Millennial workers are more ambitious, more eager to hear feedback about their performance and more likely to look for new employers than older colleagues.
According to new research of 18-34 year-old employees by Euromoney Learning Solutions, almost three-quarters of millennials said they have a different attitude to working life than those in their forties and fifties.
Some 37 per cent of millennials said that they are more ambitious than their colleagues who are 35 or over, while 23 per cent said that they wanted more recognition and feedback. The reputation of younger workers as job-hoppers was also cemented by the results, with nearly a quarter stating that the main difference between generations is that millennials are less likely to work for the same organisation for more than five years.
The survey looked at key areas such as career progression, training opportunities, recognition and feedback, flexible working, collaborative working, quality of workplace environment, social media and technology use, CSR and innovation.
Around 71 per cent of millennials said that they have excellent or good prospects for advancement, with just 13 per cent who declared that they were in a dead-end job.
The majority of millennials are employed somewhere with flexible working opportunities and the most common option is flexible working hours, enjoyed by 34 per cent.
However just a third of millennials said they received training designed to help them progress up the career ladder, and one in ten said they received no training at all.
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Collaborative working proved popular with millennials with three quarters reporting that they frequently or sometimes work together. Just seven per cent said that they always work alone.
Encouragingly Guy Cooper, managing director, Public Courses and In-house Training at Euromoney Learning Solutions, said many businesses were already “millennial friendly”.
“Millennials are expected to be three quarters of the workforce by 2025 and organisations that provide the best environments for these workers and adapt to their preferred ways of working are likely to enjoy a real competitive advantage when it comes to recruitment,” he said.
However businesses can do more especially when meeting millennials training needs.
“Organisations which neglect training can lose out on unlocking the potential of their staff – and can find themselves struggling when it comes to retention and recruitment. Our research shows that the majority of companies need to see if their training provision is working to support their long-term needs.
“If almost a third of millennials are receiving very little to no training opportunities, it means that the organisations they work for are at risk of demotivating or losing employees by failing to spot and nurture existing talent.”
Just under half of all millennials also said that social media isn’t used well in their organisation.
“It’s not just that this could be frustrating for more digital savvy employees,” added Cooper. “This indicates that almost half of British businesses could be failing to maximise the existing skill sets and interests of their millennial employees.”
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