Millennials have become the largest generation in America today, and they account for a large portion of the workforce. According to an article written by Richard Fry on generational populations in the US, there are approximately 75.4 million millennials, which is about half a million more than the baby boomer generation and about nine million more than generation X.
A major concern for employers today is how to attract and retain millennial employees. So what do millennials seek in a job and what factors of a job make them want to stay? Let’s begin with the most frequently cited factors millennials look for in a job.
Potential for growth
A common factor cited by millennials is the opportunity to grow, both personally and professionally, within their industry. Millennials want to know that there is potential for them to advance in a company and develop their skills. A study conducted by ProSky on 200 college students mirrors this point. They found that millennials don’t necessarily define growth in terms of promotions and higher pay. Instead, to them, growth can be as simple as an increase in autonomy or more responsibilities. Millennials are more likely to stay in a position if they feel like they are valued; not disposable “warm bodies,” and that there is a future for them within a company.