MILLENNIALS IN THE WORKPLACE: ARE YOU READY?

     

Millennials are a hot button issue for HR departments around the world. By 2025, 75% of the workforce will be Millennial and everyone has an opinion about this new demographic—entitled, worldly, lazy, tech-savvy, over-confident, innovative?

As Millennials become the majority of the workforce, it is imperative for companies to identify the trends that define the next generation. In order to remain competitive in the global talent war, organizations must align their current workplace structure with these new trends to attract and retain the best and the brightest.

Each week new research is presented that attempts to shine light on the next generation of workers. To help companies focus in on what it means to be a Millennial in the workplace, MOVE Guides has collected data from a wide range of sources to help you understand the most influential generation of workers since the Baby Boomers.

WHAT MAKES MILLENNIALS UNLIKE ANY OTHER GENERATION?

Rapidly accelerating in the workplace

  • By 2015, Millennials will become the largest generation in the U.S. workforce. (1)
  • 28% of Millennial respondents said that they are already in management positions and a two-thirds say they expect to be in management by 2024. (1)
  • 56% of Millennials said they felt they could rise to the top with their current employer. (4)
  • 58% of Millennials expect to stay in their jobs fewer than three years. (1)

Making a positive different in the world

  • Almost half of Millennials (47%) have volunteered through their workplace during the past month. (2)
  • More than 50% conveyed that the charitable causes that companies support affect where they decide to work. (2)
  • 63% of Millennials gave to charities, 43% actively volunteered or were a member of a community organization and 52% signed petitions. (3)
  • 58% of Millennials said they would avoid working in a particular industry because they believed it had a negative connotation. (3)

Leveraging technology as a tool for success

  • 78% of Millennials decision to work at a company is influenced by how innovative a company is. (4)
  • More than 50% habitually make use of their own technology at work. (4)
  • 78% said that access to the technology they like to use for personal use makes them more effective in the workplace. (4)
  • 41% say they prefer to communicate electronically at work than face to face or even over the telephone. (4)

Developing their skill sets and enhancing their personal brand

  • 51% of Millennials said feedback should be provided frequently or continually in the workplace and only 1% said feedback was not important to them. (4)
  • 71% expect and want to do an overseas assignment during their career. (4)
  • 50% of Millennials believed their organizations could do more to develop leaders for the future. (3)
  • 35% said they were interested in employers who offered excellent training and development programmes and viewed it as a top benefit from an employer. (4)

SOURCES:

1) The 2015 Millennial Majority Workforce by Elance-oDesk and Millennial Branding

2) The Millennial Impact Project by the Case Foundation

3) The Millennial Survey 2014 by Deloitte

4) Millennials at Work: Reshaping the Workplace by PwC

About The Author

Claire Beckenstein

Marketing Communications Manager