Thursday, September 14, 2017
Which jobs don't Millenials like?
This weekend, one of my executive students told me that she is able to hire college graduates in Chicago for only $30K/year if they get to work in a downtown office. However, these same graduates turn down sales jobs that pay $50K. She ascribes it to the “cool” factor of working in a downtown office, i.e., to get a graduate to work in the relatively uncool job of sales, you have to pay them a $20K compensating differential. HT: Megan
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There’s no shortage of headlines about millennials – those aged 18-35 – searching for jobs that offer a strong sense of meaning, not just a paycheck. So you can imagine the surprise when a recent global survey of 26,000 LinkedIn members, run with Imperative, found millennials to be the least purpose-driven generation. The survey results show that sense of purpose deepens the further along you are in your career: 48% of baby boomers (those aged 51+) report that they prioritize purpose over pay and titles. They’re followed by Gen X (aged 36-51) with 38%, and finally, millennials at 30%. Achieving a low score doesn’t necessarily mean that millennials don’t want meaningful work. The survey also revealed 74% of candidates want a job where they feel like their work matters. That means both companies and employees should make creating meaningful work a priority. (Vesty, 2016)ReplyDelete
Millenials may value the prestige of working at a downtown office more than their salary. It could be how they view the environment they work in as higher level. Jobs where they get their hands dirty or have to do manual labor will be much less appealing as well. This generation seems to want to do more good for human kind or work for themselves.
Vesty. Lauren. September 14, 2016. "Millenials Want Purpose Over Paycheck." Derived from: https://www.theguardian.com/sustainable-business/2016/sep/14/millennials-work-purpose-linkedin-survey Accessed on 9/17/17
Millennials as a generation are making 20 percent lower average salary than previous generations. They are looking for a stable position while at the same time not bending on other necessities such as a flexible work schedule and focus on work life balance. For some Millennials with gobs of student debt, the appeal of living in a large city may still outweigh their desire to pay off their loans quicker.Delete
“The common conversation around millennials and paycheck is that the generation prefers to work for a purpose instead of a paycheck. Purpose doesn’t pay the bills, so a more accurate statement is that millennials will choose purpose over a paycheck, but they still want to get paid.” (Gay, 2017)
To build off Mandy’s post, Millennials find working for employers who are making a difference as a bonus to a larger benefit such as telecommuting or remote work. Employers and recruiters are now catering to these expectations set by this part of the workforce because the trends have changed from the baby booming generations.
Recently, our organization that has always been conservative with the work from home approved positions, took the steps to reevaluate the approved job to see if others could be added. While IBM and Google are bringing their workforce back to the offices, our organization’s leadership began listening to the conversations being had internally and at a recruitment level. Being so close to the IT recruitment aspect of HR, being able to advertise a position as having remote options can attract certain millennials that we may have lost in the market due to a lower salary or benefit options. One of the positions listed on Forbes.com as desirable for millennials is listed below. This position falls in the hard to fill category for numerous reasons but without offering a remote option, this would be an impossible to fill.
Enterprise Solutions Architect
Salary range: $91,956 – $164,839
About this job: Customer- and sales-oriented professionals with strong technical solutions experience are sought for the enterprise solutions architect position, where they work closely with customers and technical project managers to craft solutions in areas like product development, data integration, and other complex implementations.
Gay, W. (2017, September 20). Millennials, Here Are 8 Remote Jobs That Pay Over $100,000. Retrieved September 22, 2017, from https://www.forbes.com/sites/wesgay/2017/09/20/millennials-remote-work/#3a6c786e72ce
"Millennials are loyal to a job rather than an employer. This is partly a response to their parents sometimes being loyal to a firm that would often lay them off without hesitation when times got rough" (Moore 2014). Working downtown is an incentive for millennials, however so is hopping to another job that pays 20% more. Where as their parents worked for the same company for years, the work place doesn't define millennials and there isn't the same loyalty as the baby boomers.ReplyDelete
"Instead of focusing on a salary, today’s 20- to 30-something worker is more focused on work/life balance, being valued and making a difference" (Maurer 2016). According to Froeb (2016), "A company can be thought of as a series of transactions. A well designed organization rewards employees who identify and consummate profitable transactions or who stop unprofitable ones" (p.22). What's a little tricky with the millennials is knowing what motivates them and recognizing the differences between them and other generations. "And to engage Millennials, employers need a new playbook, he said. “I think Millennials will be better employees than my generation [Clifton, at 64 years old, is a Baby Boomer], but you must create the right environment for them.” If HR doesn’t shift its thinking and practices to accommodate these workers, he said, “you won’t attract stars. You’ll have employees, yeah, but not stars. If you do happen to get lucky and hire a star, you won’t hold them" (Maurer 2016).
