Roughly 73 million millennials make up America’s largest population in the workforce. However, more than half of employed millennials (those born between 1980 and 1996) report they are actively looking for a new job. Job postings are abundant so what is it that they’re searching for?
Millennials struggle to find jobs that engage them and therefore they change jobs more often than any other generation. According to Gallup research, millennials have the highest rates of unemployment and under employment in the U.S., and only 29% of employed millennials find themselves “engaged” at work.
How Millennials Want to Work and Live, suggests that millennials want steady, engaging jobs and high levels of well-being, inclusive of a purposeful life, active community and social ties, and financial stability to afford not only what they need, but also what they want.
Often defined by their lack of attachment to institutions and traditions, Gallup reports the “Big 6” are what millennials want from a job. In return, organizations may attract this powerhouse generation.
- Purpose: Millennials want to be engaged in jobs that best align with their needs and life goals. For millennials, work is not just about earning a paycheck, work must have meaning. Compensation is important and must be fair but contrary to other generations, purpose, rather than paychecks, is the driving force for millennials.
- Development: Millennials fundamentally think about their role as a stepping stone for development and growth opportunity. Millennials place a greater emphasis on opportunities to learn and grow, as opposed to “job satisfaction,” which is commonly associated with ping-pong tables and freebies.
- Coaches: The typical view of a “boss” is a turn-off for millennials. They want to work with coaches who value their personal contribution while providing them training ground and mentorship to help them develop professionally.
- Conversation: Millennials communicate more in real-time digital conversations than ever before—they are accustomed to constant communication and instant feedback. Why wait a year for an annual review? They expect feedback and ongoing conversations on a quicker, regular basis. Research also shows that regular meetings pay dividends not only in millennial engagement but also performance.
- Ability to Maximize Strengths: Gallup’s ground-breaking discovery reveals that weaknesses never develop into strengths, while strengths develop infinitely. “This is arguably the biggest discovery Gallup or any organization has ever made on the subject of human development in the workplace,” according to Jim Clifton, Gallup chairman and CEO. Millennials seek strength-based cultures and are more engaged in such organizations.
- Value: Millennials want to work for organizations that match their values and praise their strengths and contributions, and offer the chance to “do what I do best every day.”
An organization needs to understand how to attract today’s newest talent in order to continue to grow, thrive, and evolve. Having an understanding of what matters to today’s newest recruits is an important factor in attracting and retaining this level of talent.
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please visit www.wunderlandgroup.com.