Published on Nov 30, 2015
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The latest Millennial Survey by Deloitte found people of the millennial generation—people currently aged 11 to 34—are motivated in different ways to generations before them.
Six in 10 Millennials say a sense of purpose is part of the reason why they work for their current employer.
Millennials want to see a focus on people and purpose, not products and profit.
They want businesses to focus on generating jobs more than profit. They want to see investment in upskilling and driving innovation. They want their work to be meaningful in improving society and the environment.
These needs are not being met. 75 per cent of Millennials believe businesses are focused on their own agenda rather than helping to improve society.
“The message is clear: when looking at their career goals, today’s Millennials are just as interested in how a business develops its people and how it contributes to society as they are in its products and profits,” said Barry Salzberg, CEO of Deloitte Global.
“These findings should be viewed as a wake-up call to the business community, particularly in developed markets, that they need to change the way they engage Millennial talent or risk being left behind.”
Contrary to popular belief, Millennials don’t want to walk in and immediately be the boss; they just want the boss to be a better leader.
When asked what qualities they thought defined a leader, the top three answers were:
- strategic thinking (39 percent)
- inspirational (37 percent)
- strong inter-personal skills (34 percent)
Other notable findings from the survey include:
- Technology, media, and telecommunications (TMT) are most attractive employers. 24 percent of men and 13 percent of women rank TMT as the number one sector to work in.
- Millennial men are more likely to pursue leadership. Millennial men were somewhat more likely to say they would like to secure the ‘top job’ within their organisation than women (59 percent versus 47 percent).
- Organisations and colleges must do more to nurture emerging leaders. When asked to estimate the contributions that skills gained in higher education made to achievement of their organisation’s goals, Millennials’ average figure is just 37 percent.
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