Millennials, defined as the generation born between 1982 – 1999, are one of the largest generations in the workforce. Millennials are now becoming more established in their careers and are looking to advance quickly in their careers. Research done by Gallup shows that millennials are the driving force behind changes in the workforce. As major advocates for change, millennials are pushing for the workplace everyone desires, but many are too afraid to speak up about. The following are just some of the ways millennials are changing the workforce.
Gone are the days where individuals spend 30-40 years with one company. In today’s industries, individuals in human resources are seeing candidates with two-year stints at various companies. Millennials keep their options open when it comes to taking jobs and are actively looking for a new job or watching for job openings at companies that offer better pay, better benefits or a better working environment.
One of the biggest reasons millennials leave a company after less than two years doesn’t have to do with gaining experience in different industries, it has to deal with the salary they are making. Millennials want to be fairly compensated for the work they are doing and an increase in income is important when they are considering new career opportunities. If companies are not willing to compensate their workforce correctly, they end up losing them to a company that will pay more and offers better incentives to their employees.
Millennials aren’t looking for free memberships, free office snacks, and free coffee; they are looking to work for companies that have similar values to theirs. They want better health insurance, paid vacations and companies that match their 401k plans. They are also looking for an office setting that allows them flexibility and the ability to lead a better life both inside and outside of the office
Millennials seek a work environment with ongoing feedback and communication. They are looking for companies who establish their goals and offer collaborative work settings. Millennials what to be heard and want to know that expectations are fair, relevant and challenging. Informal check-ins with managers allow employees to see that their day-to-day work is linked with the organizations’ goals.