Research Confirms Millennials Are Misunderstood


Millennials value personal development and work-life balance over money and status. However, they are still ambitious and believe in their own ability to steer their career.

Millennials value personal development and work-life balance over money and status. However, they are still ambitious and believe in their own ability to steer their career.

Being one finding among many, this comes from the largest independent study ever conducted on Millennials, done in partnership with the INSEAD Emerging Markets Institute (EMI), the HEAD Foundation and Universum. The project was undertaken to better understand the many stereotypes of Millennials in the workplace and gain additional insights about this important cohort, those born 1984-1996, and soon to be the bulk of the future workforce.

Of the 16,000+ global respondents, 73% chose work-life balance over a higher salary and 82% value work-life balance over their position in a company. Unlike generations before them, 42% agree or strongly agree they would rather have no job than one they hate, this is most prevalent in Chile, Lebanon and Peru. Although some broad themes prevail, the research identified key regional differences as well as differences between younger and older Millennials.

Millennials will constitute the majority of the workforce in just five to six years from now,” said Petter Nylander, CEO, Universum. “From an employer branding perspective, companies that cater to the needs of Millennials will lead in attracting, recruiting and retaining them. The scope and depth of the research has identified regional and national differences, confirming that a granular approach to managing and communicating to this generation is necessary for success.

According to Vinika D.Rao, Executive Director, INSEAD EMI, “The availability of trained and committed talent continues to be among the major impediments to doing business in emerging markets”, adding that “it’s imperative to understand what influences the career decisions and leadership behavior of this much talked-about generation.”

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Source: Universum Global

 

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