Idea Transcript
How We’re Different
Product Demo
Blog
REQUEST INFO
– ACCESS PERKS BLOG –
Millennial Employee Engagement & Loyalty Statistics: The Ultimate Collection Posted by Brandon Carter on Aug 25, 2017 6:00:00 AM
Building a workplace that Millennials thrive in doesn't mean getting rid of everything that worked for previous generations. As you can see from this extensive collection, they're very traditional in some senses - they want good compensation, fair benefits, friends in the office, the chance to grow and develop, and a few corporate perks thrown in to sweeten the deal. But their unique circumstances and background have led them to approach companies with a different perspective. For example, being raised in a layoff culture has led them to view loyalty in terms of months, not years. Also, their mobile technology-centric lifestyles have made them view the traditional, 9-5, cubicledwelling work arrangement as outdated.
SUBSCRIBE TO EMAIL UPDATES Email*
Notification Frequency* Instant Daily Weekly
SUBSCRIBE
To help you decipher and engage this generation for your company's success, we've compiled every relevant piece of data about Millennials in the workplace we can find. As with our other statistics pages (employee engagement and loyalty, 2016 edition), each stat comes with links to the original sources. We'll update this page frequently, so grab a bookmark or subscribe to the blog for the latest and greatest information.
Millennial Employee Engagement and Loyalty Stats 41% of millennials expect to be in their current job for two years or less (compared to 17% of Gen X and 10% of Boomers) (Job Applicator Center) 40% of millennials say they are “somewhat” committed to their employer (ReportLinker) 29% of millennials are engaged at work, 16% are actively disengaged, 55% are not engaged (Gallup) 54% of those younger than 35 say it's a good time to find a quality job versus 48% of those aged 35 and older (Gallup) 21% of millennials say they've changed jobs within the past year, more than 3x the number of non-millennials (Gallup) Millennial turnover costs the U.S. economy $30.5 billion annually (Gallup) 44% of Millennials say, if given the choice, they expect to leave their current employers in the next two years (Deloitte) 82% of millennials who work at independent insurance agencies are encouraging their friends and family to also get into the line of work (Vertafore) 67% of millennials who work at independent insurance agencies have been in the industry for three years or longer and plan to stay in the industry for as long as possible (Vertafore) 32% of workers ages 18-35 say they can see themselves leaving their job within a year (Comparably) 24% of workers over 35 say they can see themselves leaving their job within a year vs 32% of millennials (Comparably) 51% of Millennials are planning to leave their company in the next two years, compared to 37% of GenX and 25% of Boomers (Lightspeed) 19% of millennials and 8% of boomers are looking to exit their company (IBM) 50% of millennials would consider another job opportunity even if they weren’t looking to leave (IBM) 75% of older millennials plan to stay with their companies for at least a year (MetLife) 28% of workers ages 18-35 say they can see themselves staying on for at least another two years (Comparably) 67% of gig-only millennials reported that they like their current work situation and wouldn’t want to change it, and 75% of workers over the age of 56 reported the same (Prudential) 45% of Gen X gig-only workers reported satisfaction with their work (Prudential) 44% of millennial leaders say they intend to stay at their same company for more than 15 years; 29% of non-millennial leaders said the same thing (The Conference Board) 64% of younger millennials plan to stay stay with their companies for at least a year (MetLife) 78% of Millennials prefer a stable job (DeVry University) 32% of millennials said they are likely to leave their job within the next six months, compared to 11-12% of GenXers and Boomers (Clutch) 71% of Millennials are actively seeking a new job, compared to 44% of Baby Boomers (ICIMS) 48% of millennials have been in their current job five years or longer (Clark University) 42% of millennials expect to change jobs at least every 1-3 years (Jobvite) 50% of Millennial employees rarely think about leaving their organization to work somewhere else, compared to 54% of Gen Xers and 63% of Baby Boomers (Modern Survey) 50% of Millennials (compared with 60% of non-millennials) strongly agree that they plan to be working at their company one year from now (Gallup) 42% of Millennials are looking for jobs with other companies, along with 38% of Gen X and 22% of Boomers (Modern Survey) 76% of Millennial employees expect to change careers – not just jobs – at some point (Cornerstone) 93% of millennials left their company the last time they changed roles (Gallup) 23% of