Maurer, R. (2016) From Paycheck to purpose: How Millennials Are Changing Work. Society For Human Resource Management
Moore, K. (2014) Millenials work for purpose not paycheck. Forbes
I agree millennials defiantly look for a job with that cool factor, but even when you have hired a millennial keeping them at the job will be more challenging then past generations. Previous generations were loyal to employers and worked hard for higher pay but millennials look at their free time as an important as their pay. Meaning a millennial, will weigh a high paying job to one that is lower for more free time, and time to them is a limited resource to be spent wisely (Miller, 2015)ReplyDelete
Millennials, once in a job is devoted to the job not to the employer. For employers this is challenging because if they perceive the job will continue to be boring, no matter how high the pay, they will leave. As an employer, you will have to create a work environment that interests them by creating a social environment, with a team atmosphere, and give them a sense of purpose. (Miller, 2015) Although, if this done well millennials will be hard working show great value to its organizations.
Millennials, finally looks at its employer differently then other generations in the past. Meaning, millennials look to see how their employer is affecting the community and is its purpose aligned with their own. For example one main question they will ask is, does the company’s concern with social responsibly match theirs? (Miller, 2015) So form this, organizations have to move forward right now to meet the new standards for recruiting and retaining their most valuable asset, which is their employees. (Miller, 2015)
Miller, Adam (2015, March 26). 3 Things Millennials Want in a Career (hint: it’s not more money). Fortune.com. Retrieved: September 24, 2017.
I tend to agree with the statement that younger workers are moving to cities. Dubbed the “Go-Nowhere” generation (Buchholz & Buchholz, 2012) they are trending as a non-driver licensed group that prefers to live where they work, eat and socialize. “In the U.S., decreases in auto travel have not been compensated by upticks in other modes. If not going nowhere, the Millennials are clearly not going as many places as previous generations.” (McDonald,2015) As travel options increase with the rise of UBER and LYFT, this gives more options for low cost, convenient travel rather than owning a vehicle.ReplyDelete
“The young adult labor force is attracted to cities with positive economic prospects and the presence of lifestyle amenities.” (Moos, 2015) In my own home city of Buffalo, we are experiencing a renaissance of our downtown area where millennials are attracted to despite high rents. There is much talk of us becoming a “walking city” where the preferred travel mode has become hiking it, the bike, public transportation and /or UBER and LYFT. “Increasingly, young adults may rent condominium units or share with roommates because of the prohibitive cost of housing or to avoid a long commute.” (Moos, 2015)
I found it astounding that “by age 25 to 34, the largest share of workers (39 percent) is employed in a managerial or professional occupation.” (The Millennials, 2013) With statistics like this and the mere fact that millennials account for the largest segment of the workforce in America – 56 percent, employers should take note of other interesting desires of these workers. From Worldatwork.org: “Affordable health care with wellness offerings, having a CEO that speaks to employees about issues important to society and finally, as they are financially savvy, needing a great retirement plan is paramount to Millennials.”
The, N.S.E. (Ed.). 2015 “Millennials:americans born 1977 to1994”. Retrieved from http://ebookcentrl.proquest.com
Moos, M. (2016). From gentrification to youthification? The increasing importance of young age in delineating high-density living. Urban Studies, 53(14), 20th ser., 290-2920. Retrieved September 24, 2017, from http://resolver.ebscohost.com.library.esc.edu/openurl?sid=EBSCO%3aahl&genre=article&issn=00420980&ISBN=&volume=53&issue=14&date=20161101&spage=2903&pages=2903-2920&title=Urban Studies (Sage Publications%2c Ltd.)&atitle=From gentrification to youthification%3f The increasing importance of young age in delineating high-density living.&aulast=Moos%2c Markus&id=DOI%3a10.1177%2f0042098015603292&site=ftf-live
Buchholz T., & Buchholz, V. (2012, March 10). The go-nowhere generation. The New York Times . Retrieved from http://www.nytimes.com/2012/03/11 opinion/sunday/the-go-nohere-generation.html?_r=2&
Mcdonald, N. C. (2015). Are Millennials Really the “Go-Nowhere” Generation? Journal of the American Planning Association, 81(2), 90-103. doi:10.1080/01944363.2015.1057196
Millennials Turning Down Jobs Over Insurance Offerings. (n.d.). Retrieved September 24, 2017, from https://www.worldatwork.org/waw/home/html/home.jsp
I work and manage a Cricket a retail wireless store, and a timely yet fitting conversation took place recently when I ran into a long time customer/friend who owns a cement company. This business has been around for over 30 years so I asked him about work and how the jobs were coming along. I didn’t expect his answer when he said worse than ever before. He went on to say the problem had nothing to do with jobs and contracts opportunities he said there is more work than he can handle. The problem is finding or retaining good workers. This was a surprise to hear since I am aware that he pays well, he gives time off, flexible with schedules and treats employees exceptionally. He shook his head and said in today’s day and age “people just don’t want to work”. In my mind this equated to millennial’s.ReplyDelete
This is a prime example on a type of job/career that remains high in demand, why? Well let’s face it this is one of those “jobs” millennial’ s do not want, nor like and lastly does not fit the “cool” profile as Luke Froeb mentioned in his article.
