Millennials (those born between 1981 and 1999) are very ambitious with high levels of workplace satisfaction, highly mobile with the potential to leave current jobs in 3-5 years and a willingness to ‘boomerang’ back to their current employer some years later.
These are just some of findings in a new report ‘The Workplace in 2025’, where over 3,400 Irish professionals of all ages were surveyed in a study in February and March this year.
Millennials are possibly the most personally ambitious, demanding and mobile generation ever to enter the Irish workforce. By 2025, they will have achieved leadership positions in many organisations.
Rather than stereotyping them, as often seems to be the case, we need to transform our workplaces to reflect their values, needs and attitudes, the report says.
The vast majority of Millennials see opportunities for career progression, more workplace flexibility and salaries as key factors to greater job satisfaction. They are quickly becoming the most influential segment of our population and workforce.
As a generation born and raised in a world of ubiquitous technology and social media, they have very different expectations about jobs and careers.
The survey, undertaken by professional services recruiter Morgan McKinley and its talent solutions division M3S, reveals that these younger workers aren’t motivated by the same factors as previous generations, such as a job for life, but instead they value opportunity, flexibility and a good work/life balance.
As these millennials begin to dominate the workforce they are bringing with them new perceptions of what office life should be like.
- Two-thirds of millennials express high levels of job satisfaction. However, one third are not happy (a higher proportion than for other generations). The 5 principal factors listed by millennials around what makes them happy with their jobs: Company’s culture & transparency; Relationships with colleagues; Support or recognition from manager; Progression and development opportunities; Flexible working opportunities and work/life balance.
- Seven out of every 10 millennials (72%) are going to leave their employer in the first 5 years.
- A quarter of millennials would return to their previous employer after pastures new.
- A quarter of millennials say they’ll reach the most senior levels in their current jobs.