ROBERT WALTERS WHITEPAPER

ATTRACTING AND RETAINING MILLENNIAL
PROFESSIONALSINTRODUCTIONATTRACTING AND RETAININGMILLENNIAL PROFESSIONALS
Children born in the 80s and 90s, the Millennials are today’s 20 to early-30-somethings,
poised to make up the majority of the workforce by 2025, and already an important part of
the working population.
Millennials (also known as ‘Generation Y’) are the first generation of ‘digital natives’ – techsavvy and connected, rarely without a mobile phone or tablet. They have more formal
education than any generation in history, and have mastered multitasking through early
exposure to a wide range of media.
Aside from Millennials (born 1980-1999) the current workforce also includes Generation X(born 1960-1979) and the Baby Boomers (born 1940-1959). Differing attitudes, priorities
and habits between these groups are a potential source of conflict but also present
exciting opportunities to make the most of the broad range of skills and experienceavailable in such a diverse workforce.
Understanding what motivates Millennials, as well as how they perceive their employers
and their colleagues, is essential to attracting them to your organisation and ensuring thatyou can maximise their effectiveness as employees and potential leaders.

METHODOLOGY
Robert Walters surveyed 302 hiring managers and 228 professionals as well as consulting
our recruitment industry experts to complete this research.

CONTENTS
05 How to attract Millennial professionals
06 What matters most to Millennials when starting a new job?
07 What does it take to retain Millennial professionals?
08 What motivates Millennials to change jobs?
11 Differences between generations in the workplace
12 How to develop Millennials into future business leaders
15	Sources of intergenerational conflict in the workforce
16	What role does technology play in attracting and retaining Millennial
professionals?
17 Key findings

02 ATTRACTING AND RETAINING MILLENNIAL PROFESSIONALSOVERVIEW

91%

of Millennials want
rapid career progression

52%
WOULD LIKE TO GROW THEIRCAREER ABROAD

71%

40%

of Millennials strongly believe theiremployer should provide clear guidelines
for earning bonuses and promotions

40% of employers do notprovide clear guidelines for earning
bonuses and promotions

What keeps Millennials engaged at work?

69%

CAREER PROGRESSION54%

OPPORTUNITY TO EXERCISE INFLUENCE

32%

RECOGNITION OF INDIVIDUAL ACHIEVEMENTS

28%

PERSONALISED TRAINING

Biggest sources of intergenerational conflict in the workplace

67%

MILLENNIALSTECHNOLOGY (67%)

Should employers
always adopt thelatest technologies,
even if the cost is
high?

44

24

%

69

%

GENERATION XTECHNOLOGY (44%)%?

BOOMERSCHANGING WORKPLACECULTURE (24%)

42%
YES

9%
YES

MILLENNIALSEMPLOYERS

Top three reasons Millennials change jobs

59%

of workers haveexperienced
intergenerational
conflict in the workplace

EMPLOYERS
DEMAND FOR RAPID CAREERPROGRESSION (69%)

53%

of Millennials would be more
likely to accept a job if theemployer used the same
technologies they do

Should employers actively encourage social media at work?

38%

25% 25% 20%
BIGGER SALARY
OR BONUS

MORE
FULFILLING JOBBETTER CAREERDEVELOPMENTOPPORTUNITIES36%OF MILLENNIALS SAY ‘NO’

OF MILLENNIALS SAY ‘YES’

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04 ATTRACTING AND RETAINING MILLENNIAL PROFESSIONALSHOW TO ATTRACT MILLENNIAL PROFESSIONALS
Millennials are confident and openly ambitious and this is reflected in what they prioritise when seeking a new role.
A clear path for career progression, competitive salary and technology are the key drivers for attracting professionals of
this generation.

A CLEAR PATH FOR CAREER PROGRESSION
91% of Millennials consider the opportunity for rapid career progression one of themost important things about their job. To attract Millennial professionals employers
need to ensure that they have strategies and policies in place to facilitate career
progression for employees, and that they communicate this to potential employees
during the recruitment process.

