Millennials are taking the world by storm, reshaping the workplace and changing global society, as we know it. By 2025, 75% of the workforce will be Millennials and more than any other generation before them, they expect to live and work abroad (Deloitte).
Commonly referred to as tech savvy, highly mobile and independent, their behaviors in the workplace can often be misinterpreted by their employers. In our new resource section, MOVE Guides breaks down six common myths about Millennials to help employers approach the changing workforce demographic in a manner that benefits their company and empowers their employees.
See below for highlights on our 'Millennial Myth Busting' white paper and don’t forget to read the full article located in our resource center!
1) MYTH: Millennials are difficult to manage
Millennials are often depicted as less respectful towards authority than previous generations, but research shows otherwise. With regards to “Deference to Authority” or disrespect, Millennials were more likely than other generations to strongly agree with the following statement “Employees should do what their manager tells them, even when they can’t see the reason for it.”
Compared to previous generations that expected formal annual reviews, Millennials also want and value regular feedback to highlight what they are doing well and what can be improved.
2) MYTH: Millennials have an overinflated sense of entitlement and only care about rewards
Millennials prefer purpose to perks. They regularly seek out opportunities for career development, which is why they appreciate honest, real-time feedback. Companies can look into offering resources that encourage Millennials to grow professionally, such as training sessions or mentorship programs.
3) MYTH: Millennials are disloyal to their company
Average tenure for Millennials is around two years, compared to five years for Gen X and seven years for Baby Boomers. Despite theses figures on tenure. loyalty itself is not the problem for Millennials. Globalization, youth, career expansion or lack of opportunities are the key reasons that motivate Millennials to move companies. They want the best deal for themselves and they understand that there are companies out there with appropriate benefits and career opportunities.
4) MYTH: Millennials are uninterested in world affairs
Millennials are very eager to make a positive difference in the world. According to Deloitte’s 2014 Millennial survey, “Millennials believe the success of a business should be measured in terms of more than just its financial performance, with a focus on improving society among the most important things it should seek to achieve.”
Millennials are also very charitable and seek out opportunities to give back to their communities. According to Deloitte, 63% of Millennials donate to charities, 43% actively volunteer and 52% sign petitions. Companies can benefit from this with corporate social responsibility and encourage team building volunteer programs that engage their Millennial employees.
5) MYTH: Millennials don’t work as hard as previous generations
Technological advances, not lack of work ethic, have significantly changed the traditional 9 to 5 work life balance and are creating greater work flexibility. Computers, mobile devices and working between countries and time zones have all contributed to new work standards.
Millennials are always connected, and according to SDL’s market survey, they check their phones on average 43 times a day. Millennials may leave the office at six or go on vacation with their family, but can still respond to emails throughout the day or join a conference call from home during late hours.
6) MYTH: Millennials are too technology focused
Millennials are the first generation to have grown up with mass technology and social media. These skills create opportunities to meet new people, learn new skills and drive global expansion. Companies should use their connectivity, knowledge and social networking skills to their advantage. In addition, companies should consider reverse mentoring and turn to Millennials for advice on tech and social media.