The volume of research on Millennials grows by the day, and we’re gradually learning that this much-maligned generation of 80 million is finding its footing on some important fronts—especially the workplace, where they overwhelmingly see their job as a means for doing good in the world.
Nine in 10 young adults believe they are actively contributing to an organization that is having a positive impact, according to the 2014 Millennial Impact Report from Achieve, a research and branding firm, and the Case Foundation, which promotes positive change. An employer’s position on giving back plays a big role at every stage of a Millennial worker’s career. The report found that:
- What a company makes and sells is the top consideration for Millennials when applying for a job.
- A company's support for a cause is one of the most important factors in deciding whether to apply there.
- Nearly half of Millennials had volunteered for a cause or nonprofit through their workplace in the past month.
Surpassing even baby boomers in number, Millennials are making their mark in a lot ways. They have different dreams. They are changing banking, and in some ways they are ahead of the game in terms of saving for retirement. But the workplace is where they are having the biggest impact.
A Hartford trend report called The End of Millennial Shaming notes that these young adults “are not kids anymore” and that this is the year “we end the Millennial bashing once and for all.” This generation is now invading the workforce and “taking on more and more leadership roles in business, government, communities and culture.” The Hartford found that 41% of Millennials already have four or more people reporting to them and that 78% consider themselves leaders in some part of their life.
The message to employers is clear: It is time to adapt to the next generation’s style of work. That means more collaboration, teamwork, flexibility and use of go-anywhere technology. It also means that companies that really are trying to solve the world’s problems will attract the best talent. Fulfilling passions and fully utilizing their abilities are among the top reasons Millennials cite for staying with a company, the research shows. From the Achieve/Case report:
Today’s forward-thinking companies are looking at the future of corporate social responsibility and how employee cause-work, company-branded volunteering and pro bono programs based on skills can play a role. For a company desiring to build a culture that resonates with this growing demographic of current and future employees, leveraging their passions is crucial.
The good news for employers is that the best talent is ripe for picking. Millennials have little sense of employer loyalty. More than half expect to have between two and five employers in their lifetime and a quarter expect to have six or more, PwC found.
And right now Millennials are feeling more burned out from work than any other generation. Among Millennials looking to switch jobs, 86% say they feel exhausted by their jobs. That compares to 76% of more experienced workers looking for a change, according to a Monster.com workforce talent survey.
The workforce will bend to this generation's will, just as it largely equalized opportunity for women, made the office a home away from home, and adopted casual Fridays for 78 million baby boomers. What’s exciting about this next generation is that it really does want to make the world a more sustainable and peaceful place, and is calling on the resources of capitalism to deliver.