{"id":40249,"date":"2020-06-06T00:00:00","date_gmt":"2020-06-06T00:00:00","guid":{"rendered":"https:\/\/newrcblog.wpengine.com\/5-things-millennials-value-most-from-employers\/"},"modified":"2025-07-01T06:07:41","modified_gmt":"2025-07-01T13:07:41","slug":"5-things-millennials-value-most-from-employers","status":"publish","type":"post","link":"\/us\/en\/blog\/5-things-millennials-value-most-from-employers\/","title":{"rendered":"5 Things Millennials Value Most From Employers"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Daniel is a 30-year-old software developer based in Silicon Valley. In 2015, he joined a medical technologies company that offered him a significantly higher compensation package than his previous job, as well as a promotion to a higher title. It was an exciting moment for his career because back then, a higher salary meant more prestige and a better life. This was what he always wanted, right?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After a few months with the company, Daniel realized that the grass wasn\u2019t exactly greener on the other side. His new position offered little room for growth and upward mobility, and the company\u2019s leadership firmly clung onto the traditional, strict nine-to-six work schedule. After two years of unsuccessfully negotiating for more flexibility and time off, Daniel received an offer at a much larger company that offered flexibility as a perk. Despite the lateral move in position and pay, he gladly accepted the offer. Since 2017, he\u2019s been with the company and has no intention of leaving.<\/span><\/p>\n<div style=\"width: 360px;\" class=\"wp-video\"><video class=\"wp-video-shortcode\" id=\"video-40249-1\" width=\"360\" height=\"360\" preload=\"metadata\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/www.ringcentral.com\/us\/en\/blog\/wp-content\/uploads\/2020\/06\/5-things-millennials-value-most-from-employers.mp4?_=1\" \/><a href=\"https:\/\/www.ringcentral.com\/us\/en\/blog\/wp-content\/uploads\/2020\/06\/5-things-millennials-value-most-from-employers.mp4\">https:\/\/www.ringcentral.com\/us\/en\/blog\/wp-content\/uploads\/2020\/06\/5-things-millennials-value-most-from-employers.mp4<\/a><\/video><\/div>\n<p><span style=\"font-weight: 400;\">For Daniel, compensation was significantly less impactful than his employers thought it\u2019d be. That\u2019s because, like most Millennials, Daniel places value on work-life balance and career advancement\u2014both of which his former employer didn\u2019t offer. As a result, he didn\u2019t hesitate to jump ship as soon as another opportunity arose. Most of his fellow Millennials would do the same.<\/span><\/p>\n<h2><b>Finding their place<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">We\u2019ve all heard the claims that Millennials (born between 1981 and 1996) are chronic job-hoppers who bring little employer loyalty to their careers\u2014and in many ways, those claims are true. A Gallup <\/span><a href=\"https:\/\/www.gallup.com\/workplace\/231587\/millennials-job-hopping-generation.aspx#:~:text=A%20recent%20Gallup%20report%20on,U.S.%20economy%20%2430.5%20billion%20annually.\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\"> found that 50% of Millennials plan to join another company within the next year, and 21% said they changed jobs just within the past year. That\u2019s three times higher than non-Millennial workers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s easy to bash and shame an entire generation who seems more loyal to their phones than their work, but when we dig a little deeper, we find that Millennials (and Gen Zers) have significantly different work values compared to older generations. For example, baby boomers born into nine-to-five workplaces believe success at work and success at life are two separate entities.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For Millennials, the line between professional and personal life is blurred. In fact, <\/span><a href=\"https:\/\/www.theatlantic.com\/sponsored\/allstate\/attention-employers-millennials-have-made-their-demands\/219\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">91% of Millennials<\/span><\/a><span style=\"font-weight: 400;\"> believe success at work translates into success in life, versus just 71% of baby boomers.