The Love Story of Millennials and Start-Ups.
By: Anurag Nair
Tags: Startup, Success, Corporate Culture, Work Life Balance, Millennials

Image Courtesy: Helena Lopes

Why the New Generation is preferring to work in Start-ups more than Corporate giants?

The usual answer to the question above is that everyone wants to be that hoodie-wearing, coffee-sipping guys who work in tiny groups. But that’s just one of the motives for millennials to work at startups and there are a plethora of other reasons Startups have become a more popular place to work rather than a big corporation.

1. The Passion.

Millennials are extremely passionate about what they do. They are not a generation who work just for the money or other perks. As a generation who grew soaking up popular culture, they are heavily inspired by stories of Steve Jobs, Elon Musk and others. They do not just want to work but make a difference.

They prefer to stay in the start-up as long it satisfies their quench for learning even when they are underpaid or the company is not doing well in terms of revenue. Startups offer more knowledge and experience than a Corporate setup because in a startup usually, one person is doing a job which is usually done by multiple men and women in bigger companies. In the long run, Startup will make a person good at their job more than a company could, a smartass jack of all trades.

2. The Desire to Start a company on their Own.

This is one of the major motivations. As I pointed out earlier People work in startups to learn how everything works in a start-up, what are the challenges and sacrifices involved? what are the things at stake? Startups give them experience and mental space to think it through.

3. Flexibility and Recognition.

In Start-ups you have the freedom to try what you want and if your work is good it will be very easily recognised than it will in a big company. And you can climb up the ladder in a relatively short span if you keep performing well.

In a corporate environment, this isn’t possible. Most corporate follows a seniority structure which means the rise would be slow compared to a successful Startup. Some people think the millennials are taking the easy way out by doing this.

But on the contrary, the startup world is also very competitive than you think but the common threat of failure bonds the team members together. While the large companies often experience harsh infighting and office politics, in a startup scenario it is easier to communicate and agree on a vision for the product or service.

In most Startups, founders hand-pick the employees and develop a relationship with each them. Because of this, Startup CEOs are seen as much more approachable than large company leaders, who are often unreachable by low-level employees. The founders treat their employees as friends (In most cases are Friends). Which also helps in preventing any office politics.

4. The Work-Life Balance.

For the new generation work-life balance was the most important factor they considered (outside of financial benefits) when they are evaluating a job opportunity. Millennials have reshaped the definition of success. No longer is a flashy, lucrative career the hallmark of true achievements.

This generation values true balance they don’t just want a big paycheck, they also want their jobs to be efficient in every way, a family and time to pursue their hobbies. And these aren’t empty demands millennials want it all and know that they can have it all, with the help of modern technology.

There is a common misconception that millennials are disloyal to their companies. The idea that this generation is constantly on the hunt for a better-paying position or an easier job is not only unfair but untrue.

This generation’s interest in creating a functional, happy work environment which is productive and is actually an indication of their loyalty. Millennials want to create a positive work scenario where they can thrive and remain loyal to the organization.

They understand the practicality of using technology to work remotely. And the preference for remote work options is not just a self-interested one. They understand that offering flexibility and remote work options is a positive move for the company, too. This generation is not asking employers to make a huge sacrifice and put a damaging work technique into place. It’s repeatedly been shown that work flexibility not only increases employee satisfaction, but it also increases productivity. A win-win situation for both.