Millennials are an intriguing demographic.
Employers are often scratching their heads, trying to better engage with them to meet their unique set of needs.
What exactly do millennials want in their careers? How do I better retain my top millennial talents?
This article extracted key findings about millennials’ concerns and motivations towards careers. The findings are found in the 2017 Deloitte Millennial Survey. You can find the full report here.
Each section starts with the general findings that the survey has found. This follows with some key takeaways that I have gathered from the insights.
So, what makes millennial employees tick?
Millennials and Empowerment
Millennials feel a great sense of control as an active participant in the workforce. They also feel most influential and accountable when working.
Businesses that provide a sense of empowerment can create a more positive mind set among employees. This also helps with greater long term development for the millennial employee.
Outside of work, millennials also want to be involved in ‘good causes’ and Non-Profit Organizations. This helps millennials to feel empowered and influence the world around them.
One cannot see Millennial employees as simply cogs in a machine. They have a strong sense of pride for their employment. The level of empowerment different job offers will be a key factor for millennials during their job search.
Businesses should actively seek to empower them and offer suitable development opportunities. This will help business retain good talents within the company.
Millennials and Societal Impact
Millennials today believe that majority of businesses have a positive impact on society. They also have improving perceptions of how businesses conduct themselves in today’s society.
Yet, there is still room for improve for large businesses. Large businesses are not thought to be fulfilling their potential to improve society’s challenges.
Societal impact and corporate responsibility are also important factors millennials consider during their job hunt.
Businesses have to invest in their societal contributions. This appeals to future millennial stakeholders, and will gain their trust and loyalty.
After successfully attracting millennial employees, it is also important to provide community engagement opportunities.
This will lead to an increase in level of loyalty, optimism about society, as well as a greater positive perception of the business.
Millennials and Stability
There is a significant number of millennials who intend to leave their current jobs soon.
Yet, there is also an increasing percentage who seek greater stability in their employment.
What can explain this slowing trend of freelance and consultancy work?
This is likely due to rising flexible working practices within the workplace.
These flexible working practices include flexible time, role, recruitment and location.
It is also shown that flexible working practices have many benefits. These include higher levels of employee loyalty, productivity, engagement and accountability.
It seems that despite the rising trend of the gig economy, majority of millennials today still prefer full time employment.
However, the traditional model of full-time employment is increasing obsolete.
They prefer a hybrid model: full-time work with flexible arrangements.
For employers, flexibility in working practices are integral to meaningfully engage millennial employees.
This can also spur them to produce better work for the company.
I hope that this article has given you a better understanding to what millennials want from their work and careers.
To better engage with them, do try to work on fulfilling these needs if your business is not currently trying to.
For millennial readers, did the above strike a chord with you?
How much do you agree with the above points? What other factors are important in your career search?
Enjoyed this article?
What better way to keep updated and receive exclusive content from DGG Resume than to sign up for our newsletter!
We have other articles that you might be interested in as well! Explore them here:
If you appreciated this article and enjoyed the tips, do give us a like on our Facebook page and share this article with your friends!