91%

of Millennials want
rapid career progression

ENSURE YOUR REMUNERATION STRATEGY IS IN LINE WITHMILLENNIAL EXPECTATIONS
A competitive salary is important for all generations, but particularly for ambitious
Millennials, where salary reflects their status and success. 96% rate a competitive
pay and bonus system as important, and 25% rank salary as the number one reason
they would change jobs.
During the downturn, 53% of Millennials took a job with a lower salary than expected, so employers should be mindfulthat this may be a contributing factor as to why salary and remuneration are so important to Millennials. It also means that
as we move out of economic uncertainty they will expect their salaries to catch up to their expectations.

EMBRACE TECHNOLOGY AND INVEST IN THE LATEST SYSTEMS
53% of Millennials say that they are more likely to take a job with an employer who uses the same technology as theydo. Ensuring that you remain open to integrating popular technologies and platforms into your business can give you
a powerful edge over competitors in attracting Millennials.

Sam Walters
Director at Robert Walters“Millennial workers feel more at home in a digital workplace than any generation that has come before
them. They are used to adapting to new technologies and expect their employer to do the same.
When weighing up the cost and benefits of any new systems for their business, employers should
remember the potential that such an investment has to attract Millennial professionals.”Should employers always adopt the latest technologies, even if the cost is high?

42%
YES

9%
YES

MILLENNIALSEMPLOYERS

www.robertwalters.com 05

WHAT MATTERS MOST TO MILLENNIALS WHEN STARTING
A NEW JOB?
When Millennials start a new job, the things that attracted them in the first place need to become a reality. Gaining
valuable experience from the start and knowing that their employer places as much importance on their career progressas they do is essential.

BUILDING THEIR CAREER

53%

43% of Millennials felt shadowing experienced members of staff to see how thebusiness works first hand was the most important part of their induction, andsupports their desire to progress their career.

of Millennials have been
disappointed by a lack ofpersonal development or
training in a new job

It is also important to get training and development plans in place early, and ensure
they are satisfactory for your Millennial professionals. 53% have been disappointed
by the lack of a properly implemented personal development plan or training
program when starting a new job.

POSITIVE WORKPLACE CULTURE
Creating an inclusive, social workplace culture from the start is incredibly important. A third of Millennials felt that meeting
their colleagues in a social setting was the most important part of their workplace induction – a marked difference to older
generations where just 15% of Generation X felt that a social outing was the most important aspect of their induction, andfor Boomers, the figure was less than 1%.
Over half of Millennials reported that poor company culture was a source of disappointment in a new job.

Percentage of professionals that believe meeting colleagues in a social settingis the most important part of their workplace induction

<1%

15%

30%

BABY BOOMERSGENERATION XMILLENNIALS

Chris PooleManaging Director at Robert Walters“Businesses that neglect the social aspects of their culture risk alienating Millennial
employees. For more traditional businesses this may be particularly challenging,but embracing small changes can serve to show Millennial workers that managers
are receptive to new ideas.”

06 ATTRACTING AND RETAINING MILLENNIAL PROFESSIONALSWHAT DOES IT TAKE TO RETAIN MILLENNIAL
PROFESSIONALS?
To retain Millennial professionals employers need to ensure their employees are engaged and satisfied at work. They
need to show commitment to helping their staff grow and develop, providing structured training and opportunities thatallow Millennial workers to achieve their career goals.

CAREER PROGRESSION IS KEY
Millennials want more than just a job – they want a career, with 69% citing a clear path for progression in the businessas the most important factor in keeping them engaged.
It is perhaps unsurprising that for Millennials at the outset of their careers, a clear path to progression is the mosteffective motivator. However, this reflects not just the youth but also the ambition of this generation. Millennials havegrown up being told they are capable of achieving anything and this confidence means that they crave responsibility
early in their careers.