Millennial employees intend to stay at their current organization for 11+ years, compared to 38% of Gen X, 21% of Baby Boomers (Modern Survey) 25% of Millennials intend to stay at their organization for a year or less, compared to 13% of Boomers and Gen X (Modern Survey) More than 60% of Millennials said that they plan to stay in their jobs for some time. However, over 25% admitted that they often thought about quitting their jobs (Boston College) Top reasons why Millennials consider leaving their jobs: to make more money, to move forward in their careers, to pursue work that is more aligned with their passions, and to have more flexibility/better work-life balance (Boston College) Workers ages 18-35 rank career advancement opportunities (32%) and work-life balance (34%) as most important to them at work (Comparably) 51% of U.S. workers overall (60% of millennials) are considering new employment opportunities (Gallup) 36% of Millennials report that they will look for a job with a different organization in the next 12 months if the job market improves, compared with 21% of non-millennials (Gallup) Engaged millennials are 64% less likely to say they will switch jobs if the job market improves in the next 12 months (Gallup) Millennials (29%) report that higher salary is the biggest contributor to their loyalty, compared to 20% of the broader workforce (Staples) Only 26% of Millennials feel like job hopping is the best way to advance their careers (Boston College) Millennials are 50% more likely to relocate and 16% more likely to switch industries for a new job than nonmillennials (LinkedIn) 30% of companies lost 15% or more of their millennial employees in the past year (Millennial Branding/Beyond.com) 47% of Gen X would leave their current job for another offering more money and a more innovative environment (compared to only 42% of Millennials) (IBM) 57% of Millennials believe corporate loyalty is dead (Elance/Odesk) Millennials are roughly two times more likely to leave a job after two years, 1.5 times more likely after five years and half as likely to stay after 10 years, compared to Generation X and Baby Boomer respondents (Nielsen) 43% of Millennials intend to switch jobs in 2015 (Aon Hewitt) 82% of Millennials say they are loyal to their employers (but only 1% of HR professionals describe Millennials as loyal to their employers) (Beyond.com) 83% of Millennials say they would prefer to work for one company for a long time (EdAssist) 68% of Millennials say the longest they would stay at a job they like is at least three years (Qualtrics) 51% of Millennials imagine they will stay at their current job for four years or longer, if not until they retire (EdAssist) 53% of CFOs say millennials are less loyal to the company (Duke/CFO) 91% of Millennials don’t intend to stick with their job for more than three years (Future Workplace) Half of all working Millennials believe “switching jobs helps you climb the corporate ladder faster" (MTV) Only one in four Millennials have had more than four jobs in the last 10 years (Clark University) Millennials plan to work for five different companies in their lifetimes (Millennial Branding/Randstad) Millennials are no more likely than non-millennials to leave their jobs in the next six months (Oxford Economics) 52% of Millennials think employee loyalty is overrated (Elance/Odesk) 58% of Millennials plan to leave their jobs in three years or less (Elance/Odesk) 53% of hiring managers say it's difficult to find & retain Millennial employees (Elance/Odesk) 87% of companies said it cost $15,000 to $25,000 to replace a departed millennial employee (Millennial Branding/Beyond.com) 25% of Millennials believe that staying at a job for seven months indicates they're loyal; Boomers believe that number is five years (Ultimate Software) Millennials who feel they're at a great workplace are 25 times more likely to plan a long-term future at that workplace (Great Place to Work) 62% of millennials who feel they can talk with their manager about non-work-related issues plan to be with their current organization one year from now (Gallup) 71% of millennials who strongly agree that they know what their organization stands for and what makes it different from its competitors say they plan to be with their company for at least one year (Gallup) 21% of young women have been the victim of sexism in the workplace (1000 Dreams Fund) 32% of young women only keep their existing jobs just to pay off college debt (1000 Dreams Fund) Those ages 18-34 (26%) and 35-54 (27%) are more likely to cite technology as a concern in overseeing an older employee (OfficeTeam)
