It has been said that millennials – born between 1980 and 1994 and known as Generation Y – will make up half of the global workforce by 2050. The topic of much conversation (this Simon Sinek talk has racked up millions of views on YouTube) this group has been described as everything from lazy and self-centered to open-minded and collaborative. It's no surprise that companies are struggling to figure them out and looking for ways to attract and engage this younger group. Luckily, we can learn a thing or two from tech companies like Amazon, Google and Apple that continuously top the list of employers that millennials want to work for.
Opportunities for growth
What is it about millennials and tech companies? Young professionals have said that companies in the tech industry can give them what they want most: career growth, flexibility and a sense of purpose. This appeals to the younger generations, whereas older age groups are more interested in compensation and the total package.
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While rumors have it that millennials prefer the flexibility of working as freelancers and consultants (and not being stuck behind an office desk from 9 to 5) it appears from our research that millennials want the best of both worlds – freelance flexibility and full-time stability. It's no surprise then that many companies are experimenting with flexible working hours.
Sense of purpose
Then the question remains, how can you retain young talent? Millennials who find 'special meaning' in their work are six times more likely to plan to stay at their workplaces (Fortune). Quick wins include helping your employees connect to their work and making them like they are part of something significant.
Dive deep into your organization
Do you want to find out what your youngest employees think and how they feel? Dive deep into a specific theme like engagement with our Theme Survey, zoom into the progress of specific teams in your organization with the Team Survey, or take a look across the organization at current strengths and weaknesses with our Employee Survey.