How millennials are taking over today’s workforce
Over the past couple years, GYV has covered numerous studies on the impact of millennials on the workforce and the disruptive values they have instilled into the workplace through their sense of balance and purposeful leadership.
Today, we take a closer look at more insightful findings on the topic from a recent study by strategic intelligence firm Department26 titled ‘Millennials + Work’ that explores the unique challenges and key values of the Gen Y workforce, which will make up 50 percent of the labor market just two years from now.
Expectation vs. reality
Based on a series of in-depth interviews involving emotional analytics AI tool Sub|Verbal, which reveals emotion from vocal responses with an accuracy of over 80 percent, the study found an apparent clash between expectations and reality when it comes to millennial job satisfaction.
Millennials have been conditioned to require external factors to spur their motivation and are therefore likely to opt for a change of path whenever they are unable to sense a tangible impact. “It’s no wonder, then, that millennials are more likely to go on the job hunt when their vision of their role doesn’t match reality,” the report reads.
This pattern requires managers to be persistent in providing regular and direct feedback to their millennial employees if they want them to stick around.
When asked about their top priority in picking a new job, the majority of participants (44 percent) cited being in a role they’re passionate about as the defining factor in their decision. Salary, a far more obvious choice, only comes second with 42 percent.
In addition to passion, the notions of ownership and trust that, a sheer reminiscent of the entrepreneurial mindset, are essential to the Gen Y workforce. “For millennials to feel fully empowered in their roles, they must be treated like the entrepreneurs they imagine themselves to be,” the study states.
But in order to prove themselves and succeed, millennials are constantly in need of constructive feedback and structured mentorship. “Millennials want to be treated like adults—they don’t want something for nothing, but they believe that proven responsibility should afford some autonomy,” the report insightfully concludes.
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