Simon Sinek (Jan 2017) talked about what purpose the millennial’ s expect to have in a place of employment they are as follows- Impact, entitlement, purpose, satisfaction and FOOD! The problem is they could very well have all these things and still not be a happy camper. Addicted to social media these millennial’s are hitting the work industry hard with new trends, demands and turnover.
Froeb Luke (Septemer 14, 2017) Which jobs don’t millennial’s like? Managerialecon.blogspot.com
Sinke Simon (January 5, 2017) Millenials in the workforce https://youtu.be/hER)Qp6QJNU
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Millennials, generally those born between 1980 to 2000, don’t like task oriented jobs where ideas and the growth of ideas are stunted. They want a higher profile job that looks “cool” in a downtown happening environment that feels alive. They prefer a work environment where they work with you rather than for you. They need to feel that they are contributing to the greater good of the company and not just performing a task.ReplyDelete
Millennials also prefer a casual work environment with a casual dress code rather than the suit and tie that older generations wore. They also prefer healthy choices in the company cafeteria, gym memberships, and other similar benefits. A benefit in the here and now means more than a 401K that they might cash out on in the distant future.
They also value work/life balance over extra money. Flexible hours are also important and so is criticism, but from a positive perspective. It’s easier to hear I think we can improve something by doing something different, as opposed to you did that wrong and you must do it this way.
Millennials do like tech jobs like Facebook and Google where 29 is the median age (Beccalori. 2017). These jobs offer a culture and respect, which to a millennial, means more than money. That is a value judgment that is different from previous generations. To a millennial, ideas matter more than tangible things. Social networks are full of youth who are involved in social activism. This trend carries into the workplace where they want to see themselves in purpose-driven employment where their ideas matter and are brought to fruition (Vaughan. 2016).
I have had millennials in our office. In an accounting environment there are mostly task oriented duties. There are procedures, processes and internal controls that are crucial to the accounting environment. Making a change requires careful thought and millennials have never been granted the ability, especially as a new employee, to make changes without permission. I’ve always said, “If you have an idea please share it and let’s talk about it before implementing.” Those are not words that millennials generally want to hear. However, I have had the pleasure of meeting and supervising some great, intelligent millennials who have great ideas and have gone on to bigger things.
Beccalori, J. (2017, September 20). Millennials, loyalty and corporate culture. Forbes Entrepreneurs. Retrieved on October 5, 2017 from https://www.forbes.com/sites/entrepreneursorganization/2017/09/20/millennials-loyalty-and-corporate-culture/#1c45bd6582d4.
Vaughan, E. Why millennials vale company culture above all else. Association for Talent Development. Retrieved on October 5, 2017 from https://www.td.org/Publications/Blogs/Human-Capital-Blog/2016/06/Why-Millennials-Value-Company-Culture-Above-All-Else.
The millennial generation ranges from 1982 to 2002. Millennials will represent 40% of the total workforce by 2020. (Efron, 2015). The problem with millennials is that they are so focused in social media and looking for a “cool” job that they can show off to others than something that will pay the bills. Younger generation workers are not shy about telling employers what they want. Their way of looking at the world and life is often misunderstood by older generation managers. They don't buy into the concept of sitting at a desk ten hours a day. They see a bigger picture, leveraged by technology. They would prefer to have more of a life.ReplyDelete
I am a millennial myself, who has been in the work force for about 10 years. I do believe that there should be a work life balance. I work for a financial institution where do have somewhat of a balance, but I do not believe in the “cool” factor. I used to work in the down town setting which was enjoyable but when a new opportunity presents itself, I would not walk away from it because it wasn’t in the location I’d want.
