In the last five or ten years, the workforce has started to take a dramatic shift. The so-called “Millennial” generation has begun to grow within businesses. They are becoming the dominant generation within most companies, increasing until they become the majority of the leaders, entrepreneurs and ultimately customers in our society. As an employer, it is important to begin to understand the expectations of this generation, in order to maximise your opportunity to attract the best talent. So what is it that this generation expect? What is it they are looking for in an employer? Here is a list of the top aspects that a typical Millennial is looking for in an employer.
The Right Purpose & Values
Various studies have shown that this generation has a strong belief in personal values, they crave purpose. So, much so that they expect their employer to be some reflection of the values that they hold. This means that they search for potential businesses to join that have a similar set of values to themselves. Values-driven organisations are a lot better placed to attract the best talent than those who have no commitment in this regard.
A Chance to Grow
One of the most fascinating aspects of how millennials see work is the fact they place development and learning above financial reward. In a survey carried out by PWC it was found that learning and development came out as the number one benefit they look for in employers. They look for the opportunity to grow and move forward. In addition their number one method for support in this area is via a coach. They are also eager to take on mentors to help them develop.
In the same survey as above it was found that the second benefit they looked for was flexibility in their working. Financial reward came in third, after the ability to work flexible hours and have the opportunity to work from home if that is needed. They placed this work / life balance as a highly important element of what they would look out for in potential employers. This flexibility also extends to their career paths. They look to follow their interests, wants and needs. This means for employers it is important to create an environment that keeps them stimulated and free to explore.
Access to Technology
For someone who has grown up surrounded by technology, it can seem very odd that when you work in a company they don’t embrace it. Millennials expect that technology and its benefits are as ubiquitous at work as they are at home. In fact, this generation prefers electronic communication over face to face. It is crucial to strike the right balance with your technology in order to retain young talent. Their personal world will constantly be evolving with whatever the new technology is, successful companies need to endeavor to do the same.
The Opportunity to Make an impact
Similar to their search for values within a company, millennials also look for the opportunity to make a real impact on the world. This is a key driver in this generation. They have the drive to make a difference in some way. They also believe that businesses should look beyond their bottom line. It is essential for them to be part of something they believe is having a social impact.
Attracting and retaining the best talent from the millennials generation is possible. However, in order to do it right, it is important to understand their expectations. Taking the time to recognise what they are looking for from an employer you can make the changes that will ensure you can keep growing as a business.