Each generation gets poked and prodded like a lab animal by the generation above. While Hippies were called lazy pinkos by their Leave-It-to-Beaver parents, Millennials are labeled as overprotected, participant-trophy-getting narcissists by those same, now-aged Hippies.
It turns out the two generations have more in common than either group would have thought. According to the Deloitte Millennial Survey, Millennials (anyone born after 1982) are strongly driven by their values and ethics. Although the study failed to identify what, exactly, those values and ethics are, 44 percent of Millennials have turned down a job offer because the company's values did not match their own. Nearly half, 49 percent, said they have rejected assignments at work because of conflicts with their ethics, and 56 percent have sworn to never work for specific companies because of the organizations' values.
Deloitte, which interviewed 7,700 Millennials from 29 countries, found that 40 percent of Millennials who plan to remain with their current employer also say their employer has "a strong sense of purpose beyond financial success," the report states. Of the study total, 87 percent of Millennials think a company's success should not be measured purely by its financial performance and should include a larger purpose.
Fortunately, the study also found that seven in 10 say their personal values are shared by their employer.
But, employers, you're not entirely off the hook. Deloitte found that 63 percent of Millennials say their leadership skills are not being fully developed by their company management.
So, what's the takeaway? If you are worried about retaining your Millennial work force, create or expand your career development initiatives, and espouse a company mission that goes beyond making a profit.