Millennials: What Do They Want?

Every generation tells a different story. Its members have faced various states of the economy, fought different battles and overcome diverse societal obstacles. These events and circumstances shape their ideas and beliefs, and essentially give characteristics to a generation.  As the Millennial generation surpasses Generation X as the largest living generation and continues to expand their share of the workforce, employers are wondering what these “kids” are looking to gain from their jobs. Here at the Vistage Florida home office, we have a couple of Millennials, both working and interning. These are a few things we have found that Millennials are looking for in the workplace:

  1. Purpose: These guys and gals want to know their job has meaning. You need to be able to explain to them the impact your business has on the world and how they are contributing towards that by performing their job. They want to know they are a part of something bigger than themselves.
  2. Mentoring: Millennials are looking for more coaching than bossing. They value support from leaders. Hands on guidance and mentorship are important to them and annual reviews do not necessarily cut it anymore. According to TriNet, an HR solutions company, 69 percent of Millennials see their company’s review process as flawed. Try to check in often and develop relationships that will help them grow.
  3. Flexibility and balance: The 40 hour work week is being reinvented. The now 3 million workers that work from home is expected to grow at a rapid rate. Millennials value personal time, and strive to balance work life with their home life. Do your best to make this possible because happy workers make productive workers.
  4. Teamwork: Most Millennials would rather work together than compete against each other. They want to reach goals by working as a team to do something bigger for the greater good.
  5. Inclusion: This might be a better word to describe Millennials than using the stereotype “entitled.” They want to be a part of the big picture and make a difference. By allowing them to get involved and “do big boy things” they will produce “big boy results.”

Not every member of a generation falls within these stereotypes, but generations do collectively differ from one another. By knowing some of the common characteristics of the generation you’re taking on as an employer, you’ll be able to be a better leader. Whether you’re ready or not, the Millennial generation is coming, make sure your business is ready.