Millennials go up to age 38, which means that many of them are managers now. And if you’re tired of reading about the largest generation and their impecunious ways, just know that within the next two years, half of the U.S. workforce is expected to be comprised of Millennials.
Intranet platform Akumina surveyed 1,051 mid-to-executive-level managers between ages 18-36 years old.
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One surprising finding? Three-quarters (75%) of respondents said that job-hopping helped them get ahead in their career. If this is true – and the data shows that 40% of respondents have had four or more jobs – it would seem that they were job-hopping in order to get promotions. (Meanwhile, according to the report, Millennial employee turnover is costing the U.S. economy $30.5 billion every year.)
This group of Millennial managers is not like the rest. While they are hard-working:
- Just 12% adhere to the average 40-hour workweek
- A third (31%) work “as many hours as it takes to get the job done”
- And 41% work between 40-50 hours a week, with 16% focusing more on tasks to get done instead of hours worked
They don’t work so hard that they can’t take some time for work-life balance, which they prize. Almost everyone – 91% – say that work-life balance ranges from “important” to “extremely critical.” Interestingly, however, 57% of those believe they’re “managing” that work-life balance via their cell-phone, integrating their personal life with their work life.
When it comes to management style, they also believe that sharing is caring. A full 70% feel that sharing personal info (about their hobbies, factoids, experiences, etc.) is an effective way to be a better manager a knit together their team.
Things Millennials love
Millennials love feedback – even managers. Based on Akumina’s research, their #1 perk would be private office hours with the company CEO.
If not that, 70% of Millennial managers said they welcome critical feedback and mentorship from other higher-ups.
They also crave recognition. 92% of survey respondents said it was “important/very important” that their accomplishments were recognized by not only their colleagues, but the more senior members of the staff.
They love to work from home – 66% says their company makes it easy for them to do this, and 89% would like to work from home at least one day a week. A third (36%) would rather spend most of their time there, voicing the preference to work from home 3 days or more on a weekly basis.
With more and more Millennials slated to move up in the ranks, it will no longer be expecting them to fit into the older generation’s workplace – it’ll be their workplace, done their way. Are we ready?
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