Millennial Expectations of the Workplace
Millennial Attraction
Eduardo BaudetClement Bel
Leila Jahanshahi Yash Mehta
Vilian Zhekov
Agenda Objectives Introduction Methodology Themes
- Results and Discussion
Most admired companies Feedback
Values
Pay
Social Media Benefits
Teamwork
Optimism
Career advancement Skills and
training
Work-life balance
Mentoring
Recommendations
Oracle: Background
• Second largest software maker in the world by revenue, with $ 37.2 billion in revenue in 2014.
• Particular specialization in provision of database services and the cloud.
• Over 400,000 customers in 145 countries.
• Also owns one of the most popular programming languages in the world – Java.
The aim of the project is to understand what attracts millennials to employers
Objectives:
• Understand which employers millennials admire and the rationale behind it.
• Explore what expectations millennials have of their employers.
• Provide recommendations for companies to attract millennials.
Introducing Millennials
Who are Millennials?1982-2000
• The Millennial Generation, born from 1982 until 2000, represents a generational cohort distinct from the Baby Boomer generation, and their immediate predecessors, Generation X (Howe and Strauss, 2003).
High expectations for careers
• They have strong expectations regarding job content, training, career development, and financial rewards, which are largely embedded within the generation. Moreover, Millennials’ expectations are significantly influenced by individual variables, careerism, and optimism (De Hauw, 2010).
Globally connected
• They have a more global orientation and understand the need for interconnectivity in the worldwide market (Alch, 2000).
Methodology
The team followed an integratedresearch approach
Quantitative
• Survey with 25 questions.
• Most questions given as a Likert scale - 1 (Strongly Disagree) to 5 (Strongly Agree).
Qualitative
• 18 semi-structured interviews for average of 20-45 minutes.
• Sampled mainly from students of the London School of Economics.
• Reliability and Validity checks: Interviewed students until no new information was being discovered and patterns started to repeat. Each interview conducted by two members of the team.
1
2
Male50%
Female50%
A-Level or equivalent
(high school diploma etc.)
First year bachelor's
Penultimate year bache-
lor's
Final year bachelor's
degree
Master's degree
Phd Other0%
10%
20%
30%
40%
50%
60%
70%
2% 2% 2%
27%
59%
1%6%
We surveyed 260 millennials• The dropout rate was 47%. • 136 surveys were fully completed.
N=136
59% of respondents stated their highest level of education was a Master’s degree. 27% said they were pursuing their final year of their bachelor’s degree.
The sample was representative of the diversity of the Millennial generation
• We had a diverse group of respondents. Around 50% of the the respondents were either French, American or Indian.
American Belgian British Bulgarian French Germany Indian0%
5%
10%
15%
20%
25%
11%
5%
10%
7%
21%
3%
21%
N=136
Data Analysis
13%
9%
9%
18%
11%
11%
11%
Apple BCG Facebook Google McKinsey
Nike United Nations
We asked millennials which companies they admired
Out of 130 respondents in the survey18% chose Google to be their most admired company.
Q. Which company do you admire the most?“I love Google’s creative culture, open atmosphere, background diversity and the their constant innovation.”
“Apple is the reference in the technology industry. I love their iconic products and their global impact.”
“BCG is my dream company and the ultimate reference in strategy consulting. I want to learn from the best and I know that working for BCG will open doors for me in the future.”
Consulting and Marketing are the most popular industries
Consu
lting
Mar
ketin
g & P
RO
ther
Entre
pren
eurs
hip
IT/T
echn
ology
Bankin
g an
d fin
ancia
l ser
vices
Public
sec
tor
Law
NGO's
Real e
stat
e
FMCG
Oil/G
as/M
ining
0%
5%
10%
15%
20%
25%
21%
15%13%
12%
9%8%
6%4%
4%3%
2% 2%
Q. Which industry do you want to work in the most?N=136
*Other includes arts & culture, sport, tourism, telecommunication
Millennial Values
Values: Results
• 84% of the respondents from the survey either agree or strongly agree that they would want to work for a company that matches their values.
“It’s really important for my values to match company’s value. If not, then technically I am simply working for a living, rather than work for my value or
the company. It would be painful to work in that kind of surrounding.”
“Opportunities for development within the company are important for me. It’s important that the company allows me to grow; while making a valuable
contribution to society.”
“I like companies that emphasize egalitarianism among its employees. I like when teamwork is emphasized as opposed to working individually. In general
companies that have a flatter structure.”
Most valued job attributes
Most important job attributes
Friend
ly wor
k en
viron
men
t
Challe
nging
pro
jects
Variet
y of
wor
k
Compe
titive
pay
Wor
k-life
bala
nce
Job
secu
rity
Inte
rnat
ional
assig
nmen
ts
Prest
igiou
s em
ploye
r
Goo
d he
alth
& ben
efits
plan
Emplo
yee
diver
sity
CSR0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
3% 1%
18% 16%
3% 4%10% 7%
25%20%
15%
84%89%
58%
48%
81% 79%
61%
71%
49% 49%56%
Not Important
Important
Q. Scale the attributes you consider most important when making career choices
Social media
Social Media: Results• On average, millennials spend 2 hours 50 minutes on social media per day.
• 66% of respondents stated that they would use social media to look for potential employers.
Q. What is your prefered method of communication at work?
Email Email Face-to-face meetings
Telephone Company social network
0%
10%
20%
30%
40%
50%
38%
9%
40%
6% 6%Chat Service
Teamwork
6%
10%
84%
Team WorkIndividual WorkBoth
Q. Do you prefer to work individually or in a team?
Teamwork: Results
N= 136
Career Advancement
Career Advancement: Results (1)
• 75% of those surveyed expect to be promoted within 18 months.
