Millennials now make up about 35% of the workforce according to an analysis from U.S. Census Bureau data. This group comprises people born from 1981 to 1996 – after Generation X and before a group called Generation Z. While this group is motivated to work, their expectations are different from past generations. This means some employers are struggling to adapt. Additionally, a much different technological and cultural landscape has shaped some unique characteristics.
Check out these interesting statistics about what makes a Millennial tick in the workplace.
Millennials in the Workplace Statistics That Are Changing Companies
No Patience for Annoying Co-workers
According to a survey by HRDIVE, employees ages 18-25 are most likely to quit a job because of a coworker. Whether the person has a negative personality, is immature, or just overall annoying – 38% of younger employees find it impossible to work with a disliked coworker. The study also shows women are the least tolerant and are somewhat more likely to quit their job because they don’t like someone they work with.
Looking for Higher Pay to Make Ends Meet
Millennials have soaring student debt, consequences from the Great Depression, and rising living costs to cope with. As a result, most Millennials are looking for salary increases. Regardless of where they work or how flexible the job, about a third will be seeking higher salaries with another employer within five years. A Udemy survey explains about 59% of Millennials have stayed with their employer for three years or more and employees age 30-37 have been with their current employer for more than 7 years.
A Preference for Flexible Work Schedules and Locations
As cited by a 2019 Staples Workplace Survey, 90% of employees say a flexible work schedule would help boost morale. While some employees would like their workplace to be fun, many people don’t like the idea of a distracting open office design. However, according to the survey, only 34% of employers allow people to work remotely. Above all, many Millennials believe in a better work-life balance and don’t embrace a 9-5 type of job. Millennial workers believe if they work smarter and faster – they should be compensated with time off and flexibility.
Sustainability is the Future
As more and more people are taking an interest in the environment, it’s not surprising that 70% of the millennial workforce takes a company’s “green” footprint into consideration, according to an HRDIVE and Swytch report. Corporate social responsibility has become important to Millennial workers. Consequently, a company that is environmentally conscious is more attractive to these employees. Millennials are also willing to accept a pay cut to work for an environmentally friendly company. In fact, about 40% of the workers surveyed said they chose one job over another because of the sustainability of the company.
Engagement Affects Satisfaction
According to a Gallop poll, only 29% of Millennials are emotionally and behaviorally connected to their job. This lack of engagement is just one of the reasons Millennials tend to job hop and they are constantly looking for a better position. About 16% of millennial employees feel actively disengaged. This means they give less effort or don’t care if they cause damage to their current company. This leaves a whopping 55% of Millennials who are disengaged in the workplace and are there mainly to collect a paycheck. These employees are indifferent and do not put passion or energy into their work.
How well do you align with these Millennials in the workplace statistics? As our culture continues to evolve to meet the needs of changing generations, so do companies.
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