With the Millennial generation (born after 1980), companies are having to contend with workers whose wants and needs defy tradition.
According to an article in docstoc.com, “Direction and specificity may be lacking from the Millennial business plan, but their drive for success is just as real and tangible as generations past. The difference lies in how they define that success.”
Here are some statistics that help define exactly what a Millennial is:
>> 65% of Millennials are employed either full- or part-time.
>> Millennials will account for 60% of the American workforce by next year.
>> By 2025, Millennials are projected to account for 75% of the workforce.
>> 94% do not support the status quo when it comes to the current model of economic and career success.
>> 36% say they need to challenge the power of corporations and other special interests.
>> 43% say their experience with the recession and corporate bailouts motivates them to create a career in which they define success for themselves and work according to their own rules.
>> 77% expect their personal lives to take precedent over their professional lives.
>> While 65% say being successful in a high-paying career or profession is “important,” nearly 80% of respondents say their work environment will be more important than the size of their paychecks.
>> Only 30% say they’re somewhat or very willing to work in an unpleasant environment to achieve career success.
>> 70% of respondents say the ability to make their own hours is either somewhat or very important to them when choosing a caerer.
>> 40% of Millennial women say their ideal career would include working from home at some point, while 33% of Millennial men say the same.
>> In total, 66% of Millennials say it’s somewhat or very likely that they will switch careers in their lifetimes.
>> 57% of employed Millennials have no plans of staying at their current job for the rest of their careers.
>> 61% say their current job is a springboard to another.
>> 60% of employed Millennial workers have already switched careers at least once.
—Sources: docstoc.com, Center for Women & Business, Pew Research Center, Time magazine