A study from the Kenan-Flagler Business School gives us extensive insight about millennials along with some analysis by Matt Miller, a Forbes contributor (“Why You Should Be Hiring Millennials [Infographic]” 7/3/12). From that study, we learn 33% of millennials do not value salary as the overriding factor in choosing to accept a job offer. Three additional factors are more important to them.
The first factor is social-media freedom. This means they do not want their ability to stay connected and attentive infringed by their employer. The second factor is device flexibility. This means they want the freedom to do business using whatever electronic device might allow them to get the job done as quickly and as efficiently as possible, independent of company convention. The third factor is work mobility. No doubt, partially related to the first two factors, this means they strongly prefer not being tied to a fixed work location. Rather, they desire their jobs allow them to work from home, while traveling, at the park, on the beach, or wherever. Millennials understand all the benefits of technology and social media, and they intend to use them.
Be reminded, the above three factors are more important to 33% of millennials than salary. My guess is that percentage will continue to grow just as the nature of work continues to change. Millennials have much more invested in these business evolutions than most of their older-aged colleagues. For millennials, most of their working lives have been immersed in social media coupled with the most advanced electronic and computing devices we have ever known.
Millennials have also figured out early that what you do and its intrinsic fulfillment is more valuable than what you earn financially. This bodes well. I have never seen an engaged employee who is not productive. Somehow, these millennials have figured out how to engage. Once that happens, everything else tends to fall into place.