wants to attract millennials, it has to ensure that they have investment options in their retirement programs that have a social responsibility embedded in them. It is especially so when considering the well-being of minority groups. Companies need to focus on positive social impact if they employ millennials.
The Environment
Most millennials grew up in the era of environmental consciousness. They want to ensure that the companies they work for have programs in place to care for the environment. For instance, a company that uses solar power to power its building is quite attractive to them. They also want the companies they work for to source for products in an environmentally friendly manner.
Flexible Working Hours
Millennials do not want to work for companies that have a rigid 9 to 5 schedule. For millennials, they do not want their success to be measured by how many hours they spend at the workplace but their output.
There are already many top companies have taken flexible working hours to heart. They now have a flexible working schedule, and it seems to work great for them. In a recent study, it was found that millennials are willing to give up a good job or delay promotions just to achieve this.
One extreme example of this is an unlimited vacation policy. Companies like virgin are combining flexibility with unlimited vacation offers. Employees have the right to take as many vacations as they need. They only need to ensure that they coordinate with their teams and deliver their goals.
The Chance To Grow
Most millennials want a working environment that can help them improve personally and career-wise. They do not want to feel comfortable in a job that offers no opportunity for personal growth. It is thus essential for employers to have programs in place to help employees grow.