Understanding the Mindset of Millennial Employees
–Millennials or Gen-Y is the name given to people born between the early 1980’s and mid 1990’s, meaning they range in age from 20-35, so are all now of working age. A recent PWC report said that by 2020, 50% of the workforce in the US will be millennials and by 2025 it will be 75% globally. It is an age group that has grown up with access to the internet and been surrounded by technology, which has changed how they communicate, learn and engage with others. This has also changed the amount and variety of information they have access to, which has broadened their viewpoints and outlook. All of this has made the way that Millennials think and act different from the generations before them, which has impacted their attitudes to work and their ways of working. More importantly, the Mindset of Millennial Employees is now being adopted by other age groups, meaning businesses need to take notice more than ever before if they are to retain a competitive edge going forward.
Millennial Employee Research
Survey undertaken in January 2015 with white collar, professional Millennials. Out of the 374 respondents, 45% were female and 55% were male. 72% were aged 29-34 with the remaining 28% coming from the 18-28 age group. 62% of respondents were from companies with 500+ employees, 32% from SMEs and the remaining 6% from small companies (<10 employees) and sole traders. 81% of respondents were either at manager or director level, 2% MD/CEO, 6% were business owners and the remaining 12% were at a junior level. Please note that all percentages have been rounded up to the nearest percent.
Ways of Working
Attitude to Work
What is the most important aspect when considering where you work?
OPPORTUNITY FOR PROGRESSION
VISION AND VALUES
ABILTY TO LEARN
What type of feedback do Millennials Prefer?
TRAINING THEY CHOOSE
COMPANY LED LEARNING
Deloitte 2016 Global Millennial Survey
I was delighted to be referenced in Deloitte’s latest Global Millennial survey (pg 22), about Millennial’s preference for flexible working and trust. Released in January 2016, Deloitte’s fifth global Millennial Survey focusses on Millennials’ values and ambitions, drivers of job satisfaction, and their increasing representation on senior management teams. These findings are drawn from nearly 7,700 Millennials representing 29 countries around the globe and closely echo the findings from my own research.