<\/span><\/p>\n<h2><b>Returning to work after COVID-19<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Millennials and Gen Zers were the hardest-hit generations in the COVID-19-induced economic downturn. According to a <\/span><a href=\"https:\/\/www.vox.com\/2020\/5\/5\/21222759\/covid-19-recession-millennials-coronavirus-economic-impact-charts\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">study<\/span><\/a><span style=\"font-weight: 400;\"> by Pew Research Center, 35% of workers between the ages of 18 and 29 lost their jobs amidst the pandemic, with 30% of workers between 30 to 49. What\u2019s more, 45% of those in the 18\u201329 range were forced to take a pay cut, and 39% in the 30\u201349 range also saw wage reductions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As restrictions around COVID-19 lockdowns loosen, it\u2019s likely that Millennial talent will be applying to open positions in droves (also see: <\/span><a href=\"https:\/\/www.ringcentral.com\/us\/en\/blog\/6-things-gen-zers-want-from-employers-as-they-enter-the-workforce\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">6 Things Gen Zers Want From Employers As They Enter the Workforce<\/span><\/a><span style=\"font-weight: 400;\">). If organizations want to attract, nurture, and retain the best Millennial candidates, they\u2019ll have to meet Millennial needs. Organizations that won\u2019t meet Millennial needs stand to lose top talent, leading to less innovation and poorer business outcomes. Organizations that are willing are poised to succeed in both recovery and long-term success.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What will Millennials re-entering the workforce expect from their future employers? Here are a few things to consider:<\/span><\/p>\n<h2><b>1. Millennials want purpose<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Millennials expect more than just a paycheck from their employers\u2014they want to work for organizations that have clearly-defined purposes. That doesn\u2019t necessarily mean their work must contribute to some altruistic, noble cause. Rather, Millennials strive to find meaning in the work they do. For example, the company Daniel works for builds cutting-edge graphics processors essential to self-driving cars, robot-assisted surgery, and many other sectors of robotics. The company touts its social responsibility in building safer roads, better healthcare outcomes, and moving humanity forward.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Employers with clearly-defined purposes get more engagement from Millennials and are positioned to reap the cultural and commercial benefits. According to a <\/span><a href=\"https:\/\/www.pwc.com\/us\/en\/about-us\/corporate-responsibility\/assets\/pwc-putting-purpose-to-work-purpose-survey-report.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\"> by PwC, employees who have a strong connection to their employer\u2019s purpose are 5.3 times more likely to stay, versus just 2.3 times for non-Millennials.<\/span><\/p>\n<h2><b>2. Millennials want coaching<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Millennials gave rise to new management styles that center around developing close relationships with their managers and colleagues. They expect managers to act as more than just taskmasters and decision-makers. They want managers to coach their performance and value them as employees, teammates, and people.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Coaching can involve frequent one-to-one feedback sessions, which Millennials <\/span><a href=\"https:\/\/hbr.org\/2015\/02\/millennials-want-to-be-coached-at-work\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">overwhelmingly prefer<\/span><\/a><span style=\"font-weight: 400;\">. Coaching can also mean developing close relationships with colleagues. A PGI <\/span><a href=\"https:\/\/www.businessinsider.com\/millennials-want-to-be-connected-to-their-coworkers-2013-6?IR=T\"><span style=\"font-weight: 400;\">study<\/span><\/a><span style=\"font-weight: 400;\"> found that 71% of Millennials see their coworkers as a \u201csecond family,\u201d turning workplaces into fun, social environments.<\/span><\/p>\n<h2><b>3. Millennials want flexibility<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Work-life balance is the quintessential Millennial demand, and they\u2019re willing to remain loyal to managers who offer it. A <\/span><a href=\"https:\/\/www2.deloitte.com\/content\/dam\/Deloitte\/global\/Documents\/About-Deloitte\/gx-2018-millennial-survey-report.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">survey<\/span><\/a><span style=\"font-weight: 400;\"> by Deloitte found that 50% of Millennials consider workplace flexibility \u201cvery important\u201d when they consider working for an organization (interestingly, only 44% of Gen Z felt the same). Organizations that can offer flexible work are rewarded with higher engagement and greater loyalty.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Modern technologies allow employees to easily communicate and collaborate from anywhere, and providing Millennials with those technologies is key to driving innovation. Tools like <\/span><a href=\"https:\/\/www.ringcentral.com\/desktop-app.html\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">unified communications<\/span><\/a><span style=\"font-weight: 400;\"> combine team messaging, video conferencing, and cloud phone into a single platform that employees can access from anywhere using any device. Whether they\u2019re working from home, on the road, or live in another country, they can collaborate with colleagues while enjoying work flexibility.