Millennials are a curious bunch. They’re different from past generations in important ways, especially when it comes to the job market. For starters, they don’t seem to be as interested in making money. Sounds strange, but most would rather have opportunities for development rather than a few extra pounds in their account at the end of the month. They’re also more interested in things like purpose and on-the-job satisfaction than previous generations, and more likely to look elsewhere if they don’t find them.
Baby boomers didn’t view their work in the same way. If their jobs didn’t provide satisfaction, then they would console themselves with the fact that they provided an income. But because they have such different expectations of the world, baby boomers – who make many of the hiring decisions in today’s economy – can get Millennials totally wrong. Here’s what millennials want from a job.
They Want Social Impact
The majority of Millennials are progressive. They’ve been raised in an education system that promotes social values above all else, and it’s rubbed off on them. Even the most business-minded Millennials want to know that the companies they work for are doing the rest of society good. According to Capital Group, more than 82 per cent of Millennials say that they think that it is crucial for companies to look after the wellness of their customers and employees. They also believe that companies should invest in “ethical” stocks; not big tobacco or the oil and gas industry.
They Want Family Life To Take Precedence
For Millennials, work and family life are not equal things that they try to balance with each other: family life is more important. That’s why so many recruitment websites now advertise “flexible working” arrangement, whereby Millennials can adjust their timetables around their spouse’s and children’s lives. Millennials view raising a family as a success just as much as making a lot of money.
They Want To Invest In Their Retirement
Millennials don’t want to work. According to data from Forbes, only one in ten millennials would stay in their current working circumstances if they had enough money to give up work permanently.
Why do millennials care so much about retirement? Part of the answer originates from the 2008 financial crisis and recession. Millennials, many of whom were in entry-level jobs at the time, suffered badly, and are only now working their way back up the income ladder. The catastrophe forced many to think carefully about their futures and consider ways of smoothing their income further down the line, including retirement.
They Want Employers To Share Their Values
Previous generations saw a job as a means to an end. But idealism and progressive ideology have made millennials morally fussy. They want their employers to share the same values as them.
As discussed, millennials’ circumstances have changed a great deal over the last ten years. No longer are they broke college grads living at their parents’ houses but rather heads of young families with different needs. They want their employers to focus more on facilitating family life and helping them clear their debts.