In a world of continuous updates and information being processed faster than other generations (thanks to Snapchat and Instagram), Millennials are considered the first “global” generation with the development and improvement of the internet.
Also known as “Generation Y”, Millennials are currently the center of all present analyzes, surveys, debates and sociological studies. The Millennial generation is in the mouth of society; it has incorporated itself into the market as both consumers and workers.
But their surroundings have generated all sorts of preconceived ideas about Millennials that have sparked conversations; they are lazy, narcissistic and needy. Except they are talented, digital savvy and ambitious to achieve more than just pure economic results in the workforce.
As in all prefabricated images, there are some truths and myths about Millennials. We have explored the profile of this imminent generation to differentiate how much of reality and how much of exaggeration there is in this idea people have of them. Keep on reading!
3 Truths About Millennials in the Company
1. “Technology is an extension of this generation”
Millennials are digital natives, so technology is part of their day to day life (some even since their earliest days of childhood.) If there’s a generation capable of adapting rapidly to technological changes and methods of work, it’s Millennials.
Their use of technology helps the way they work, consume, interact and even obtain and generate information. According to studies, 82% of millennials inform themselves exclusively through digital platforms and social networks, bypassing traditional media.
2. “Millennials Need Flexible Work Environments”
For baby-boomers, the distinction between work and working life was something that was non-negotiable. In addition, stability was an indicator of success.
For the workers of this generation, the pivot that defines success at work is the pleasure of doing it. Leisure and work are becoming more united and that has its repercussions at the workplace. Three in four Millennials are willing to work only in flexible companies, without rigid schedules and they are able to adapt to the company’s needs, always with the commitment of returning the trust with favorable results.
3. “Millennials want to be the change”
According to the Intelligence Group’s study, 64% of Millennials aspire to make the world a better place through their work. In fact, this is one of the generations with high involvement in non-political activism, which contrasts with the egocentrism attributed to them. The 2015 Millennial Impact Report indicated that in that year, over 50% of Millennial employees made at least one donation to a social cause, while 79% participated in some volunteerism and 69% donated to causes promoted by their company.
3 Myths of Millennials
1. “Millennials are Unreliable”
While it’s true that the statistics indicate that they have greater labor mobility than previous generations, it is also necessary to think about their motivations to stay in their company. Two statistics help us to understand this: according to a Gallup study, 87% of millennials consider training and learning a priority when choosing and staying in a job, while 70% would be willing to change jobs if they don’t find opportunities for growth.
The so-called Generation Y looks for opportunities to evolve and grow at the work and personal level. HR departments are making greater efforts to establish training proposals and career plans that offer a perspective on strategies for retaining top-notch talent.
2. “They Need A Relaxed Work Environment”
We picture startups as dream offices, full of millennials playing ping-pong, foosball or going down the company’s building from a fireman’s slide pole. But this is not what startups are all about; these are just elements that form part of the start-ups culture. They foster cooperation, improve the overall experience at work and offer a space for mental rest.
Although the flashy table tennis table doesn’t lengthen work time, it ends up being a part of the worker’s routine. Leisure is no longer an attraction at start-ups, but also a main ingredient in the work culture. Like the rest of the generations, Millennials also value health insurance, continuing their education, paid vacations and an attractive business plan for their job prospects.
3. “Salary is Not a Priority for Millennials”
They want to be part of the change, they value personal growth and although it may seem that remuneration is not the main concern for millennials, that’s only a myth far from reality. Salaries are the main concern of this generation when choosing a job above the purpose of their employment and a good work environment. In fact, according to a Staples Business Advantage study, 52% of Millennials who changed jobs during 2014 did it looking for a paid upgrade.
Let there be no doubt: a competitive salary that reflects the value that the employee has for the company continues being a fundamental strategy for the attraction and retention of the Millennial talent.
Is your company prepared for the Millennial Revolution? Share your experiences with us in the comments below!