Are You Ready for a Millennnial Workforce?

Starting next year, Millennials will make up a majority of the workforce, but corporate attitudes toward them may need to change.

November 18, 2014

NEW YORK – According to a new article from Fast Company, in 2015, Millennials (those born between 1981 and 1996) will become the new workforce majority, eventually remaking the workplace in their own image. This begs the question: Is your company ready for them?

The article cites research by Elance-oDesk and Millennial Branding, a research consultancy, who interviewed more than 1,000 working Millennials and 200 older hiring managers to arrive at what they call the “disjoints” in thinking between these two generations.

According to the research, roughly two-thirds of hiring managers agree that Millennials have more equal attitudes toward genders in the workplace. But the report suggests that gender-based discrimination is still prominent. More than 20% of Millennial women say that when they arrive at their new jobs, they feel like work is worse than they expected, compared to only 12% of Millennial men.

Three-quarters of the Gen X hiring managers assumed that Millennials were primarily motivated by money. But when Millennials themselves answered the question about their top priority, only 44% agreed. Meanwhile, Gen X hiring managers underestimated how much Millennials prized being part of a good team and working on exciting projects. At the same time, hiring managers consistently value Millennials’ tech-savvy and adaptability. However, concludes the article, it remains to be seen whether traditional companies can evolve quickly enough to attract and hold onto young talent.

For more on the Millennial demographic and how convenience retailers can attract them to stores, read “Meet the Millennials” in the April issue of NACS Magazine.

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