For leaders, it’s crucial to understand the changes in the workplace, as well as learn how to satisfy the specific needs and wants of Millennials who will make up 75% of the workforce by 2025.
Millennials represent more than one quarter of the nation’s population and to help you build and maintain a successful business comprised of engaged and motivated employees, we’ve gathered a list of the top surveys about Millennial Workplaces. These surveys help to shed light on the problems with Millennials in the workplace that many managers, and Millennials themselves contend with on a daily basis.
Through our extensive research, we’ve learned that problems with Millennials at work are often the result of work environments and management approaches which do not address the specific challenges Millennials face. By understanding their needs, managers can learn how to best motivate and engage Millennials on their team. For Millennials, it can help to learn what an ideal workplace is when making a career decision or advocating for improved working conditions in your current role.
These are the top 5 Millennial Workplace Surveys which reveal what Millennials expect from you as a leader and in what kind of workplaces they thrive the most:
Pearl Meyer Millennials survey
According to Itala Keller, associate account manager at Pearl Meyer, “Millennials are going to become half of the workforce and… they’re going to run the place”. The key findings from the Pearl Meyer online survey, conducted in April 2017 with human resource and compensation professionals from 84 businesses around the world are:
- Millennials are looking for workplaces that provide training and development opportunities
Coaching is Millennials’ preferred training method, followed by on-the-job learning. Despite these facts, in most organizations, the development of millennials still isn’t considered a priority. 2016 Deloitte Millennial Survey confirms this finding. The surveys indicated that those Millennials intending to stay with their organization for more than five years are twice as likely to have a mentor (68%), than not (32%).
- Millennials want to receive regular feedback
Enabling Millennials to do their BestWork includes having meaningful and frequent conversations about their performance and areas needing improvement.
- Millennials want to understand how their work contributes to the organization’s mission and overall goals
Millennials in the Workplace – Which Stereotypes are True?
Another survey of 600 individuals between the ages of 18-65+ conducted in March of 2017 by Fit Small Business shows what Millennials want from their workplace compared to other age groups.
- Twice as many millennials are currently looking for a new job compared to other generations
To succeed in this new era of Millennials dominating the workplace, employers should focus on finding way to improve employee engagement and increase employee retention. One key factor in preventing job hopping from Millennials is to provide them with learning and development opportunities.
- Millennials are looking for better work-life balance
Millennials are looking for greater flexibility in terms of work hours and the freedom to work from remote locations. This increases their motivation and commitment to their job, when they are able to make it fit with their lifestyle.
Link to the Survey: https://fitsmallbusiness.com/study-millennials-in-the-workplace/
Millennial Careers: 2020 Vision
Manpower surveyed 19,000 Millennials, including 8,000 ManpowerGroup associate employees and more than 1,500 of their hiring managers asking what they look for in a job, what development opportunities they seek and what would make them stay with an employer. It’s quite a comprehensive study to help address the problems with Millennials at work.
The results from Manpower’s Millennial Career Vision Survey reflect the findings of the Pearl Meyer Millennials survey.
- Millennials are looking for learning opportunities and career growth
Millennials want new opportunities with their current employer and not the next. Sixty-three percent intend to stay with their current employer for the next few years or longer if they are given opportunity for learning and career growth.
- Millennials value working with great people, as well as the opportunity to work flexibly and develop new skills
- Performance reviews (feedback) and regular conversations about career opportunities increases employee retention
Manpower’s Millennial Career Vision Survey also highlights Millennials’ need for regular feedback. As we’ve noted, communication and coaching are vital for engaging Millennials employees. Employers can improve employee engagement and increase their commitment to the organization by offering more frequent, face-to-face feedback.
Workforce of the future: The views of 10,000 workers
10.000 working, unemployed, retired and students split evenly between five countries (China, Germany, India, the UK and the US) shared their feelings, predictions and hopes for the future of work and the kinds of organizations they would work for in PwC’s 2017 survey. Of the 10.000 workers surveyed, 38% were Millennials, born 1980–1995 (age 22 – 37).
- Nearly a quarter of respondents value flexibility and being in control of the work they do and when.
- Millennials are looking to find better employment and 79% of them are willing to enhance their mind and body for that reason. They want to take a holistic approach to work.
- The results show that Millennials are the most confident generation with 62% claiming entrepreneurial abilities.
State of the American Workplace, Gallup 2017
The State of the American Workplace delivers thorough analytics and advice on the changing workplace, using data collected from almost 200,000 U.S. employees from across organizations in a wide variety of industries. Looking across a wide range of organizations, they revealed what Millennials in the workforce are looking for:
- Most workers, many of whom are Millennials want their work to have meaning and purpose.
This is a common theme of the surveys we evaluated. Millennials thrive in a work environment where they know their efforts have a clear meaning and support the overall mission of the organization.
- Millennials state that having a job that accelerates their professional or career development is very important
They want to continuously learn something new, develop and improve. Training for Millennials is a critical practice which needs to be implemented in order to improve employee engagement, and ultimately ensure an organization’s long-term survival and competitiveness.
- The benefits millennials rated as most important include health insurance, paid vacation, retirement plans, education and flexibility in working conditions.
These benefits closely align with those that other generations seek, but the difference lies in the fact that Millennials are more willing to change jobs for a specific benefit as opposed to Gen Xers and Baby Boomers who are more likely to stay put.
- Millennials seek ongoing feedback.
Employees are 3.5 times more likely to be engaged if managers have more frequent conversations with them. This form of informal performance review allows employees to see if their work contributes to the achievement of an organization’s goals and learn new ways to improve. The survey cites that “the process creates buy-in and helps employees define success in their roles.”
Link to the survey: http://news.gallup.com/reports/199961/7.aspx
We hope these surveys provide further insights on managing Millennials and helping address the problems with Millennials in the workplace. Connecting the passion of Millennial employees to the goals of your organization, and providing consistent feedback is crucial to improving Millennial employee engagement, retention, and in the long run, the results of your business.