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Millennials: Alterior Lifeform or Fellow Prioritizer?
November 13, 2007
A second look at the career priorities of the incoming working generation
By Stacy Straczynski
What do you think of when you hear the term "Millennial?" Probably words such as "young," "flighty," and even "career-unfocused" come to mind. But have Baby Boomers and Gen Xers been too quick to misjudge and dismiss the incoming workforce's mindset?
A new study from global staffing and consulting service company Robert Half International and Yahoo! HotJobs says that may be the case—and the generational gap might not be as wide as first thought. Their recently released research, "What Millenials Want: How to Achieve and Retain Gen Y Employees," reveals that Generation Y workers—those aged 21 to 28 who are frequently referred to as "Millenials"—share many of the same career concerns as their older colleagues, including health care plans, retirement planning, job satisfaction and work-life balance.
The survey that polled over 1,000 male and female Millennial individuals found some enlightening information. Contrary to prior reports and studies, the data polled from over 1,000 Millennial individuals found some enlightening information. "The research depicts a pragmatic, future-oriented generation that holds many of the same values as its predecessors," says Reesa Staten, senior vice president and director of workplace research for Robert Half International.
Here are the top take-aways:
• Company leaders have an obligation in the eyes of Millenials. In fact, the 20-something workforce prizes having a boss they deem as a mentor, one they respect and learn from. As opposed to what one would think, this texting and IM-ing crowd desires increased face-time from their direct supervisors and expect daily interaction. This factor takes precedence above work environment, commuting issues and company image.
• Success isn't based on titles and corner offices. A large percentage (46 percent) of this crowd is optimistic about the job market and see that they have more opportunities than previous generations. However, Millennials also see the dark cloud of future issues—such as health care and retirement—and know they will have to save more and work harder than their older co-workers. Gen Yers want good salaries and benefits from their organizations to help them prepare and many (73 percent) plan to return for professional education and additional degrees to do so.
• "It's always greener on the other side of the fence" isn't just a catch phrase with this group. Gen Yers crave challenges to keep them engaged and good benefits to keep them secure. "This means companies must constantly be in recruiting mode with current employees," says Yahoo! HotJobs managing editor Tom Musbach. If your organization can't offer these mental and physical perks, they will most certainly not hesitate to find one that can offer them other items on their top concerns list—better salaries, advancement and interesting work.
Company leaders need to understand that there are "…certain distinctive qualities, such as a desire for very frequent feedback from their managers, are unique to this generation. Generation Y expects a lot of its leaders. Making sure supervisors of Gen Y professionals have supportive management styles can go a long way in attracting and retaining these workers, who will play a greater role in organizations as more baby boomers retire," Stern says.
Sales & Marketing Management Magazine
This article is brought to you by Sales & Marketing Management, the leading authority for executives in the sales and marketing field.
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