What Millennials Want and Why

ETS is giving you insight into the largest generation in the workforce with our three part blog series, Generation “Why?”. Throughout the series ETS will provide information on Millennials including who they are and what they want in a job and in their careers. We’ll discuss why they want what they want and highlight some of the disconnects between them and older generations. We will also offer a blueprint of solutions to successfully work with this unique and vital generation. In this first installment, we’ll give you some statistics about Millennials and  try to define this generation.

Millennials by the numbers

  • Ages of the Millennial Generation: The oldest Millennial is 37 right now, and the youngest is 19  
  • Millennials are 80 million strong (vs. 75 Million Baby Boomers) -they are the largest demographic in US history and the largest generation in the US workforce
  • By 2025 Millennials will make up 75% of the workforce
  • According to PWC 2015 Study, 76% of millennials say innovation is a critical requirement when choosing a potential employer
  • More than 50% of millennials say they would take a pay cut to find work that matches their values, while 90% want to use their skills for good
  • Average tenure of millennial employee in 2015: 2 years. this means they want to grow, even if that means growing out of your company
  • The number one reason Millennials leave their jobs:  Their boss

What  Millennials Want and Why

  • They want to be thought of as an individual, not just a number or a cog in a machine
  • A job with meaning and purpose. They want to know what they are doing MATTERS.They want to work for companies that are making the world a better place.
  • They believe in lifelong learning (as opposed to the idea that graduation means the end of education) and they believe in learning from someone else’s experience. They want role-models and feedback
  • Millennial workers don’t merely nod and do as they are told by the manager, unless they see and understand the logic behind the request. They don’t want to waste their time on things reasoned with “I’m the boss, I know better.” They want to know the “why” behind  important decisions being made. They may not always agree with them, but they’ll appreciate the candidness.
  • They want frequent interaction with managers and higher-ups. Not necessarily for a pat on the back but for confirmation that they are doing what is expected of them.  Millennials want direction, they don’t want to waste time.
  • They view work as a ‘thing’ not a ‘place’. They do not see productivity as something you can measure by how many hours a person is working in the office, but instead, by what a person actually does. They want to be challenged, not bored.

Continue to part 2 of our Generation “Why?” series: The Disconnect