What We Learned from the Deloitte Millennial Survey

February 7, 2019

Top key takeaways when employing millennials

In the past, studies have shown that the 3 most important aspects of a job to an employee are

  • Salary,
  • Security, and
  • Skills

In essence, people want to feel comfortable, secure and inspired. That's not too much to ask, is it?

However, as technology improves and the nature of how we work and with whom we work will continue to change. 4.0 technologies, such as artificial intelligence mechanisms and robotics (like the ones we use at Notiv!) have made our lives much easier, but will they one day make us obsolete?

As millennials enter and dominate the workforce, it is important to understand their viewpoints of the situation. Therefore, Deloitte, a multinational professional services network, surveyed over 12,000 millennials and Gen Z employees!

What did they learn?

  1. Positive perceptions of businesses, which were once improving have taken a sharp downturn.
  2. Loyalty is no longer bankable and employees will leave if they feel like their company does not have their best interests at heart.
  3. Diversity and flexibility are important in terms of rewards and workplace culture. This is best achieved in businesses with a diverse senior management teams and a higher degree of workplace flexibility. This is why the millennials are drawn to the the gig economy, which offers temporary or contract positions with freelancers.
  4. Most millennials and Gen Z employees don't feel prepared for the advent of 4.0 technology. Despite the current and future importance of 4.0 technology, millennials were more interested in building interpersonal skills, confidence and ethical behavior.

With this little faith in businesses, it is easy to see how the gap between employees and businesses might be increasing. So, how do you ensure that your company will have your best interests at heart? Perhaps the trick is to make yourself indispensable at work!

This is not to say that, you, as a person are not invaluable, but the ability to thrive in almost any situation will not only make you indispensable at work but is a good life skill to have!

As a millennial, my personal take on the findings are a little mixed. While I can agree with several points, I take a little issue with conclusions.

Saying that loyalty is down among millennials seems a bit reductive. I'd rather look at the drivers of loyalty. After being raised in a society where we were exposed at a young age to constant development and improvement, we embrace change and understand that it's not something to avoid. Therefore, if something isn't working, we are more inclined than previous generations to try to fix it or change the circumstances. Why should we be punished by being labelled as not loyal?

As Deloitte CEO, Mr David Hill gracefully put it

"This is a generation, if they see a disconnect between the form and the substance, they'll call it."

Stand up for what you believe in.

Isn't that what we're taught and have reinforced constantly?

Yet, the second we join the workforce, we're expected and even told to stay silent and go with the status flow. Many companies rarely take the words of a entry level employee into consideration. There are, of course, pros and cons to this, and while it is changing as more millennials enter management, it is still a point of contention for many new employees.

I'm a relatively new figure to this rat race and while I have had several internships and full-time positions, I have found that my motivation at work lies in my personal belief that I am making a difference. It doesn't have to be a big, life-changing difference, but no one wants to believe they are a cog in the system.

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