The changing millennial mindset: What they want and how employers can motivate them

January 31 , 2020 | CATEGORY : SERVICES

Millennials or Gen Y (comprised of those born between 1981 and 1996) are most clearly set apart as being very technologically savvy, having grown up with access to the internet, social networks, smartphones, tablets, and the entire gamut of technological gadgets.

Today, India is home to one of the largest millennial populations. Research indicates that by 2025, 75% of the workforce will be dominated by millennials.

As such, a shift in the workforce is also to be expected if not already in motion. I experience it when I interact with Hi-Potentials in the organisation or when I see a team of youngsters spearhead our key digital initiatives. Millennials come with their unique strengths and weaknesses, and need to be handled differently than the generations that came before them. Before we get into how employers can motivate them, we need to understand what exactly millennials expect from a job.

Here are some of the key millennial motivators.

  • Making an impact

Millennials look for jobs where they can truly immerse themselves in every aspect of a business. They aim at landing a job where they can make a positive impact. It makes me happy when youngsters come up to me and ask me the purpose of our business.

  • Purpose over pay

Fair and appropriate pay although an important motivator, is not the primary motivating factor for millennials. They are more likely to take a job with lower pay if the position gives them a sense of meaning. Strong brand values and culture along with seeing how their work adds value to the company is what millennial employees are looking for. 

  • Flexibility

One of the most important factors that millennials look for is flexibility. I remember an interview where a candidate asked me if we offered flexible working hours every day! For someone who has been in office ‘on time’ almost every day, this was quite a request.

  • They want a coach, not a boss

A role of a supportive mentor is what millennials expect from their managers. They want a mentor they can trust, someone who is invested and interested in their professional development. I always encourage this. I think youngsters can learn a great deal from the experience of the senior members in the team.

  • Volunteering opportunities

Millennials give importance to volunteering opportunities as they deeply wish to make a positive impact on society. At Allcargo, we have our employee volunteering programme Allcare that encourages employees to partner our Corporate Social Responsibility (CSR) efforts and spend a part of their work hours working for the good of society.

While it might seem overwhelming for organisations to cope with the demanding and complicated needs of millennials, enterprises that embrace the shift can benefit immensely.