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Millennial Expectations
of the Workplace
Millennial Attraction
Eduardo Baudet
Clement Bel
Leila Jahanshahi
Yash Mehta
Vilian Zhekov
Agenda




Objectives
Introduction
Methodology
Themes
- Results and Discussion

Most admired companies
Feedback
Values
Social Media
Teamwork
Career advancement
Work-life balance
Pay
Benefits
Optimism
Skills and training
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 integrated
research approach
1
2
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.
We surveyed 260 millennials
•
•
The dropout rate was 47%.
136 surveys were fully completed.
N=136
70%
59%
60%
50%
Female
50%
Male
50%
40%
27%
30%
20%
10%
6%
2%
2%
2%
A-Level or
equivalent
(high school
diploma etc.)
First year
bachelor's
Penultimate
year
bachelor's
1%
0%
Final year
bachelor's
degree
Master's
degree
Phd
Other
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.
N=136
25%
21%
21%
20%
15%
11%
10%
10%
7%
5%
5%
3%
0%
American
Belgian
British
Bulgarian
French
Germany
Indian
Data Analysis
We asked millennials which
companies they admired
Q. Which company do you admire the most?
11%
13%
11%
“I love Google’s creative
culture, open atmosphere,
background diversity and the
their constant innovation.”
8%
8%
11%
18%
Apple
BCG
Facebook
Google
McKinsey
Nike
“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.”
United Nations
Out of 130 respondents in the survey
18% chose Google to be their most admired company.
Consulting and Marketing are the
most popular industries
Q. Which industry do you want to work in the most?
N=136
25%
21%
20%
15%
15%
13%
12%
10%
9%
8%
6%
5%
4%
4%
3%
2%
2%
0%
*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
Q. Scale the attributes you consider most important when making career choices
100%
90%
89%
84%
81%
80%
79%
71%
70%
61%
58%
60%
56%
49%
48%
50%
49%
40%
30%
25%
18%
20%
10%
0%
16%
15%
10%
3%
1%
20%
3%
4%
7%
Not Important
Important
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?
50%
40%
40%
38%
30%
20%
10%
9%
0%
Email
Chat
Service
Email
Face-to-face
meetings
6%
6%
Telephone
Company social
network
Teamwork
Teamwork: Results
Q. Do you prefer to work individually or in a team?
N= 136
6%
10%
Team Work
Individual Work
Both
84%
Career
Advancement
Career Advancement:
Results (1)
•
75% of those surveyed expect to be promoted within 18 months.
Q. When would you expect to be promoted after being recruited into your first job?
50%
N=136
43%
38%
28%
25%
21%
13%
0%
4%
Less than 6
Months
4%
6 - 12 Months
12 - 18 Months 18 - 24 Months
More than 24
Months
Career Advancement:
Results (2)
•
81% expect to stay no more than 3 years at their first job.
Q. How long do you expect to stay at your first job?
40%
N=136
37%
30%
24%
20%
17%
10%
7%
0%
4%
Less than a
year
1 year
2 years
3 years
4 years
5%
5 years
7%
more than 5
years
Work-Life Balance
Work-Life Balance: Results (1)
Q. Scale the attributes you consider most important when making career choices
100%
90%
89%
N=136
84%
81%
80%
79%
71%
70%
61%
58%
60%
56%
49%
48%
50%
49%
40%
30%
25%
18%
20%
10%
0%
16%
10%
3%
1%
3%
4%
7%
20%
15%
Not Important
Important
Work-Life Balance: Results (2)
Q. How important are the following benefits to you
when you are looking for a job:
Not Important
N=137
74%
Important
57%
56%
49%
45%
41%
40%
35%
31%
26%
25%
24%
33%
32%
26%
18%
17%
9%
It was also found through the survey that millennials expect to work 9-10
hours on average per day.
Work-Life Balance: Results (3)
Q. How likely are you to sacrifice work-life balance in exchange for higher pay?
12%
N=137
3%
24%
Very Unlikely
Unlikely
Undetermined
Likely
Very Likely
41%
20%
53% of respondents are either likely or very likely to sacrifice
work-life balance in exchange for higher pay.
Feedback
Feedback: Results
• 76% of respondents would like to receive job performance feedback on a
monthly or quarterly basis.
Q. How often would you like to receive job performance feedback?
3%
12%
N=137
9%
Once a week
Once a fortnight
Once a month
Quarterly
Annually
35%
41%
Pay
Pay: Results
Q. What is your annual pay expectation immediately after graduation?
35%
N= 138
30%
30%
25%
20%
20%
17%
15%
14%
10%
9%
5%
0%
6%
1%
4%
Less than £20,000 - £25,000 - £30,000 - £40,000 - £50,000 - £75,000 - More than
£20,000 £24,999 £29,999 £39,999 £49,999 £74,999 £99,999 £100,000
Benefits
Benefits: Results
Q. How important are the following benefits to you,
when you are looking for a job:
Not Important
N=137
74%
Important
57%
56%
49%
45%
41%
40%
35%
31%
26%
25%
24%
33%
32%
26%
18%
17%
9%
Optimism
Optimism: Results
• Only 36% are either optimistic or very optimistic about securing
a job with their ideal company after graduation.
Q. How optimistic are you of the chances to secure a job with your ideal company?
N=137
7%
9%
21%
29%
34%
Very pessimistic
Pessimistic
Neutral
Optimistic
Very optimistic
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.
“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”
“The teacher should not strike fear into
the student; the teacher should strive to
make the student exceed his own
ability”
Key takeaways
Skills
development
• New skills
• Variety of work
• Promotion
opportunities
• Frequent
feedback
Open culture
Pragmatic
• Bosses as
friends
• Realistic
expectation
about pay
• Collaborative
environment
• Work-life
balance
• Group and
individual work
• 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
1
Skills
development
Offer new and challenging projects
plus training sessions for both technical
and soft skills.
Provide fast-track promotion
opportunities
2
Open culture
Advertise company’s friendly
environment and opportunities for
flexible working hours.
Implement mentor and buddy
schemes.
3
Pragmatic
Ensure transparency in pay and
benefits
Advertise company’s provision of
pension & retirement plans.
4
Meaningful
work and
innovation
Advertise company’s mission and
benefits to society
Active company presence in social
media.
•
Short-term projects
•
Diversity in training
•
Incremental feedback
•
Strengths-based tool
•
Seniors active hiring
•
Reverse mentoring
•
Structured schemes
•
Clarity with P&B
•
Tailored packages
•
Societal values
•
Partnerships
•
#Opportunities
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