A staggering 73 million Millennials were born between 1980 and 1996, and the future of your organization relies on them. Companies are adapting their business methods to make sure they meet Millennials' needs.
As the largest most educated generation in the business force the millennials are also the most likely to switch jobs until they find a job that meets their needs and aspirations. A recent study by Gallup shows that 36% of millennials in the work force consider looking for a job with a new company in the next 12 months. The study also underlines that 55% of millennials in the work force do not feel engaged in their current job. Only 29% of this young professionals feel engaged whereas %16 states that they are extremely disengaged in their current jobs.
There are certain aspects that keep the young generation interested and focused in their position. Unlike the generation that came before them they prefer to have a purpose in their careers. They prefer aspirations over pay checks. They want to have coaches above them to guide them to development, rather than having bosses. They tend to be more content with a job that is also a lifestyle than having just a job.
One of the other things that keep millennials excited is development. They prefer ongoing conversations with their managers on the ways to develop themselves over annual reviews and traditional career satisfaction.
The responsibility falls on the companies to come up with business solutions and meet these needs to attract young generations and keeping them loyal to their brand.
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