In this article you will know who are the millennialswhy they are different from the rest of the generations and what motivates them at work.
Have you ever wondered why young people don’t seem to be driven by the same things that motivated older generations?
For example…why don’t they want to work the same way? A stable job that guarantees a fair salary; a career in constant growth; economic security and even prestige… This no longer seems to be enough to retain young talent in large companies.
Who are the millennials.
Millennials are the generation born between 1980 and 1995. The term was coined by William Strauss and Neil Howe, authors of the books Generations: The Story of the American Future, and Millennial Awakening: The Next Great Generation.
The word Millennials has its origin and explanation, by the people who were going to face the year 2000, or new millennium, in their youth.
Hence the age profile can be a bit blurry. However, between the early 80’s and mid 90’s, it is a widely accepted range.
This generation is changing the landscape of many companies. Let’s look at the case of PwC.
2 out of 3 employees in this company are “Millennials” whose age range varies between 20 and 30 years. Within this group, the majority are single (75%) and without children (92%). Every 3 out of 4 employees got this job right after they finished college.
This multinational began to notice that the younger generation of professionals left this company more quickly a few years after joining.
Most of them seemed to lack interest in the traditional career path that requires a high work commitment early in their career and put off getting married to meet these goals.
As a result of this trend, PWC, the University of Southern California and London Business School; They conducted a study that captures the different “rules of the game” that are influencing this new generation.
Characteristics of millennials.
1. Millennials aren’t convinced that the excessive work demands are worth the sacrifices in their personal lives.
The volume of work at companies like PWC can come with considerable work demands, especially at certain times of the year. Working hard in these periods with the idea of having benefits on the job scale does not seem to convince this generation that this sacrifice is really worth it.
Millennials view the balance between work and personal life with suspicion. Most of them are not willing to commit to making their job an exclusive priority; even with the promise of substantial compensation in the future.
2. They are not alone in wanting more flexibility at work.
Millennials want more flexibility in their work schedules and want the option to choose when to start work. Even have night hours if necessary to run it.
In fact, a significant number of employees of all generations are strongly motivated by the idea of flexible working hours; so much so that they are willing to forgo pay incentives and wait a little longer for job promotions in order to make it.
The similarities in attitudes across generations are striking. For their part, Millennials do not believe that productivity should be measured by the number of hours worked in the office; but by the results of the work done. They see work as a “thing” and not a “place.”
3. They say that creating a strong, team-oriented culture that provides them with interesting work opportunities, including job options around the world, are critical to their happiness in the workplace; in line with their non-Millennial counterparts.
Teamwork, work culture and a sense of belonging to a community are priority aspects for this generation of millennials. Transparency, especially regarding decisions about your professional career, compensation and benefits; they also seem to play an important role in the decisions of these people.
Millennials want to have a say in work assignments, want and need support from their supervisors, are more aware of the world around them, and don’t rule out working abroad.
All of the above statements are also valid for non-Millennials, except for the idea of going abroad; They look at her with suspicion.
4. Most, but not all, of the stereotypes about Millennials are false.
Despite a reputation to the contrary, Millennials are workers who share similarities with older generations in the workplace.
They have developed their career without expecting the organization to which they are a part to meet all their needs. And they don’t see themselves working for just one company throughout their entire career.
Additionally, despite the fact that this young generation has a natural aptitude for electronic forms of communication, emails and social networks; these are not the main communication vehicles they choose when discussing their career.
Likewise, although there is a common perception that Millennials are not as committed to their work as their older colleagues; this study revealed the opposite, reaffirming that they feel equally committed to their work.
5. Their attitudes are not universal, they may vary depending on their geographic location, although there is similarity between communities in the United States, Canada, and Western Europe.
There are differences and similarities of this generation around the world. For example, those Millennials who are members of PwC aspire to have a good balance between work and private life.
However, this issue is particularly important for those residing in North America, Europe, and the Eastern region, where this balance has a stronger influence on turnover, engagement, and job satisfaction than in other parts of the world.
Additionally, those millennials in the countries of the eastern region, place greater value on information about assignments that would improve their personal development in the same way that their non-Millennial colleagues do.
6. Although the incentives for the retention of Millennial and non-Millennial employees are the same, the former require more emphasis on being supported and appreciated.
While the reasons for staying or leaving the company are practically the same for both generations, their relative importance differs between them.
Millennials have a higher expectation of being supported, appreciated, and being part of a cohesive work team, as a result of their contributions. Flexibility in where, how and how much they work is a key factor in satisfying the younger generation.
This point of view differs from the vision of non-Millennials, who attach greater importance to salary and development opportunities. Millennials from developed countries expect PWC to create a work environment that allows them to progress both personally and professionally.
Do you feel somehow identified? Well, you are not alone, times change quickly and even large companies have had to diversify their work culture in order to retain their talents.
In addition, there are endless new opportunities for those who want to go in search of an excellent balance between work and personal life.
Whether you’re the entrepreneur or the employee, it’s important to keep these generational shifts in mind, whether it’s evaluating your strategy at the employee management level or appreciating your own needs and creating innovative ways to keep employees engaged and keep yourself. and them performing to the maximum.
And remember, if you are really interested in creating your own business, you can read our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