Less than 6 Months
6 - 12 Months 12 - 18 Months 18 - 24 Months More than 24 Months
0%
13%
25%
38%
50%
4%
28%
43%
21%
4%
Q. When would you expect to be promoted after being recruited into your first job?
N=136
Career Advancement:Results (2)• 81% expect to stay no more than 3 years at their first job.
Less than a year
1 year 2 years 3 years 4 years 5 years more than 5 years
0%
10%
20%
30%
40%
4%
17%
37%
24%
7%5%
7%
N=136
Q. How long do you expect to stay at your first job?
Work-Life Balance
Friend
ly wor
k en
viron
men
t
Challe
nging
pro
jects
Variet
y of
wor
k
Compe
titive
pay
Wor
k-life
bala
nce
Job
secu
rity
Inte
rnat
ional
assig
nmen
ts
Prest
igiou
s em
ploye
r
Goo
d he
alth
& ben
efits
plan
Emplo
yee
diver
sity
CSR0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
3% 1%
18% 16%
3% 4%10% 7%
25%20%
15%
84%89%
58%
48%
81% 79%
61%
71%
49% 49%56%
Not ImportantImportant
N=136
Q. Scale the attributes you consider most important when making career choices
Work-Life Balance: Results (1)
It was also found through the survey that millennials expect to work 9-10 hours on average per day.
N=137
Health
Insu
ranc
eG
ym
Reloca
tion
Assist
ance
Subsid
ised
Trans
porta
tion
Wor
king
from
Hom
e
Emplo
yee
Stock
Opt
ion
Flexibl
e W
orkin
g Hou
rs
Pensio
n Plan
Denta
l Ins
uran
ce
18%
49%
25% 24%
31% 32%
9%
17%
33%
56%
26%
45%40%
35%
26%
74%
57%
41%
Not Important Important
Q. How important are the following benefits to you when you are looking for a job:
Work-Life Balance: Results (2)
4%
24%
20%
41%
12%
Very UnlikelyUnlikelyUndeterminedLikely
53% of respondents are either likely or very likely to sacrifice work-life balance in exchange for higher pay.
N=137
Q. How likely are you to sacrifice work-life balance in exchange for higher pay?
Work-Life Balance: Results (3)
Feedback
Feedback: Results
• 76% of respondents would like to receive job performance feedback on a monthly or quarterly basis.
How often would you like to receive job performance feedback?
12%
9%
41%
35%
3%
Q. How often would you like to receive job performance feedback?
Once a weekOnce a fortnightOnce a monthQuarterlyAnnually
N=137
Pay
Pay: Results
Less than £20,000
£20,000 - £24,999
£25,000 - £29,999
£30,000 - £39,999
£40,000 - £49,999
£50,000 - £74,999
£75,000 - £99,999
More than £100,000
0%
5%
10%
15%
20%
25%
30%
35%
6%
17%
20%
30%
14%
9%
1%
4%
N= 138
Q. What is your annual pay expectation immediately after graduation?
Benefits
N=137
Health
Insu
ranc
eG
ym
Reloca
tion
Assist
ance
Subsid
ised
Trans
porta
tion
Wor
king
from
Hom
e
Emplo
yee
Stock
Opt
ion
Flexibl
e W
orkin
g Hou
rs
Pensio
n Plan
Denta
l Ins
uran
ce
18%
49%
25% 24%
31% 32%
9%
17%
33%
56%
26%
45%40%
35%
26%
74%
57%
41%
Not Important Important
Q. How important are the following benefits to you, when you are looking for a job:
Benefits: Results
Optimism
Optimism: Results
• Only 36% are either optimistic or very optimistic about securing a job with their ideal company after graduation.
9%
21%
34%
29%
7%
Q. How optimistic are you of the chances to secure a job with your ideal company?
Very pessimisticPessimisticNeutralOptimisticVery optimistic
N=137
Skills and Training
Skills and Training: Results
• 87% of respondents agree that they would like to have additional training sessions at work.
Mentoring
Mentoring: Results
• 86% percent of respondents stated that they would like to have a mentor at their job.
“The teacher should not strike fear into the student; the teacher should strive to
make the student exceed his own ability”
“I would want a very informal relationship. I would like to know that I can be honest and don’t feel as if I am
talking to a superior”
Key takeaways
Skills development
• New skills
• Variety of work
• Promotion opportunities
• Frequent feedback
Open culture
• Bosses as friends
• Collaborative environment
• Work-life balance
• Group and individual work
Pragmatic
• Realistic expectation about pay
• Job security as priority
• Willing to take job outside preferred industry
• Pension plan and health insurance
Meaningful work and
innovation
• Value matching
• Innovative companies most
admired
• Positive impact
• 2.5 hours per day in social
media
Recommendations
Skills development
Open culture
Pragmatic
Meaningful work and
innovation
Offer new and challenging projects plus training sessions for both technical
and soft skills.
Provide fast-track promotion opportunities
Advertise company’s friendly environment and opportunities for
flexible working hours.
Implement mentor and buddy schemes.
Ensure transparency in pay and benefits
Advertise company’s provision of pension & retirement plans.
Advertise company’s mission and benefits to society
Active company presence in social media.
• Strengths-based tool
• Seniors active hiring
• Reverse mentoring
• Short-term projects
• Diversity in training
• Incremental feedback
• Structured schemes
• Clarity with P&B
• Tailored packages
• Societal values
• Partnerships
• #Opportunities
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