Our takeaways from the Deloitte Millennial Survey
One of the most interesting materials we’ve come across regarding the relationship between companies and their employees is the Deloitte Millennial Survey. We strongly encourage you to read the whole report, but here are our most important takeaways:
1. Millennials care a lot about social responsibility and tend to be more loyal to employers that give them the possibility to get directly involved through the workplace in an activity with a positive social impact.
2. Millennials prefer to work in places where they can have autonomy and the ability to influence issues that matter to them, the top areas being client satisfaction, work culture and general processes. The data shows that the older they get, Millennials tend to stay in organizations they are most aligned with — companies that offer them the possibility to influence the issues they feel most accountable for.
3. Although the percentage of Millennials planning to leave their current employer within 2 years has decreased in 2017, the rate is still at 38%, which is high and concerning for employers. This low loyalty can partly be attributed to the generally negative perception of Millennials towards the willingness of their employers to get involved in broader social issues rather than operating merely for profit. Nevertheless, the generation itself is one that does more job hopping than others, so maybe this is a new standard that employers just need to get used to.
4. One of the most valued benefits for Millennials is flexible work, which the study finds to be related to both improved employee performance and loyalty. As a response to this requirement, more and more companies are opening to the possibility of offering flexible working hours and letting their employees work from home.
5. Millennials tend to have a positive outlook on automation even if they acknowledge the fact that it will probably make obsolete many existing jobs. However, they see it as a possibility of engaging in more creative activities if people are willing to learn new skills and adapt.
Find the full report here — https://www2.deloitte.com/global/en/pages/about-deloitte/articles/millennialsurvey.html
If you have any thoughts on the matter, we’d love to hear from you
What’s your experience in working with Millennials? And how does this affect hiring practices?