Richard Boyd
Director at Robert Walters“Millennial workers have much in common with their older colleagues in terms of how they are
motivated and what engages them at work. However, employers risk disconnecting with their
Millennial workers if they fail to acknowledge the importance Millennials place on career progression.”PERSONALISED TRAINING
Only 15% of employers believe personalised training programs are a priority for engaging employees, despite the fact thatnearly a third of Millennials rank them as one of the most important ways to keep employees engaged.

REGULAR FORMAL FEEDBACK AND RECOGNITION OF ACCOMPLISHMENTS
38% of Millennials report that they only receive formal feedback from their manager once a year, despite the fact that 91%
would prefer to receive formal feedback at least every six months, with 60% stating that they would like to receive formal
feedback or appraisals every one to three months.
Ambitious Millennials like to know that their hard work is recognised publicly as well. 32% of Millennials rate formal
recognition of individual achievements (such as an employee of the month program) as one of the most importantways to keep them engaged.

What keeps Millennials engaged at work?
CAREER
PROGRESSION69%

OPPORTUNITY TO
EXERCISE INFLUENCE
RECOGNITION OF
INDIVIDUAL ACHIEVEMENTSPERSONALISEDTRAINING

54%
32%
28%

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WHAT MOTIVATES MILLENNIALS TO CHANGE JOBS?
Whether trying to attract new Millennial professionals or to retain existing staff, employers should be aware of what
motivates Millennial employees to change jobs. A higher salary (25%) and a more fulfilling role (25%) are the two mostimportant factors when Millennials are considering a new role.

A HIGHER SALARY
Despite the importance they place on a sociable workplace, Millennial
professionals are still highly motivated by generous salaries or bonus
schemes. Employers must be aware of this and should be cautious ofviewing Millennials as a cheaper alternative to more experienced employees,
as it is likely that doing so will leave them struggling to recruit the best
Millennial talent.

A MORE FULFILLING JOBTOP THREE REASONSMILLENNIALS CHANGE JOBS

25%
BIGGER SALARY
OR BONUS

During the recession many Millennials struggled to find jobs that met their
expectations. 31% reported that they had taken work in a sector that they did
not wish to work in. Now, as the economic outlook improves, many are readyto change jobs to find a new role that better suits their ambitions.
Employers looking to retain Millennial employees should consider giving themthe option to move around the business to find a position that better suits
their desired career path, particularly given that 70% of Millennials consider job
rotation within the business one of the most important aspects of their job.

25%
MORE
FULFILLING JOB

WORK-LIFE BALANCE LESS IMPORTANT
Of all the groups surveyed, Millennials placed the lowest importance on
improved work-life balance when considering a new job (15%) compared toother generations. For Millennials, work-life balance is a lower priority thansalary, a fulfilling job and good opportunities for career development when
considering a new role.
However, this does not mean that Millennials do not value work-life balance.
On the contrary, 90% of Millennials surveyed regard policies that encourage agood work-life balance as one of the best things about their job. While goodwork-life balance is important to ensure job satisfaction among Millennials
once they are employed, it is not an effective strategy to recruit them.

20%
BETTER CAREERDEVELOPMENTOPPORTUNITIESPRACTICAL EXPERIENCE OVER MORE EDUCATION
The lowest priority for Millennials was the chance to earn qualifications on the job. Having the most formal education of
any generation in history, being likely to hold at least a bachelors degree already, Millennials are more attracted to theopportunity to gain practical work experience over additional qualifications.

Habiba Khatoon
Associate Director at Robert Walters“Having had to compromise on salary expectations during the recession, the offer of a more generous
compensation package can be an effective motivator for Millennials considering a new role. If
employers want to attract and retain Millennial employees then ensuring that they offer competitivecompensation must be a priority.”

