Debunking Some Common Myths about Millennial Workers

New research by Fit Small Business reveals many misconceptions around what millennials want in the workplace. The study posed questions such as "Which benefits are most important to you?" and "What characteristics of your boss would make you consider changing your job?". Millennials now comprise 35 percent of the workforce and counting. Understanding their priorities is vital for anyone seeking to hire and retain the best talent. The findings showed that many of the preconceptions about millennials in the workplace are not accurate:
 
  1. Millennials don't want an equity stake in their company or Facebook HQ-style perks: Healthcare across all generations is the most important benefit a company can offer. 34% percent of millennials selected healthcare as their top priority, with only 5 percent wanting an equity stake, and 7 percent looking for perks.
  2. Millennials are willing to travel for the right job: When asked "How much shorter of a commute would make you consider changing a job?" 43 percent answered that they don't care how long they have to travel.
  3. Millennials take criticism better than other demographics: Only 17.6 percent of millennials chose having a mean boss as the top reason that they would leave their job. This compares to 19.3 percent of people ages 35+.
 
Christy Hopkins, HR Expert at Fit Small Business, commented on the study: "When you're taking on a new hire, you are pitching your company to them as much as the candidate is pitching themselves to you. This research lends itself to companies who are taking on millennials helping them to gain a greater understanding of what is the best way to get them on board. Flexibility is a company's strength and being able to speak to the needs of different demographics can only lead to a successful team and business."   Source: Wolters Kluwer