<\/span><\/p>\n<h2><b>4. Millennials want growth opportunities<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Career development is a very important attribute for Millennials. A Gallup <\/span><a href=\"https:\/\/www.gallup.com\/workplace\/236438\/millennials-jobs-development-opportunities.aspx\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">survey<\/span><\/a><span style=\"font-weight: 400;\"> found that 59% of Millennials consider an employer\u2019s ability to nurture and develop their skills when applying for a job there. They don\u2019t want quarterly or annual reviews that many companies still practice. Instead, they want ongoing conversations that cultivate their skills as they work. And as they continue mastering those skills, they expect employers to trust them with greater work responsibilities.<\/span><\/p>\n<h2><b>5. Millennials want culture<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Not only do Millennials want purpose in their day-to-day work, but they also seek companies with an excellent culture. This could mean several things: companies that invest in employee learning opportunities, flexibility, <a href=\"https:\/\/www.ringcentral.com\/diversity-and-inclusion\" target=\"_blank\" rel=\"noreferrer noopener\">diversity and inclusion<\/a>, social responsibility, and personal growth. For example, many organizations today participate in programs like donation matching and community volunteerism, helping employees contribute to greater social causes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A great example is LinkedIn\u2019s \u201c<\/span><a href=\"https:\/\/blog.linkedin.com\/2015\/07\/29\/inday-investing-in-our-employees-so-they-can-invest-in-themselves\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">InDay<\/span><\/a><span style=\"font-weight: 400;\">\u201d initiative, where every employee gets one day a month to focus on themselves. This could mean taking a mental health day, volunteering, a team outing, and even a day dedicated to learning a new skill.<\/span><\/p>\n<h2><b>Preparing to attract and retain the best talent<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Today\u2019s highest-achieving organizations have mastered the employee experience, and it\u2019s paying off big time. Companies like Facebook, Google, Microsoft, and Amazon are famous for providing employees the best perks and opportunities in the job market. By attracting the best talent in the world, they\u2019re reaping the financial rewards. It\u2019s time all organizations followed suit to survive and thrive in the post-COVID-19 era.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Organizations can offer flexible work by equipping employees with the tools to succeed from anywhere. A <\/span><a href=\"https:\/\/newsroom.ibm.com\/2020-05-01-IBM-Study-COVID-19-Is-Significantly-Altering-U-S-Consumer-Behavior-and-Plans-Post-Crisis\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">survey<\/span><\/a><span style=\"font-weight: 400;\"> by IBM found that more than 75% of employees would like to work from home occasionally post-COVID-19. Many organizations are preparing to meet that demand too. A recent Gartner <\/span><a href=\"https:\/\/www.gartner.com\/en\/newsroom\/press-releases\/2020-04-03-gartner-cfo-surey-reveals-74-percent-of-organizations-to-shift-some-employees-to-remote-work-permanently2\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">survey<\/span><\/a><span style=\"font-weight: 400;\"> on 317 CFOs revealed that 74% of companies plan to permanently shift to more remote work post-COVID-19.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With higher demand for flexible work and an increasing supply of companies ready to meet their needs, organizations will be competing for talent as work slowly returns to normal. Make sure your organization is ready.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Daniel is a 30-year-old software developer based in Silicon Valley. In 2015, he joined a medical technologies company that offered him a significantly higher compensation package than his previous job, as well as a promotion to a higher title. It was an exciting moment for his career because back then, a higher salary meant more &#8230;<\/p>\n","protected":false},"author":29,"featured_media":40250,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18390],"tags":[8764,17786,17787,17788],"class_list":["post-40249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-communication-and-collaboration","tag-employee-experience","tag-millennial-flexible-work","tag-millennials-covid19","tag-what-millennials-expect-from-employers"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.3 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>5 Things Millennials Value Most From Employers | RingCentral Blog<\/title>\n<meta name=\"description\" content=\"Daniel is a 30-year-old software developer based in Silicon Valley. 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