At the risk of exceeding our quota for stories about millennials (both our Jan./Feb. and upcoming April issues explore different aspects of this workforce demographic), here’s some new research coming out of IBM yesterday that’s worth a closer look.
Not surprisingly, the study titled “Myths, Exaggerations and Uncomfortable Truths” identified the difference between millennials and older employers when it comes to things like digital proficiency. But on issues such as career goals, employee engagement, preferred leadership styles and recognition, the study shows that Gen Yers share many of the same attitudes as their Gen X and baby boomer counterparts.
More precisely, the IBM research took aim at the following five myths:
Myth 1: Millennials’ career goals and expectations are different from their elders (i.e., unrealistic).
Rather, millennials want financial security and a diverse workplace just as much as their older colleagues.
Myth 2: Millennials need endless praise and think everyone should get a trophy.
For Gen Yers, the idea of a perfect boss isn’t someone who pats them on the back, but someone who is ethical and fair, and shares information. Thirty-five percent of boomers and millennials listed this as the top quality they seek in a boss. (Someone who asks for their input is last on their list of priorities.)
Myth 3: Millennials are digital addicts with no boundaries between work and play.
Not really. The research reveals that they are less likely than older generations to use their personal social-media accounts for business purposes. Twenty-seven percent of millennials said they never do so—compared to only 7 percent of baby boomers.
Myth 4: Millennials can’t make a decision without crowdsourcing.
Millennials value others’ input, but the research suggests they are no more likely to seek advice when making work decisions than Gen Xers. (Even though they think gaining consensus is important, more than 50 percent of Gen Yers believe that their leaders are most qualified to make business decisions.)
Myth 5: Millennials are more likely to jump ship if a job doesn’t fulfill their passions.
The IBM research suggests that millennials change jobs for the same reasons other generations do and are no more likely than older colleagues to leave a job to follow their passions. In fact, millennials, Gen Xers and baby boomers are all two times more likely to leave a job to enter the “fast lane”—i.e., to make more money and work in a more innovative environment—than for any other reason, including saving the world.
In light of these findings, IBM’s advice to employers is to stop relying on generational stereotypes when planning and serving their workforce. Instead, they should be pursuing more robust, nuanced talent strategies and analytics to better understand employees as individuals to make the most of their skills.
Considering the source, it’s no surprise IBM might offer up such advice. But that said, there’s no denying that placing entire generations in single buckets is never a good practice and treading carefully as you formulate strategies like this usually is a sound idea. (As most of us know only too well, there’s often another study lurking just around the corner that could turn the latest one on its head.)Twitter It!