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Staples Advantage: Millenials value flexibility and office perks, but also salary
By Brianna Crandall, October 5, 2015—Contrary to popular belief, Millennials have similar motivations pertaining to salary when compared to their older cohorts, according to the 2015 Workplace Index, a recent study of office workers in the United States and Canada, conducted by Staples Advantage, the business-to-business division of Staples. Almost one-third of Millennials (29%) report that higher salary is the biggest contributor to their loyalty, despite only 20% of the broader workforce reporting the same. The survey also revealed that such nontraditional benefits as flexibility and office perks are key to retaining to Millennials.
"Millennials are becoming the largest demographic in the U.S. workforce — about one-third of all workers — so it's critical for employers to understand how to attract and retain Millennial talent," said John Burke, senior vice president, chief culture officer, Staples, Inc. "Our Workplace Index found that contrary to popular belief, salary is important to Millennials, just as it is to older workers."Five unconventional ways to attract and retain Millennial talent
U.S. office workers as a whole consider title and work responsibilities (38%) and work-life balance (30%) as leading contributors to their loyalty. Millennials favor more nontraditional benefits in the workplace.
The majority of Millennials (70%) expect to be in a management position in the next five years, compared to 48% of the broader workforce. With more Millennials expected to rise to management positions in the coming years, the authors expect these nontraditional benefits to continue to become more prominent in U.S. workplaces.
Key considerations that drive Millennial productivity
Millennials seem to be less concerned with technology issues than the broader employee base. While 72% of all U.S. office workers say poorly performing technology decreases their productivity, only 56% of Millennials reported the same. In addition, 49% of Millennials say limited IT support will decrease productivity, compared to 62% of all U.S. office workers.
Millennials are also social media natives, and as such, it does not seem to negatively impact their productivity. In fact, many say the use of social networking sites/tools (28%) and apps that track to-do lists (42%) actually increase their productivity.
When asked how employers can help employees combat overwork and burnout, the majority of the broader employee base (54%) said employers should decrease their workload or provide more time to complete tasks, compared to only 42% of Millennials. This could be due to Millennials having grown up in the digital age where the always-on mentality has dominated, so their threshold for information overload is a bit higher, notes the report.
Staples Advantage Workplace Index methodology
The survey was conducted among 2,602 employees 18 or older across a variety of companies, both in size, geography and industry. A total of 1,528 employees were interviewed in the USA (1,026 were classified as general workers and 502 as business decision-makers), and a total of 1,074 employees were interviewed in Canada (744 general office workers and 330 decision-makers). The interviews were conducted online by Redshift Research in May 2015.