There are several myths about the millennial generation that have filtered through in the labour and consumer markets such as; “Millennials are lazy and entitled” or “they’re not committed to their jobs”. These myths have had an overwhelmingly negative impact on the future of the workforce.
Here’s a look at Part 2 of more myths we would like to debunk:
Myth 4: Millennials are constantly seeking praise
The Gallup Workplace SSurvey paints an interesting picture of how millennials engage with their managers. The research agency found that 56% of millennials meet with their managers less than once a month compared to their predecessors. However, only 19% receive regular feedback and frequent check-ins from their managers. Due to this decline, there are 30% of millennials not engaged with their work and 60% of millennials are open to new job opportunities.
These latest statistics show the direct impact of the myth on this generation within the workplace. Millennials want bosses that have an ethical and transparent approach so the whole team can share the rewards of success as a team, not as an individual.
Myth 5: Millennials are entitled
Unlike their predecessors, the millennials do not fear speaking up and to raise issues. Millennials are always looking for new career development, opportunities and promotions. This generation sees every position as a stepping-stone to another challenge to expand their expertise, this according to The Boss Group.
Millennials also value career options that go beyond a traditional 9-to-5 job such as freelancing, entrepreneurship, start-ups and other industries: the side hustle. This platform enables them to negotiate better work structures such as flexible hours, training and development, healthcare, housing, retirement plans and a greater vacation allowance.
Myth 6: Millennials love to job hop
In a NextGen PwC report, the findings refute this claim by showing that 38% of millennial leaders intend on staying in their companies in the medium term (a period no longer than 10 years) compared to 30% of their predecessors. Despite minor shifts in the shorter tenure stays (5 years and less) amongst millennial and their predecessors, these findings show that millennials are just as loyal as their counterparts. There has also been an increase in loyalty to the employer from millennials, with the rate of changing jobs declining at the consistent rate amongst millennials according to Forbes.
Employers, remember: a happy workforce is a more productive workforce. We hope our feature on millennials encourages you to make space in your boardrooms and office spaces for this bright generation.Image Source: Pond 5