Page 28 - STRATEGY Magazine

GLOBAL ECONOMY
The New Global Workforce:
What Do Millennials Want?
The profile of the millennial as somehow “different” is a fallacy. A preponderance of research now shows that millennials embody the same values, goals, habits, and strategies in the work- place as members of other generations.
Researching millennials and their per- formance, preferences, and culture in the workplace has become something of an industry. A significant portion
of the human resources consulting market now focuses on advising employers about their workers who came of age in the 21st century. Older adults trying to understand this wave of younger adults may turn to seminars, books, and articles for insight on how to manage the millennial segment of the workforce. But is it fair to assume that millennials are so different from the generations that precede them? Most serious studies answer this question with a re- sounding no.
JUST THE FACTS, MA’AM
Lazy? Entitled? Selfish? Superficial? Surveys of baby boomers, Gener-
ation Xers, and mil-
lennials on attitudes
toward work reveal that the much-ma- ligned millennials share none of these traits. Only one sig- nificant and predict- able distinction was found to set millen- nials apart in the workplace: not sur- prisingly, these young people are more digi- tally proficient than their elders.
In general, millenni-
als seek the same set
of criteria in a good
job as do their elders.
They do not hone in on jobs with hefty vacation packages or especially flexible environments. Rather, they seek to make a positive impact at work while especially valuing jobs that offer financial security. In China, millennials, who predominantly fill white-collar jobs, have been
found to have modest aspirations that de- emphasize the import of salary or job status.
Millennials worldwide further demonstrate re- alistic expectations for relationships with their bosses and want to work with supervisors who evince a strong moral compass and an assured approach. In fact, having a boss who asks for the staff’s input is not particularly important to a millennial. Rather, a resounding 98 percent of millennials may seek a workplace mentor—a relationship that they consider “fundamental” for their development, according to a survey in Greece.
HOW MILLENNIALS WORK
Stereotypes of millennials who use Facebook or other social media platforms during work hours abound, but these perceptions are patently un-
fair. In fact, millennials as a rule do not use their digital competence to play at work. Quite the contrary—they are significantly less likely than older people to use their per- sonal social media accounts for business purposes.
Neither do millennials need a “kumbaya” moment in order to make an executive decision. While they value input from their colleagues, they are nei- ther more nor less likely than members of other generations to seek advice when navigat- ing through the work maze of woulds, shoulds, and coulds.
Millennials are also just as likely as baby boomers and Generation Xers to stay at their
jobs. Employers need not worry about millenni- als jumping ship, because, in fact, most of them do not want to. Indeed, in today’s economy, mil- lennials in 12 countries report that they con- sider themselves in a fortunate position if they even have work.
By 2020, the gener- ation that reached adulthood in the ear- ly 21st century will make up half of the global workforce, taking the lead and shaping opinions.
26 STRATEGY