Millennials now make up the largest segment of the workforce. Many businesses are killing themselves to create cool office spaces and even cooler perks to attract and retain this important worker. Some of the perks you might find around the Millennial office include:
- Massage chairs
- Napping rooms
- Free snacks
- Exercise rooms
- Ping-Pong tables
- Tom Cruise
- Deepak Chopra
- Taylor Swift
Really? Do you think for a minute that a basketball hoop, pinball machine or a speech by Tom Cruise will successfully onboard and retain future Millennial talent?
According to Meshworking.com contributor Jessica Pawlarczyk, “Millennial job seekers are incredibly misunderstood. Thanks to popular culture, the HR world is convinced that Ping-Pong tables are Millennial magnets… But do you know what we love even more? Benefits. Intangible benefits, including profit sharing, a 401K account and a flexible work schedule are of the utmost importance to today’s young workforce.”
Other studies have found that Millennials are more motivated by their values. The Deloitte Millennial Survey 2016 highlighted the problem: “Businesses must adjust how they nurture loyalty among Millennials or risk losing a large percentage of their workforces.” The study went on to indicate that, “Millennials, in general, express little loyalty to their current employers and many are planning near-term exits… This remarkable absence of allegiance represents a serious challenge to any business employing a large number of Millennials…”
What Do Millennials Want In The Workplace?
Millennials want mentors to be there for them. The open office space is really a way of doing business. They want to share. They really don’t want to have to lock their desks, the way we Baby Boomers did at night, for fear some co-worker would rummage through our desk to see what was happening with the
Millennials want connectivity; to their co-workers and to the community. Lindsey Pollack, a Millennial workplace expert noted, ”It turns out, the one perk millennials value the most isn’t about getting – it’s about giving. Companies are finding that volunteering programs are helping attract and retain employees, especially millennials.”
Many companies are supplying time off for employees to volunteer. Timberland, for instance, has celebrated more than 20 years of their Path of Service program which offers employees service sabbaticals equating to 40 hours of paid volunteer work per year.
Millennials also want their work lives to be made easier, so they can spend more quality time when they are not at work. S.C. Johnson & Son has an on-site concierge service, which offers employees an opportunity to ease the work/life balance by handling life’s chores. Concierge services send packages, pickup groceries, shop for the best deals on car insurance, and even take cars in for servicing.
Google, one of the pioneers in developing the new work environment, has taken it a step further. Yes, they offer office perks, like free food, but doesn’t that also cut down on employees’ time away from work? They provide more meaningful time-saving perks like; free oil changes and car washes, not to mention real tangible benefits such as back-up child care and annual $12,000 tuition reimbursement.
Millennials want to constantly learn. According to a MindTickle.com survey, a training platform, 89 percent of Millennials agree that it’s “Important to be constantly learning on the job.” The Harvard Business Review, in an article entitled, “What Millennials Want from a New Job,” noted that that cohort of employees placed the, “Opportunity to learn and grow” as their highest priority. (As a side note, Baby Boomers actually recognized “Organization is a fun place to work,” higher than Millennials placed that category.)
Millennials Are Consumers Of Jobs
Millennials shop for jobs the way we Baby Boomers shop for a house. They are trying to find the best job that suits their needs and goals, at that time in life. Needs change; you can change homes and you can change jobs.
By the way, we taught our offspring to be consumers and to question everything. W. Stanton Smith, retired Principal, National Director, Next Generation Initiatives at
Purpose or Profit?
Of course, Millennials want to earn a good salary. They are carrying huge student debt burdens and have been underemployed since the recession. But, they also want a better work/life balance fit and are willing to forego some money to get that.
Millennials are interested in more than a paycheck. Barry Salzberg, retired Global Chief Executive Officer of Deloitte and current professor of professional practice at Columbia Business School, has witnessed this attitude shift at Deloitte and now with the Millennials he teaches and interacts with at Columbia. “When I started in my career at Deloitte, way back in the 70’s, one central theme we saw new hires focused on was ‘take home pay;’ that was part of everyone’s lexicon. The Deloitte Survey highlights this shift away from that focus with our Millennials. I have also seen it personally, as well. The bright, young students I teach are yearning to join companies who share their core values and who have a purpose beyond making a profit, and demonstrate it in what they do every day. They want a company that not only does financially well, but has a culture of making a broad impact in the world.”
Millennials want to find what inspires them; they really want to fall in love with their work and not just have it as life’s placeholder. They are willing to try lots of jobs until the right one develops; as an entrepreneur or a corporate employee. They really understand that “we are what we do.”
So, if you are doing something boring and stupid, chances are you may end up boring and stupid. Conversely, if you are doing work that is inspiring and changing the world, you will end up as Mahatma Gandhi taught us; “Be the change you want to see in the world.”
