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Employers ‘must do more’ to engage with Millennials

Global businesses have been encouraged to engage more with the attitudes of Millennials.

Friday 16 January 2015

Employers need to stay more closely in tune with the requirements of their workers and wider society, according to a major new survey of ‘Millennials’.

The Deloitte Global poll of full-time workers born after 1982 - so-called Millennials - indicates that firms need to look beyond profit targets to keep these people on board.

The fourth annual Millennial survey from the business advisory firm has revealed that while 73% of the global respondents, and 71% in the UK, feel companies positively impact society, many are concerned about the agendas of their firms.

Benefiting wider society

With Millennials from 29 different nations questioned, Deloitte Global said 75% of the worldwide respondents and 77% of those in Britain feel companies at times focus too heavily on their own agendas, instead of wider society.

While 61% of people globally believe that firms demonstrate strong social leadership, this figure falls to 48% among UK Millennials.

More than half (52%) of the people questioned across the world believe that companies tend to act ethically, but this drops to 39% in the UK.

‘Clear message sent’

Steve Almond, chairman of Deloitte Global, has encouraged businesses to wake up to the findings.

He said: “The survey sends a clear and strong message to business leaders that, to stay engaged with Millennials, they need to focus on their broader purpose and their people as much as they do on products and profits.”

Industry preferences

Among its other key findings, the report said the professional services sector is an attractive industry for 40% of the UK respondents.

The technology, media and telecommunications (TMT) sector is also attractive to 34% of the British Millennials who were polled.

These preferences are the other way around in global terms, however, with the TMT sector popular among 46% of workers, and 39% expressing a desire to work in professional services.

When it comes to the size of the business they would like to work for, 37% and 35% of UK and global respondents respectively said they are keen to secure employment with large-scale organisations.

Skill concerns

The survey indicates that Millennials do not have a very strong appetite with regards to setting up their own firms.

Only 11% of global respondents and 12% of those in the UK said they would be interested in setting up an enterprise of their own.

Elsewhere, UK Millennials raised concerns about skills provisions, with only 36% saying they believe that university equipped them with the right attributes to carry out their daily working duties.

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Copyright Press Association 2015

“The survey sends a clear and strong message to business leaders that, to stay engaged with Millennials, they need to focus on their broader purpose and their people as much as they do on products and profits.” 

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