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Millennials seek companies whose values are an extension of their own

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Millennials prefer quality of life over money


June 26, 2022 (IANSlife) This generation prioritises purpose over money. They want to be a part of something bigger than just a job; they want to be a part of something meaningful. They are willing to leave if the organisation does not align with their goals.

The days of employees adhering to what is comfortable, normal, and safe are long gone. The Millennial seeks and continues to work for a company whose beliefs and ethos are an extension of or aligned with their own. This generation, which makes up the majority of an organization's workforce, is goal-oriented and prefers to be contributors rather than employees who meet their KRAs. This generation questions the very foundation of traditional employee behaviour, which serves the individual/company rather than the cause/contribution. Given that they constitute a sizable proportion of the workforce, organisations and managers must align themselves with the hopes and aspirations of the millennial workforce, which is eager to make a difference through their work.

How do these attributes align with the company's needs?

The millennial workforce has the potential to be a complete package. They are technologically savvy, ambitious, cause-oriented, socially responsible, and collaborative, which are all qualities that an employer looks for in an employee. With technology at the forefront, the world is more complex than ever. If an organisation does not make good use of technology, it is likely to fall behind. Employees who can take on these complex challenges and turn them into opportunities for businesses are needed in this work environment. The millennial generation's technological prowess is a huge asset to the organisation today.

According to Michael Page, nearly 86 percent of Indian employees planned to resign by the end of 2021. Employees do not want to work for a company that does not share their values and aspirations, and they are more concerned with their overall well-being and satisfaction. Millennials are also expected to make up 75 percent of the global workforce by 2025. As a result, the sooner organisations understand how millennials think, the better their chances of attracting the cream of the crop.

Let's take a closer look at the qualities that motivate millennials to work for  a company

Millennials are purpose-driven- You are wrong if you believe that money motivates employees. This generation is investing where their hearts are. They are even willing to work for lower pay if it means helping a greater social cause.

Flexibility is the key to stability- The majority of Millennials, favour a hybrid working pattern, and a flexible working environment. According to the report by Deloitte millennial survey 2021, 67 percent of Indian millennials would prefer this arrangement. There is a growing desire for hybrid/remote work arrangements since it allows individuals to save money and spend more time with their families and hobbies.

Socially and environmentally responsible-Millennials are socially conscious beings. They believe it is their responsibility to contribute to making the world a better place. Working for a purpose-driven company satisfy their desire to contribute to society. According to Deloitte's millennial survey in 2022, “About 95 percent of millennials try to minimise their impact on the planet. Millennials want their companies to invest in areas such as eliminating single-use plastic and offering training and incentives to encourage individuals to make better environmental decisions.”  

Work-life balance- Millennials are the first generation to have grown up with technological advancement. As a result, people do not regard the office to be the only place where they can work or the location where one can be productive and successful. They also prefer quality of life over money. Being technological prowess, they take advantage of technology to promote work-life balance and be productive. As a result, organisations and business leaders must play a role in assisting their employees in establishing boundaries to maintain a healthy work-life balance.

Upskilling-Millennials will not work for a company that does not invest in their professional development. Most employees leave their jobs because it seems unproductive. According to Deloitte's 2022 Millennial Survey, learning and upskilling possibilities are the most important factors to consider while looking for a new job.

As a result, this workforce generation is resilient and determined, and they will only work with an organisation that shares their vision for a better future, supports these qualities, and facilitates their aspirations in any way they can.

(Sandeep Budhiraja, Co-Founder and Executive Director - HR Practices, BYLD Group)



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