What do millennials look for when searching for a job?
Posted on Tuesday, October 10, 2017 by The MSS team — No comments
Millennials are shaking up the job world. With different workplace priorities than previous generations leading to a rise in job-hopping, what are millennials now looking for in a role, and how can businesses accommodate this?
A recent report from Deloitte found that the top five priorities for millennial job seekers were money, security, holidays / time off, company culture and flexible working. The ability to learn new skills was another, with a large proportion of millennials increasingly valuing further development opportunities, according to Gallup.
Statistics show that 92% of millennials in the business world value money as one of the most important elements when choosing a position. As well as the agreed upon salary, they’re also looking for opportunities to further increase their earning capacity through progression.
A work-life balance, being able to find parity with both personal and work obligations, is an important factor for anyone, but millennials are being more vocal about this. With businesses now offering packages such as flexi-time, allowing staff to come in an hour later than usual and make up for the time throughout the week, more and more people are requesting this from companies. If you’re spending 40 hours a week working and commuting while also trying to keep your personal life in check, having some flexibility with your work hours can be incredibly helpful.
87% of millennial workers want to know that a role will keep their skills relevant. As well as this, they wish to enhance their career prospects and maintain their standard of living. The business world is constantly evolving, with professionals having to continuously update their skillset to stay current. In order for businesses to keep up with their competition, they need to adopt current business practices. Keeping staff skillsets up to date is one of the best ways to do this.
Developing a strong company culture will go a long way towards attracting skilled staff. According to a survey by Gallup, the average person works 47 hours in a week. If an employee is to spend a significant chunk of their waking week in an office, they’re going to want to be in an environment that they enjoy, with people that they enjoy being with.
Finally, millennials are voicing concerns about the ethics of the companies that they work for. Many would vastly prefer to work for a company with views that line up to their own. Millennials are looking for employers whose values align with theirs and build trust by being transparent and socially responsible. An example of this being Ben & Jerry’s who have 7.5% of their yearly pre-tax profits allocated to philanthropy.
In short, millennial talent most of all want new experiences, equal time investment between work and life obligations, and to work for a company with values that they believe in and can contribute to. Further, they want more to keep investing in themselves, to keep learning, and to keep improving. For any employer to secure the best talent, companies must first identify and meet the key requirements of their target employees.