Putting personal values first
The recent 2016 Deloitte Millennial Survey sums up the characteristics of millennial employees in the current workforce:
- Those that express little loyalty to their current employers do so because they feel underutilised and believe they are not being developed as leaders.
- They express positive views of businesses' role in society, softening their previously negative perceptions of corporate motivation and ethics, and cite a strong alignment of values.
- They feel that most businesses have no ambition beyond profit, and there are distinct differences in what they believe the purpose of business should be and what they perceive it to currently be.
- They often put their personal values ahead of organisational goals.
Bridging the gap
Here are some recommendations from Deloitte about how organisations can bridge the gap with millennials:
- Encouraging mentorship: Millennials with a mentor receive good advice and they feel that someone is interested in their professional development.
- Having purpose beyond profit: Corporate values that are shared with and believed by millennials also promote loyalty, particularly when employers demonstrate a strong sense of company purpose beyond financial success.
- Providing development opportunities: This allows the millennials to feel valued and gives them satisfaction in their jobs.
- Creating the "perfect" job environment: While pay and financial benefits are major drivers of millennials' choice of organisation, with things being equal, other factors come into play, for example good work-life balance and opportunities for progress.