EdAssist – Millennials

The Millennial Generation and
How it’s Shaking Up the Workplace
Mark Ward lVice President and General Manager l EdAssist
Jay Titus l Senior Director, Academic Services l EdAssist

Millennials in theWorkforce
© 2015 Bright Horizons Family Solutions LLC
66%
34%
2014
Other Generations Millennials
54%
46%
2020

Our Strategy

The Evolution

Commitment to Research

EdAssist 2015 Millennials Survey
 1,048 Nationally Representative
Americans
 Ages 18-35
 Margin of Error: +/- 3 percent
 Conducted Feb 10-17, 2015 by
Kelton Research using email
invitation and online survey

The Evolution of Millennial
Research
1. Loyalty
2. Entitlement
3. Benefits
4. Education

1. LOYALTY

What percentage of Millennials
believe that to advance professionally,
they need to job hop?
A. 100% B. 85% C. 50% D. 15%
The Millennial Mindset

Millennials are Not Loyal to
Employers
“Millennials are thought to be a generation who are more apt to move
from one opportunity to the next, and employers are having a hard
time retaining these workers.”
– September 17, 2012, Business Insider

Though they’re eager
to climb the
corporate ladder,
Millennials don’t
equate job hopping
with success.

Job Hopping ≠ Success

Millennials PledgeTheir Allegiance…
to the Right Employers
 70% believe their careers
would benefit more if they
stayed at one company
 80% say it would help them
make more money
 51% say they would stay at
their current jobs for 4 years
or more

Millennials PledgeTheir Allegiance…
to the Right Employers
It’s not that Millennials
want to job hop, it’s
that they’re often
forced to job hop
because employers
are not meeting
their needs.

2. ENTITLEMENT

What percentage of Millennials feel that they can
reach the highest level possible in their careers
on their own merits alone
(without being handed something)?
A. 100% B. 80% C. 50% D. 20%

“71% of American adults
think of 18-to-29-year-olds
— millennials, basically —
as “selfish,” and 65% of us
think of them as “entitled.”
-TIME Magazine (May 2013)

Millennials
are willing to
work and
pay their
dues.

Millennials areWilling toWork
What do they want?
 47% clear path for advancement
51% 41%
 Women prioritize clear career path
more than men

What benefit or perk is the top
priority for Millennials?
A. Retirement Savings Plan B. Company Equity
C. Phone Reimbursement D. Commuter Benefits

Millennials have a different set of values
than other generations regarding benefits:
Millennials value “perks” over “benefits”
Millennials:
bus passes, paid
overtime, and pet
healthcare plans
-Payscale.com 2014
Generation X:
100% work from home, paid
internet access at home, and
paid sabbaticals
Boomers:
defined benefit retirement
plans, private medical
insurance, and company car

Already focused on
saving for retirement,
Millennials may be
more responsible
than we think.

Financial Security Important to
Millennials
 Millennials care about
retirement savings: 71% place
401k plans at top of list
 Millennials are not as interested
in “perks”
 Saving for retirement is more
acute for women

4. EDUCATION

What percentage of Millennials would pick a job
with strong potential for professional development
over one with regular pay raises?
A. 75% B. 25% C: 60% D: 5%

“Millennials believe that work-life balance
drives their career choices”
-U.S. Chamber Foundation 2012

Today’s Millennials
want to keep learning
long after getting a
college degree.

Education andTraining
Feel
employers
are invested
in their
development

What isWorking?
 How will your organization respond to the demographic shift
to Millennials in the workforce?
 Are there tangible changes to the business environment or
culture as a result of this shift?
 How does Benefit, Learning and Development, and Human
Resources respond to new demands (i.e. assistance with
debt)of this group?

Takeaways
1. Already focused on saving for retirement, Millennials may be more responsible than
we think.
2. Though they’re eager to climb the corporate ladder, Millennials don’t equate job-
hopping with success.
3. The next generation of workers isn’t that entitled – they intend to pay their dues
for the achievements they seek.
4. Today’s Millennials want to keep learning long after getting a college degree,
particularly younger members of this generation who may not have received all the
training they need.
5. Lack of employer support, along with scheduling and financial roadblocks, could
hinder Millennials from reaching their full potential.
6. Employers today aren’t doing enough to meet Millennials’ needs.

Coming Up!
Thursday, April 16, 2015
7:30-8:30 a.m. Eggs & Innovation Breakfast Roundtable
10:30-11:20 p.m. Learning Lab #3: Non-Degree Programs:
Heroes orVillains?
11:30-12:20 p.m. Learning Lab #4:Tuition Assistance Think Tank
Unleashing the “M” Factor:
New Research on What Millennials Want atWork
Tuesday, May 5, 2015 at 12:00pm

EdAssist – Millennials

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