Digital Transformation Through Agile Delivery
IT Agility AbilityTM
Digital Transformation Through Agile Delivery
IT Agility AbilityTM

What do Millennials, or Generation Y, Really Want from the Workplace?

By . June 30, 2021
A Millennial is someone born between 1980 and 1996 – in other words anyone currently 40 or under, and whose generation, increasingly, will make up the majority of the working population. According to research, Millennials earn 20% less, on average, than their parent's generation, have double the student loan debt and make up the majority of managers across America and Europe. They are also likely to have almost double the number of jobs as their parents during their working lifetimes, moving employers up to 20 times.  Understanding Millennials and what they want from the workplace is therefore key for firms aiming to retain a happy and committed workforce. According to a survey by Software Advice, Millennials want:
  • A good salary but with work-related benefits – while money is still important, more than a third said benefits were also a consideration.  They cited financial wellness schemes, such as access to financial advisors to help cope with debt and invest for the future as important.
  • Culture and atmosphere – 31% of Millennials say they need to like where they work.  A comfortable, bright and innovative workplace was key, they said.
  • Work-life balance – this is a high priority for Millennials.  Many believe flexible hours, home working or summer hours (half day on Fridays in the summer) will allow them to better juggle personal and family life with their jobs.
  • Fulfilment and satisfaction – 30% of Millennials say they need to enjoy what they do.  Whilst the office set-up is important, Millennials want to feel part of the business and see that there is a common cause everyone is working towards.  Devising programmes to help them constantly learn and develop, so they can advance their careers and feel secure in their role is just as important as for previous generations.
  • Growth and development – 25% of Millennials say growth and development at work is important.  According to a study of 8,000 Millennials, carried out by consultants Deloitte, 53% also wanted to achieve managerial status, which belies the idea that they are content to hop from one job to another. Another study, by PwC, found Millennials preferred the stability of job security compared to a life in the gig-economy or freelancing.
On the whole, recent research found that what Gen Y really wants is to make a good living.  But they also want to find happiness, fulfilment and opportunity in their work, and ‘to build the foundation for a career that rewards in ways beyond the mere financial.’



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