08 ATTRACTING AND RETAINING MILLENNIAL PROFESSIONALS

31%

of Millennials have taken
work in a sector they did
not wish to work in

25%
of Millennials would be
most likely to change
jobs to find a more
fulfilling rolewww.robertwalters.com 09

59%

of Millennials thinkpersonality and cultural
fit is most important toemployers

60%of Millennials want formal
feedback at least every
one to three months

10 ATTRACTING AND RETAINING MILLENNIAL PROFESSIONALS IFFERENCES BETWEEN GENERATIONS IN
D
THE WORKPLACE
Millennials have much in common with their older colleagues but there are still
important differences in the kind of workplace they want and the value they placeon traits in colleagues.
Millennials favour a more relaxed working environment where technology isseamlessly integrated into their working practices. They place a higher value on
personality, communication skills and fit within a team than they do on hard technicalskills; potentially a source of disconnection between them and their employers.

VALUE OF TECHNICAL SKILLSWhen asked what they believed employers value most in potential workers, 59% ofMillennials gave personality fit with the team or company culture as a top priority –the same answer given by employers themselves.

75%

of Millennials want
an engaging and fun
workplace with ‘work
perks’ like free food andsocial events

However, Millennials underestimated the importance employers place on hard technical skills, with just 31% considering
this a priority. In contrast, 53% of employers felt that hard technical skills were highly important in potential employees.

A SOCIAL WORKPLACE
Millennials may have very different expectations of a working environment than their older colleagues. 30% felt thatmeeting their colleagues in a social setting was the most important part of their workplace induction, compared to lessthan 1% of Boomers.
75% of Millennials considered an engaging and fun workplace, including work perks like free food and social events,
important or very important, compared to just 58% of Generation X and 45% for Baby Boomers.

TECHNOLOGY
Millennial professionals are also distinct from their older colleagues in their attitudes to technology and social media. 38%
of Millennials felt that employers should actively encourage workers to incorporate social media into their work, compared
to 24% of Generation X and just 10% of Baby Boomers.

James Murray
Director at Robert Walters“When investing in new systems employers should consider the secondary benefits up-to-datetechnology can have in terms of helping to attract Millennial professionals, not only their direct
benefit to the business. An employer who is committed to maintaining an up-to-date level oftechnology can be very appealing to Millennial workers.”

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HOW TO DEVELOP MILLENNIALS INTO FUTURE
BUSINESS LEADERSAs Boomers approach retirement age, upward mobility within the workforce
means that many Millennials are already taking on management roles. Taking
these managers and developing them into the senior business leaders of the
future will mean making the most of the traits and talents of the Millennial
generation.

TRANSPARENT PATHS OF PROGRESSION
Millennials do not shy away from responsibility, and they want to know whatneeds to be done to earn it. Of all generations surveyed, they placed the highest
value on transparency over how they could achieve progress in their career. Every
Millennial surveyed agreed or strongly agreed that their employer should provide
clear guidelines over earning bonuses or promotions. However, 40% of
employers do not do this.

71%

40%

of Millennials strongly believe theiremployer should provide clear guidelines
for earning bonuses and promotions

40% of employers do not provide
clear guidelines for earning
bonuses and promotions

52%

of Millennials consider
international career
opportunities important
to developing theircareerDespite a reputation for disloyalty, when surveyed it was Millennials who anticipated having the smallest number of
employers over the course of their careers. 41% believed that they would have five employers or less before retirement,
compared to just 23% of Generation X and 29% of Boomers. Assuming a career lasting around 45 years this suggeststhat many Millennials are prepared to spend as much as 10 years with a single employer. With this in mind, investing in
training and development of Millennial staff has the potential to yield significant rewards.

INTERNATIONAL CAREER OPPORTUNITIESOne of the side effects of growing up in the digital age is that Millennials often see themselves as ‘citizens of the world’,having grown up in an environment where access to the internet meant that geographical boundaries were far lessimportant than they had been in the past. 52% of Millennials said that the opportunity to develop their career abroad wasimportant to them compared to just 31% of Generation X and 15% of Boomers. Employers can embrace this enthusiasm
by ensuring Millennial employees gain international experience of the business, giving them the breadth of experience
necessary for future roles in senior leadership.

