How Millennials Want to Work and Live
“Demographics is destiny,” goes the quote, and for those of us who believe that to be the case preparing our companies and operations to deal with different demographic groups is essential. Millennials, born between 1981-1996, overtook Boomers as the largest segment of American society in 2019 – now over 72 million. 48% of millennial women are mothers. | Millennials make up 35% of the U.S. labor force | 44% of millennials are married.
Here is the recent Gallup study of millennials entitled “How Millennials Want to Work and Live.”
Millennials As Employees
As employees, millennials’ wants and needs are not all that different from those of the generations that preceded them. But unlike members of those earlier generations, millennials have instantaneous and far-reaching opportunities to research companies and jobs. They behave as consumers of the workplace, weighing their options and continually looking for roles and organizations that enable their best performance. Leaders and managers must understand what millennials expect from their jobs, managers, and companies. Page 13
Millennials As People
Are millennials really that different from members of other generations? Millennials differ in a few significant ways from their older counterparts; some of these differences are authentic, unique traits, while others reflect the technological world in which millennials matured. But millennials also have plenty in common with Gen Xers, baby boomers, and traditionalists. Page 57
Millennials’ Economic Impact
Millennials are an influential force in today’s economy, and their economic strength increases with each passing year. However, businesses are largely failing to connect with millennials as consumers and brand ambassadors. If companies want to strengthen millennials’ customer engagement, they must recognize what defines and drives this generation’s ideal customer experience. Page 103
“Why does any of this matter? Because the strength of the workplace and marketplace depends on what the millennial generation can accomplish. If millennials cannot find good jobs, the economy will continue to lag. If they are not engaged in those jobs, companies’ profitability, productivity and innovation will suffer. And if they are not thriving in their well-being, they will struggle in life, affecting how they perform as citizens, consumers, and employees.”
IHMM has 927 ASHM and Student CHMM credential holders, the vast majority of whom are Millenials.