If you’re a baby boomer like me the concept of “having it your way” in the workplace is hard to grasp. But not only baby boomers are perplexed by work expectations imposed by millennials, identified as those born between 1980 and 2000. A Pew Research Study revealed that out of the last four generations they are the first that do not place work ethic on their list of values. Millennials are 87 million strong and outnumber the next largest group, baby boomers, which claim 76 million. Their diverse composition makes them unique as well. Currently the majority of US workers are millennials and by 2020 they will occupy over 50% of the global workforce.
Millennials are confident, adaptable, and optimistic. But mostly they’re connected. With a keen affinity for technology and an inbred social media relationship their generation stands apart. Access to instant information is the norm. Due in part to their technical savvy but also because of the economic crisis that coincided with their coming of age, their worldview and priorities differ from their predecessors.
The Department of Labor Statistics reports that 58% of millennials expect to leave their job in 3 years or less. Unlike previous generations where the ideal was to stay with one employer, millennials have a different paradigm. They focus less on working for income and purchasing power and more on passion for their work. If not connected to a cause they don’t mind changing employers or even careers. There’s no hurry to buy a home or car. They prefer access to ownership. Many, burdened with student loan debt, are in no position for such financial commitments anyway. Millennials are the most educated generation in history but they are also the most narcissistic. “The 2015 Millennial Majority Workforce Report” distributed by Elance-oDesk, a branding firm from Mountain View California says, “Millennials are poised to drive the future of business.”
Software giant Intuit’s survey tells us that a non-traditional approach to work is on the rise. It concluded that by 2020, 40% of the American workforce will be freelancers, contractors, and temporary workers. This allows for flexibility, which is paramount to millennials who will often pass up a fatter paycheck in favor of personal fulfillment. Work/life integration (not balance) is key with both factors being intimately intertwined. Keeping traditional working hours is no longer the norm. An American Psychological study found that over 50% of Millennials check messages before and after work as well as weekends, 44% do so during vacation. A majority sleeps with a Smartphone within reach. In spite of the fact that they are innately health conscious with 83% disapproving of smoking and 24% saying they exercise and eat healthy every day, they are sleep deprived. Six and a half hours is their daily average as opposed to eight for Generation X.
“I can work from anywhere,” they say and their voice is commanding attention. Telecommuting is taking off like a rocket with many companies willing to accommodate workers at home or in locations of their choice. Co-working spaces have become increasingly popular and are springing up in towns everywhere including our own.
55% of managers state they consider hard skills first when hiring millennials, a change from when attributes such as attitude and communication skills took precedence. An Educational Service Survey published in the April 2015 edition of AARP magazine revealed that millennials had three specific areas of weakness: basic math, literacy and problem solving skills. Adults between the ages of 16 to 65 years from 23 countries took part in this survey. US millennials ranked last (along with Italy and Spain) in basic math skills. I suppose having a Smartphone to run your calculations has its pitfalls.
Employers who attract millennials are those that respect their busy lifestyles and provide perks such as childcare, gym memberships, relaxed dress codes or even policies that allow your pet to accompany you to work. They are flexible, open and progressive with a “think outside the box” approach.
Lastly, there is a disconnect between job openings that go unfilled for lack of candidates while job seekers seek employment to no avail. Is the system broken or is something else going on? It is something to consider. Undoubtedly millennials will profoundly influence the way we do business, as their influx into the workplace is massive. Traditional mores will be cast aside