PwC’s NextGen: A Global Generational Study, reveals that enhancing workplace flexibility and equity between work and home is one of the keys to improving job satisfaction among Millennials. According to the report, while younger workers are more tech-savvy, globally focused, informal, and willing to share information, they do not feel more entitled or less committed than their non-Millennial counterparts, and are willing to work just as hard.
Conducted by PwC, the world’s largest professional services firm, the University of Southern California and the London Business School, the survey captures the various forces at play that are influencing the experience of Millennial or “Generation Y” employees, including workplace culture, communication and work styles, compensation and career structure, career development and opportunities and work/life balance. They surveyed tens of thousands of employees of PwC firms from around the world—in 18 territories, throughout every one of the PwC's lines of business.
Data sought to measure factors relating to workplace retention, loyalty, and job satisfaction and compared responses among Millennials to non-Millennials at the same stage of their careers so that generational differences would be the primary differentiator between the two sets of employees. A key finding was that many Millennial employees are unconvinced that excessive work demands are worth the sacrifices to their personal life. Seventy-one (71) percent of PwC Millennial employees (vs.63 percent of non-Millennials) say that their work demands interfere with their personal lives.
In addition to assisting the firm in better understanding the needs of its own workforce, PwC’s NextGen study has the potential to help organizations across a wide range of industries create an exceptional experience for their customers, employees and other stakeholders by identifying the elements that drive satisfaction among Millennials.
For example, the report recommends introducing or accelerating your global mobility program". The NextGen study found that more Millennials (37%) view the opportunity to work overseas as part of their desired career path than their non-Millennial counterparts (28%). Consider introducing a global mobility program, with either short or long term assignments offered outside of the employee’s home country. Providing these opportunities not only adds to the development of the individual working abroad, but also helps to create a cadre of future leaders with a global mindset.
For more information and advice, download the complete study