As the largest generation in the workforce, millennials are a powerful force to be reckoned with. And they’re only getting bigger and more influential.
According to a recent study, nearly 60% of millennials say that finding a job with meaning is a top priority. They also place a high value on flexible work arrangements, opportunities for professional development, and company culture.
With so much focus on purpose, it’s no wonder that many millennials are leaving traditional jobs in search of something more fulfilling. In fact, nearly half of all millennial workers say they would leave their current job if it didn’t align with their personal values.
So what can organizations do to keep millennials engaged and prevent them from jumping ship?
If you’re like most business leaders, probably not. And that’s a problem because, by 2024, millennials will make up an estimated 75% of the workforce.
What Do Millennials Want In the Workplace?
Here are the top 10 things:
Flexibility
Millennials value work/life balance and are looking for employers who offer flexible work arrangements. This could include anything from remote working options to more flexible hours.
For example, tech giant Google recently announced that it will be offering more flexible work options for its employees. The company is giving all of its employees the option to work from home up to three days per week.
Purpose
Millennials want to work for companies with a strong sense of purpose. They want to know that their work is making a difference and that their employer is committed to making the world a better place.
For example, Patagonia is a company with a strong sense of purpose. The outdoor clothing company’s mission is to “build the best product, cause no unnecessary harm, and use business to inspire and implement solutions to the environmental crisis.”
Development Opportunities
Millennials are always looking to improve their skills and grow their careers. They want employers who offer development opportunities, such as training programs, mentorship opportunities, and career advancement paths.
For example, LinkedIn offers its employees a variety of development opportunities. The professional networking site has an extensive training program that covers everything from job-specific skills to leadership development.
A Positive Work Environment
Millennials want to work in a positive environment where they feel like they belong. They want to feel like their employer values them and their contributions.
For example, SAS Institute, a software company, is consistently ranked as one of the best places to work. The company has a strong focus on creating a positive work environment for its employees.
A Competitive Salary
Millennials want to be paid fairly for their work. They’re not afraid to negotiate for higher salaries and they expect their employers to offer competitive pay rates.
Student Loan Assistance
Many millennials are burdened with student loan debt. They’re looking for employers who offer student loan assistance programs or tuition reimbursement programs.
For example, PricewaterhouseCoopers offers a student loan assistance program that helps employees repay their student loans. The accounting firm also offers a tuition reimbursement program that covers up to $5,250 of an employee’s annual tuition costs.
PTO and Paid Holidays
Millennials want employers who offer generous vacation time and paid holidays. They value work/life balance and they want to have time off to enjoy their personal lives.
For example, LinkedIn provides its employees with unlimited vacation days. The company also offers 10 paid holidays per year.
Health Insurance and Other Benefits
Millennials want employers who offer comprehensive health insurance plans and other benefits, such as dental insurance, vision insurance, and 401(k) matching programs.
For example, Amazon offers its employees a variety of benefits, including health insurance, dental insurance, vision insurance, and a 401(k) matching program.
Employee Discounts
Millennials love getting discounts on products and services. They’re looking for employers who offer employee discount programs.
For example, Microsoft offers its employees a variety of discounts, including discounts on software, computers, and other technology products.
A Casual Dress Code
Millennials are more casual than previous generations. They want employers who have relaxed dress codes or even no dress codes at all.
For example, Google has a very relaxed dress code. The company’s employees can wear whatever they feel comfortable in, as long as it’s appropriate for the work they’re doing.
Wrapping Up
These are the top 10 things millennials want in the workplace in 2024. Employers who can offer these things will have a competitive advantage when it comes to attracting and retaining millennial talent.