What Are The Millennials Up To?
Almost as common a topic among an earlier generation as the weather, Millennials have been noticeably absent from workplace trends. Or have they? With trends like ‘quiet quitting’ identified by TikTok instead of the Harvard Business Review, are the Millennials back with a vengeance? A classic article by FirstUp may offer a few Scooby clues into the ‘quiet quitting’ trend.
From the article, Gallup notes:
- Millennials are the least engaged generation in the workforce. Only 30 percent are engaged while 55 percent are not engaged, and 15 percent are actively disengaged.
- They change jobs more often than other generations. About 21 percent of Millennials report switching jobs within the last year, and 62 percent are open to a different opportunity.
- Millennial turnover costs the U.S. economy an estimated $30.5 billion annually.
- 44 percent of Millennials say they are more likely to be engaged when their manager holds regular meetings with them. But only 21 percent of Millennials meet with their manager on a weekly basis.
- While half of Millennials say they feel good about the amount of money they have to spend, less than 40 percent are what Gallup defines as “thriving” in any one aspect of well-being.
Deloitte’s Way-Back Machine
Pre-pandemic research also sheds some light. According to the article, Deloitte notes:
- Only 48 percent of respondents in a survey of 10,500 people believe corporations behave ethically, a decline from 65 percent> in 2017
- Just 47 percent think business leaders are committed to helping society improve, down from >62 percent a year earlier.
- A majority of Millennials across the world agree with the statement that businesses “have no ambition beyond wanting to make money.”
- 69 percent of employees who believe their senior management teams are diverse see their working environments as motivating and stimulating versus 43 percent who don’t perceive leadership as diverse.
- >43 percent of Millennials envision leaving their jobs within two years while only 28 percent seek to stay beyond five years. The 15-point gap was a seven-point increase from the previous year.
Where They Want to Work
What’s it all mean? CEO Michael Bush has some insight. The article concludes, “The Best Workplaces for Millennials give employees the tools they need to succeed,” wrote CEO Michael Bush. “They set the bar for other organizations seeking to retain and develop the next generation of leaders and prove that giving Millennials jobs with purpose and meaning drives them to give their best at work, benefitting the company as a whole.”
Expecting more from the workplace, their employers, and setting the bar high for organizations to recruit and retain, is something every generation in the workplace benefits from. So TikTok trends like quiet quitting will pass if employers make the changes they need to for a modern workforce. But, on the other hand, employers who don’t adapt may say, “And I would have gotten away with it too, if it weren’t for you meddling kids!”
Trent Lyons is a Technical Recruitment Lead at Business Centric Technology. If you are interested in learning more about how to get the best IT talent in the Dallas metroplex, contact Trent, who specializes in recruiting IT talent in Dallas, Ft. Worth, and North Texas. If you are looking for a rewarding career, contact us today.