Phill Westcott
Director at Robert Walters“If effectively managed, the desire among Millennials for rapid career progress can be used to turnsuch employees into well rounded and enthusiastic leaders. Their eagerness for career development
abroad gives employers an unprecedented opportunity to cultivate a new generation of managers withinternational experience.”

12 ATTRACTING AND RETAINING MILLENNIAL PROFESSIONALS

www.robertwalters.com 13

59%
of workers haveexperienced
intergenerational
conflict in theworkplace

14 ATTRACTING AND RETAINING MILLENNIAL PROFESSIONALSSOURCES OF INTERGENERATIONAL CONFLICTIN THE WORKPLACEAs Millennials make up a growing part of the workforce, finding a way for members of different generations to work
together effectively is an increasingly high priority. Making sure that managers understand what motivates workers fromdifferent generations, how they like to communicate and identifying common sources of conflict is essential to creating astrong team of varied generations.

Janine Balcksley
Associate Director at Robert Walters“Millennial professionals are typically well educated and confident, but it is important to be clear ontimelines and criterion including behavioural competencies for promotion, as they can be unrealistic in
their ambitions as to the speed with which they can climb the corporate ladder”

TECHNOLOGY
Millennials widely perceive technology to be at the root of workplace conflicts. 34% reported that older workers notunderstanding new technology was the chief cause of these conflicts, followed by younger workers becoming frustrated
at using outdated technology (33%).

EARLY AMBITION
For Boomer and Generation X respondents however, younger workers demanding rapid career progression was a moresignificant cause of conflict. 34% of Generation X respondents and 24% of Boomer respondents felt demand for rapid
career progression by younger generations was the leading cause of intergenerational conflict at work.
Among employers, this sentiment was even more firmly held, with 69% of employers placing a demand for rapid career
progression by young workers as the leading cause of conflict between generations.
However, Millennials themselves acknowledge that ambition and desire for rapid career progression by young workers
was the cause of much conflict at work, with 24% of those surveyed regarding it as a leading cause.
Employers and workers of all generations agreed that different expectations of workplace culture, particularly younger
workers wanting a less formal environment, was also a significant factor. Encouragingly however, few respondents fromany group felt that older workers were unable or unwilling to engage with younger workers, with Millennials themselves
actually being the least likely (10%) to regard this as a source of conflict.

Biggest sources of intergenerational conflict in the workplace

67%
MILLENNIALSTECHNOLOGY (67%)

44%

24%

GENERATION XTECHNOLOGY (44%)

BOOMERSCHANGING WORKPLACECULTURE (24%)?

69%
EMPLOYERS
DEMAND FOR RAPID CAREERPROGRESSION (69%)

www.robertwalters.com 15 HAT ROLE DOES TECHNOLOGY PLAY IN ATTRACTINGW
AND RETAINING MILLENNIAL PROFESSIONALS?
As the first people to have grown up in a digital world, Millennials are widely
regarded as the most technologically adept generation in the workplace.
They are proficient at using technology and enthusiastic about making it a growing
part of their professional lives. With 53% saying that they would be more likely to
accept a job if the employer used the same technologies that they do, businesses
can use this to attract Millennial professionals. Ensuring that you remain open to
integrating popular technologies and platforms into your business can give you apowerful edge over competitors in attracting these professionals.

53%

of Millennials would be more
likely to accept a job if theemployer used the same
technologies they doMillennials were also by far the most enthusiastic about employers adopting
new technologies despite high costs. 42% of Millennials felt that this was agood strategy, reflecting the fact that as a generation that has grown up aroundconstantly evolving technology, staying up-to-date is a priority for them personally,
and they believe their employer should do the same.
Millennials show the most enthusiasm for an increasingly digital workplace as well, with 38% believing employers should
actively encourage staff to incorporate social media into their work. However, it is worth noting that this is an issue thatpolarises opinion, with 36% of Millennials feeling that employers should not pursue such a policy.

