Are you meeting millennial expectations?

08.29.16

THE SECRET TO PUTTING THIS GENERATION TO WORK

2015 marks the year when Millennials became the largest generational segment of the workforce. Some older millennials are also ascending into management roles. Many company leaders seek to understand what makes this generation tick so that they can better attract, engage and retain these younger workers.

ABOUT THE STUDY

24 Seven is one of the only talent recruitment and management firms that engages an outside research firm to conduct an annual study of the job market. As part of the 2015 study, 24 Seven engaged almost 400 Millennial workers (15% of whom manage others) to provide insights to their attitudes and behaviors on the job, in their career planning, and around making job changes.

MILLENNIAL STUDY HIGHLIGHTS

  • 75% of Millennials surveyed are planning to switch jobs in the next year
  • Millennials believe that it’s acceptable to put in slightly less than a year and a half into a job before moving on – significantly less than the over two years that Boomers believe is acceptable
  • Salary plays a primary role in Millennial wanderlust, attrition, engagement and in their personal measurement of career success
  • Confident and always connected, Millennials are optimistic about their chances in the current job market and report that it’s easier than ever to find new opportunities
  • Millennials are more likely to report that they’ve been approached even more frequently by potential employers than other generations in the last year
  • After salary, second in the top five reasons to change jobs is more opportunity to learn new skills or job functions
  • Millennials are particularly upwardly mobile, anxious to ascend the corporate ladder quickly, and seek clearly- articulated, fast-moving career paths
  • More than any previous generation, good work/life balance is a base expectation of any job Millennials would consider
  • Among the top measurements of career success, Millennials listed their status/level at company and skills mastery
  • When it came to engagement, Millennials named interesting work and projects that they feel make a difference among the top factors
  • Our study found that who the immediate manager is ranks among the primary filters Millennials use when considering job offers
  • The role of the immediate manager had a significant impact across several talent management measures for Millennials, including retention, engagement and more
  • Millennials agree with older workers about top soft skills managers should possess, but put a higher emphasis on the additional skill of creativity
  • When it comes to assessing company culture, work/ life balance is the primary lens Millennials consider
  • Other cultural characteristics more important to Gen Y are physical work environment and a company’s proven commitment to diversity
  • Varying by age, there was additional emphasis placed on cultural features like Business Vision & Mission and a commitment to Sustainability
  • With their unique energy and characteristics, the Millennial generation, like the generations before it, is poised to evolve the workplace for the better

TO GET FULL MILLENNIAL FINDINGS

For more information or to have the complete study results presented in person at your office, contact marketing@24seveninc.com. WWW.24SEVENTALENT.COM


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