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  Business   In Other News  30 Aug 2019  In what kind of office culture do millennials want to work

In what kind of office culture do millennials want to work

THE ASIAN AGE
Published : Aug 30, 2019, 3:18 pm IST
Updated : Aug 30, 2019, 3:33 pm IST

4.2 per cent of respondents would like to work in an organisation that had less than 10 employees.

Among respondents in the survey, 128 were less than 20 years old, 375 were between the ages of 21-25, and 44 were between 26-30 years old. (Representational Image)
 Among respondents in the survey, 128 were less than 20 years old, 375 were between the ages of 21-25, and 44 were between 26-30 years old. (Representational Image)

Millennials, who are between the ages of 23 to 38, comprise 45 per cent of the current workforce. Unlike any generation before, they place greater emphasis on the kind of work they do and less on monetary reward. Older members of Generation Z are already joining the workforce and their expectations are different than even those of Millennials.

A recent survey revealed key insights into millennials. These are highlighted below.

 

550 millennials participated in the survey of which 94 were pursuing graduation, 211 were graduates, 234 were pursuing post-graduation, and 11 were postgraduates. Analysis of answers to questions posed in the survey revealed the top motivators among millennials for joining an organization were workplace flexibility, opportunity to participate in self-development courses, a good work-life balance, a boss who could be communicated with easily, and some non-monetary benefits.

Among respondents in the survey, 128 were less than 20 years old, 375 were between the ages of 21-25, and 44 were between 26-30 years old. When asked what kind of boss they wanted, only 1.7 per cent stated they wanted to work in an office where they had a boss, who also had a boss, who also had a boss whom respondents couldn’t even think of talking to. 13.8 per cent of respondents revealed they wanted to work in an organization where there were many bosses in the same position as their boss and each reported to a single boss. 61.7 per cent of respondents reported they wanted to work in an organization in which they reported to a person who could be called a boss, but he/she were also someone they could approach for anything and everything. 22.8 per cent of respondents wanted to work in an organization in which they were their boss and so was everyone else.

 

The survey revealed that among respondents, the top 2 factors that determined were they wanted to work were a flexible working environment and the opportunity to participate in self-development courses. Also revealed by the survey was that respondents presented with a well-defined career path and provided a suitable work-life balance were unlikely to leave an organization for at least 2 years. More than 60 per cent of respondents wanted to report to 1 easily approachable boss. Respondents revealed they would most like to work in an organization that had between 50-250 employees.

4.2 per cent of respondents would like to work in an organisation that had less than 10 employees. 28.7 per cent of respondents would prefer to work in an organization that had between 10-50 employees. 43.7 per cent of respondents would prefer to work in an organization that had between 50-250 employees. 23.4 per cent of employees would like to work in an organization that had more than 250 employees.

 

85 per cent of respondents revealed they started working because they wanted to be financially independent. Respondents revealed an average raise of 11 per cent -15 per cent or 16 per cent -20 per cent was necessary to prevent them from looking for a job elsewhere.

One per cent of respondents would not look for another job if given an annual raise between 0-5 per cent. 10.2 per cent of respondents would not look for another job if given an annual raise between 6 per cent -10 per cent. 28.1 per cent of respondents would not look for another job if given a raise between 11 per cent -15 per cent. 28.1 per cent of respondents would not look for another job if given a raise between 16 per cnet-20 per cent. 27.5 per cent of respondents would not look for another job if given a raise between 20 per cent-25 per cent while 5.1 per cent of respondents would not look for another job if given a raise of more than 26 per cent.

 

 More than 50 per cent of respondents said they would serve a notice period of 1 month, even if they left an organization on unfriendly terms. More than 50 per cent of respondents would choose to work overtime if they paid more than colleagues. 

Concerning autonomy at the workplace, the survey revealed respondents would be willing to work overtime if they were allowed to participate in decision making in the workplace. 54 per cent of respondents would be willing to work for 20 per cent less pay if they were given all the benefits they wanted.

The frequency of social and informal events at workplaces also influenced millennials. An organization that had a greater number of such events was likely to be viewed favourably by millennials. When choosing an employer, millennials also considered the number of holidays the employer provided, the workplace culture, the degree of openness in communication between workers and superiors, and training and development opportunities provided by an organisation.

 

The survey was conducted by Headsup Corporation.

Tags: workforce, organisation