Get used to dealing with millennial workers

by Staff

In just a few years, millennials — people born from 1981 to 1997 — will make up one-third of the global workforce. By 2020, this generation is expected to have more employees in the workplace than baby boomers, Gen Xers and the post-millennial generation known as Gen Z.

Human resources consultants Manpower Group recently issued a detailed report looking at the Millennial Generation to help employers and entrepreneurs understand how this changing demographic might impact businesses as they fully engage.

Willing to work long and hard: Despite some presuppositions about millennials, the Manpower report found that across most developed countries, most workers in this generation aren’t afraid of long hours and hard work. The research found 73% report working more than 40 hours a week.

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You have to offer competitive pay, but money is only part of the equation. For example, 91% of millennials in Brazil say working with great people matters most, but that’s only 55% in Japan. A majority in every country in the study said having a job with purpose was a priority.

Millennial bar graph

Defining job security for millennials

While baby boomers and millennials define job security as involving a job that represents long-term employment, the younger group also sees job security in other equally important ways.

Job security attribute
Having long-term job
Skills match market
Standard of living
Income security
Contacts to find job
Benefits if I’m fired
How much it matters
27%
27%
24%
12%
5%
5%

Source: Manpower Group, Millennial Careers: 2020 Vision; Pew Research Center