Understanding exactly what “kids these days” want from an employer has been a hot button issue for the last few years, especially as Millennials have been entering the workforce in larger numbers.
This new generation, like previous generations, is coming into the workplace with their own goals, hopes, and dreams. Companies are rushing to adjust to the change in the labor pool, and with good reason.
Forbes reports that an estimated 75% of the workforce will be made up of Millennials by 2025.
Companies realize that making an adjustment has become more important now than ever before.
The idea that a new generation wants something different from an employer should not be a troubling thing. Some companies have tried going the route of fun office perks like bean bag chairs, beer at the office, and free gourmet coffee. However, that’s not necessarily the direction that all Millennials are looking to go.
Many are much more interested in things like:
- workplace flexibility,
- corporate ethics,
- and personal improvement.
Millennials are looking to the workplace of the 21st Century, and that means flexibility.
Studies show that the most important thing that Millennials are looking for in an employer is flexibility. WiFi is everywhere, so employees can easily (and want the opportunity to) work remotely. This doesn’t mean young workers expect to be paid full-time wages to work from home a few hours a day, but rather they want the option to work from home when “life happens”. Meeting this demand is hardly without benefit for the company, as Inc Magazine reports that flexible scheduling can increase both worker loyalty and organizational performance.
Flexibility means even more than opportunities to work from home.
One of the most common things that Millennials are looking for in employment is a healthy work-life balance.
Many younger workers are starting to embrace the idea that once they clock out, they’re done for the day unless there is an emergency. This desire for time off isn’t because they are a generation of “lazy, entitled brats,” as some seem eager to label them. It’s more to keep themselves motivated.
The double edged sword of the internet is that work follows you everywhere, and when work is everywhere, it’s easy to burn out. “Work life balance is key,” said Sarah Collmus, a Millennial and Engineer with General Electric, “as a healthy and happy person can do better work and won’t be as likely to be resentful against their company.”
Yet while Millennials want the some of the flexibility of a freelance job, they definitely don’t want the uncertainty.
Stability is also extremely important to young workers.
Most Millennials entered the workforce either just before or shortly after the Great Recession, so many have spent a great deal of their working lives underemployed. This has led to a staggering amount of pessimism in the young American worker. According to Deloitte, a majority think that this generation will make less money than their parents. Millennials want a steady paycheck for an honest day’s work just like anyone else.
What else are Millennials looking for? Continue reading Part 2 of this blog series to find out!
What do you see Millennials looking for in an employer? Share your thoughts with us on Twitter @LTronCorp.