Work-Life Balance is as Important to Millennials as the Size of a Paycheck
A decent paycheck is always nice, but according to experts, today's younger workers want much more than that out of their employers.
Flexibility and a work-life balance are a must among millennial workers, also known as Generation Y, expected to make up 75 percent of the global workforce by 2025. They are generally classified as those born between the early 1980s and late 1990s.
"They don't want to go to an office and work 9 to 5 every day," said Dan Schawbel, founder of WorkplaceTrends.com. "They maybe want to work from home…or a coffee shop, and this is going to become more and more important as they have children."
According to Schawbel, millennials also crave an innovative workplace, a "fast-paced environment" and producing work that makes a positive impact on their team and the world.
Carl Van Horn, director of the John J. Heldrich Center for Workforce Development at Rutgers, said companies across the state and nation are adapting to the unique needs of millennials who have spent the past several years glued to technology.
"This is becoming more of an issue as employers are in competition for talented young people who expect these types of flexibilities," Van Horn said. "By the way, all of this is a good sign because it means that some leverage is moving back in the direction of workers."
In the latest NextGen survey from PwC, a professional services network, more than 70 percent of millennial employees said work demands interfere with their personal lives. Fifteen percent of males, and 21 percent of females, indicated they would give up some of their pay in exchange for working a fewer number of hours.