Should employers actively encourage social media at work?

38%
36%
OF MILLENNIALS SAY ‘NO’

OF MILLENNIALS SAY ‘YES’

Marcus Blackburn
Associate Director at Robert Walters“Millennials are by far the most active users of social media, but they aren’t unanimous in wanting toincorporate it into their professional lives. For many of them, social media is a platform they reserve
for their personal lives and compelling them to use these platforms for work should be done withcaution.”

16 ATTRACTING AND RETAINING MILLENNIAL PROFESSIONALSATTRACTING AND RETAINING MILLENNIAL PROFESSIONALSKEY FINDINGSATTRACTING TALENTDEVELOPING FUTURE LEADERS

Attracting the best Millennial professionals starts with
understanding what motivates them. A competitive
salary, a clear path for career progression and amodern workplace that embraces new developments
in technology are all high priorities for Millennials whensearching for a new role.

Millennials are more open to international transfers as partof their career development than any generation that hascome before them. This gives employers an unprecedented
opportunity to equip a new generation of managers withexperience of their business on a global level.

Making your company’s career progression policies
clear when advertising a job and during the interview
process is an effective strategy to secure the best
Millennial talent.

FIRST IMPRESSIONS
Millennials are ambitious but they also place highimportance on a sociable workplace. Giving Millennial
professionals a chance to meet their new colleagues ina social setting as part of their induction is an effective
way to integrate them as part of your team.

RETENTION
To retain Millennial professionals, employers mustshow an ongoing commitment to their careers.
Providing formal feedback at least every six months
shows Millennial employees that their performanceand development is a priority and prevents them fromlooking to other employers who can meet this need.

CHANGING JOBS
Millennial employees are just as likely to consider a newrole that offers a higher salary as they are to take a more
fulfilling job. Many Millennial professionals were forced
to take work outside of their desired sector due to therecession and as the economy has recovered, they are
ready to pursue their original ambitions.

The offer of an international transfer is potentially apowerful motivational tool for Millennials and an opportunity
for employers to retain managers with a wide overview of
how the business operates.

GENERATIONAL DIFFERENCES
Millennials regard technology as being a key factor inconflict between different generations at work. This cantake the form of young employees frustrated by outdated
systems or older workers struggling to adapt to newtechnology.
In either case, ensuring that adequate training is provided
to all staff to ensure that they can use all systems to theirmaximum effect is a key strategy to prevent these conflicts
from impacting productivity.

THE ROLE OF TECHNOLOGY
Millennials are enthusiastic about working for employers
who embrace up-to-date technology. Millennials havegrown up adapting to new technology throughout theirlives and relate well to employers who do the same.
While investing in expensive new systems simply to
attract Millennial professionals may be impractical, whenemployers do invest in new technology for other reasons, itis well worth promoting these investments when looking torecruit Millennial professionals.

If possible, giving Millennials the opportunity to movearound different functions within the business canhelp to retain employees who would otherwise moveelsewhere.

www.robertwalters.com 17

ABOUT THE ROBERT WALTERS INSIGHT SERIESThis whitepaper is the sixth in the Robert Walters Insight Series. The Insight Series is a range of thought-leading
whitepapers aimed at assisting employers in their recruitment strategies and helping them address key talentmanagement issues. To register your interest in future topics, please email contact@robertwalters.com

18 ATTRACTING AND RETAINING MILLENNIAL PROFESSIONALSCONTACT US
To discuss this whitepaper, request other titles in the Insight Series or talk about your recruitment needs in moredetail, please contact your Robert Walters recruitment consultant, email us at contact@robertwalters.com or get intouch with one of our offices below:

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