Page 29 - STRATEGY Magazine

By the time millennials become a part of the workforce, they have already established
a strong social presence and a social media strategy that reflect their personal brand. They are fully aware of the information they want to share, what platforms to share it on, and how it will suit their various audiences.
JUST TYPICAL
For employers and supervisors who wish to effectively manage their millennial employees, one piece of advice seems to be the most important: do not assume that these young people sub- scribe to a value paradigm that is significantly different from anyone else’s. Millennials are truly no different than members of other generations. To this point, researchers at The George Washington University and the U.S. Department of Defense re- viewed more than 20 studies exploring generational differences and concluded that “meaningful differences among generations probably do not exist in the workplace.”
Millennials are broadly perceived as narcissists in the work- place, but there is a simple explanation. Millennials are young, and young people are naturally somewhat selfish. As this gen- eration grows older, it will outgrow its self-absorption just as the baby boomers and Generation Xers did before them. Over- whelmingly, empirical research on millennials paints a picture of young people who should be perfectly reasonable to deal with in the office. Like other generations, millennials seek a balance between work and life. They have dreams to work at something they are passionate about, to become experts in their fields, or to start their own businesses.
Millennials are proud to make a positive impact on their or- ganizations, and they value jobs that help solve social or envi- ronmental challenges. They enjoy working with diverse groups of people, and they wish to work for the best organizations. Fi-
nancial security is important to them, and many—rather than hurriedly wanting to move on to the next opportunity—hope to rise through the ranks and become senior leaders in their orga- nizations.
GETTING SATISFACTION
One key way that millennials differ from workers of other gener- ations actually bucks hard against the common wisdom. In 2015, CNBC commissioned a study of millennials that explored those traits this generation considers most important in a potential employer. Here, the researchers focused on ethics, environmen- tal practices, work–life balance, profitability, diversity, and rep- utation.
As with other research, this study found that millennials scored remarkably similarly to people of other generations. Yet in one way, this younger generation was different. Despite all the negative stereotypes, millennials reported that they were more satisfied with the training and skills they received at work than were their colleagues of older generations. Fully 76 percent of millennials reported that they were satisfied—a whopping 10 percentage points higher than the rest of the population.
So much for being capricious and hard to please! No, employers truly need not fear the 16- to 35-year-olds who may be flooding their factories, work cubes, and corner offices. Millennials just want to give and receive in the workplace like everyday people.
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Which of the following things do you believe make an organization an attractive employer?
ATTRACTING MILLENNIALS
The unique characteristics of 60% millennials demand a differ-
52% ent strategic approach to the recruitment and retention of
employees. Millennials are look- ing for more in life than “just a job” or a steady climb up the corporate ranks. They want to do something that feels worth- while, they take into account the values of a company when considering a job, and they are motivated by much more than money.
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Opportunities for career progression Competitive wages/other inancial incentives Excellent training/development programs Good benefits packages Flexible working arrangements International opportunities Good reputation for ethical practices Corporate values that match your own A reputation as an employer of the best and brightest people The employer brand Diversitiy/equal opportunities record The sector in which the organization operates Other
Base: All
Source: PwC
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