Efron, 2015. Why Millennials Don’t Want to Work for You, https://www.forbes.com/sites/louisefron/2015/12/13/why-millennials-dont-want-to-work-for-you/#4f2af80b1bef
Millennials have been stereotyped as “the ME generation” because they prefer spending money on self-satisfying experiences over spending money for ownership of tangible items. (Frankel 2017) The motivation for Millennial’s in the workforce is to align with a company culture offering work/life balance that includes social and personal benefits. 60% of millennials favor jobs that offer flexibility with schedules, ability to work from home, wear jeans to the office and provide learning opportunities. (Smith 2017) Choosing a job that rates higher in the “cool factor” than salary is not surprising. “64% of Millennials would rather make $40,000 a year at a job they love than $100,000 in a job they think is boring. 88% prefer a collaborative work culture to competitive one.” (Smith 2017) Millennials also seek positive feedback from management as a validation for the quality of their work.ReplyDelete
With 92 million Millennials compromising of more than half of the labor force, (Frankel 2017) employers are shifting workforce policies to attract and retain Millennials with technical proficiencies necessary to keep the business competitive in today’s market place. Trendsetting companies like Google, Facebook and Apple have been successfully recruiting Millennial workers by evolving with their needs. Other companies have followed suit by offering flex-time, work from home, casual dress, job progression initiatives and lucrative tuition re-imbursement plans.
It is estimated by 2025 Millennials will engage 75% of the workforce. (Smith 2017) It is important for companies to attune and understand the Millennial generation’s needs to appeal to employees who will benefit and sustain the company for the future.
Adkins, Amy and Rigoni Ph.D, Brandon. (May 16, 2016). “What Millennials Want From A New Job”. Harvard Business Review. Retrieved from: https://hbr.org/2016/05/what-millennials-want-from-a-new-job
Frankel, Matthew. (July 19, 2017) “14 Millennial Statistics That Will Blow You Away.” Fool. Retrieved from: https://www.fool.com/retirement/2017/07/19/14-millennial-statistics-that-will-blow-you-away.aspx
Froeb, Luke. (September 12, 2017) “Which Jobs Don’t Millennial’s Like?” Managerialecon.blogspot.com
Smith, Allen J.D.. (May 18, 2017) “Understand Millennials to Bolster Job Retention”. Society For Human Resource Management. Retrieved from: https://www.shrm.org/resourcesandtools/legal-and-compliance/employment-law/pages/understand-millennials.aspx
In this instance, I could see where a Millennial could get caught up in the atmosphere or environment of wanting to have a “cool” job out of college. During my time at Empire State College, I’ve been in car Sales since January of 2012. Upon graduating from my Bachelor and immediately starting my MBA program, I have stayed in the same job up until I recently took a position as Finance Manager with the dealer I was working for; the pay not dramatically higher than sales but the commission earnings, about 80% of my pay, is much greater than sales. While I do have a Bachelor’s and am in process with my MBA, I could be in an according position in a different industry making much more with more stability and guaranteed pay, but for being 23, being able to say I can take a Corvette home and drive any new car I want off the lot, is pretty cool and helps look past the lower amount of money I’m making that I could be making much more somewhere else.ReplyDelete
In the Froeb text, he tells us of how an organization should be to retain and keep the best staff in order to see a successful business. One way he says this should be done is by recognizing and rewarding staff who bring in profit or stop habits that cause a loss of profit. The difficulty is the measure of how to award employees as millennials find a different kind of reward in their work then other generations. This makes it difficult for HR directors, especially those who have served a long career and a different generation of employees, to retain the right millennial talent.
Marketing of New Products is very difficult no one to connect with this types of jobs. But some people take it as challenge.ReplyDelete
Millennials reinforce their “Giving Generation” nickname. Benefits such as volunteer time off and charitable gift matching have increased in popularity with employers of millennials.ReplyDelete
Capital Group’s study found that 82% of millennials say it’s important for companies to promote the health and wellness of consumers and employees in their investment portfolio, which is higher than for boomers. Companies must make sure that investment options in their retirement programs have socially responsible options. The difference between millennials and previous generations deepens when considering minority groups and their well-being.
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Thanks for sharing. I found a lot of interesting information here. A really good post, very thankful and hopeful that you will write many more posts like this one.ReplyDelete
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