Stats about Millennials and Career Goals 25% of Millennials say their top career goal is to "Make a positive impact on my organization" (compared to 21% of GenX and 23% of Baby Boomers) (IBM) 55% of Millennials cite leadership opportunities as a key consideration (Impraise) 45% of Gen Z and millennials want to work in technology (45%), the next highest choice was education (17%) (Future Workplace) Only about 20% of Millennials want to advance if it means spending less time with their families / personal lives (Boston College) Millennials top three work-related fears: getting stuck with no development opportunities, not being able to realize their career goals, and not finding a job that matches their personality (Universum) 45% of Millennials would quit a job if they didn't see a career path they wanted at the company (Ultimate Software) 84% of millennials say that helping to make a positive difference in the world is more important than professional recognition (Bentley University) 58% of Millennials expect employers to provide them with learning opportunities relevant to their job (EdAssist) 63% of Millennials look for jobs at learning organizations where they will have access to training, workshops, and company-funded postgraduate schooling (Impraise) 58% of employees (62% of Millennials and GenX) say that professional development contributes to their job satisfaction (CompTIA) 87% of millennials say professional development or career growth opportunities are very important (Gallup) 12% of employees feel their employers aid them in their career development (Bridge) 59% of Millennials would prefer a job with a strong potential for professional development (EdAssist) 40% of Millennials say that becoming a manager/leader is “very important” (Universum)
30% of millennials leave due to better offers elsewhere, almost the same amount leave because their career goals aren't in line with their employer (Millennial Branding/Beyond.com) 26% of Millennials feel their employers are actually invested in their professional development (EdAssist) 78% of Millennials say workplace environment affects their decisions to stay at a job (RingCentral) 62% of executives say Millennials will consider leaving their jobs due to lack of learning and development, just 31% of Millennials say they have considered this (Oxford Economics) 42% of North American Millennials are in favor of working long hours if it speeds up career progress (Universum) 58% of Generation Zers said they would come into work on evenings and weekends in exchange for a bigger paycheck, compared with 45% of millennials, 40% of Gen X, and 33% of boomers (Monster) Young Millennials age 18-24 (25.1%) and older Millennials age 25-34 (29.2%) are more than twice as likely to get company emails on their mobile device compared to Baby Boomers age 65+ (12.2%) (Samanage) 68% of millennials would sacrifice a friendship with a colleague if it meant getting a promotion; 62% of Baby Boomers wouldn't even consider it (LinkedIn) 66% of Millennials would like to start their own business and 37% would like to work on their own (Bentley University) 38% of millennials ages 18-35 say they plan to start their own company in the next five years (Comparably) 54% of millennials would quit their job and start a business in the next six months if they had the tools and resources needed, compared to 41% of all adults (America's Small Business Development Centers) 61% of millennials say there is more job security in owning their own business than in working for someone else; 64% of boomers think there is greater job security in working for someone else than in owning their own business (America's Small Business Development Centers) 53% of millennials aspire to become the leader or most senior executive within their current organization (Deloitte) 51% of recent grads feel like they're underemployed (Accenture) 71% of Millennials expecting to leave their employer in the next two years are unhappy with how their leadership skills are being developed (Deloitte) One-third of millennials think socializing with coworkers will help them move up the ladder (compared to 5% of Baby Boomers) (LinkedIn) 50% of millennials, 40% of Gen X and 35% of boomers say burnout is motivating them to consider changing jobs (Staples) 48% of baby boomers reported being the top performer at their employer for jobs similar to theirs; 40% of millennials reported being the top performer, the lowest of any generation surveyed (PayScale)
Stats About What Millennials Want in Employers and Workplaces 67% of millennials say they are “somewhat happy” at work (Teem) 40% of Millennials have high job satisfaction (Deloitte) 58% of Millennials want to work for a small or medium sized company compared to 63% of Gen X and 71% of Baby Boomers. Only 13% want to work at very large or global companies with 10,000 or more employees (Future Workplace) 52% of millennials say opportunities for career progression is the most desirable quality in a workplace, competitive wages and financial incentives (44%), good training and development programs (35%) (PWC) 76% of millennials think professional development opportunities are one of the most important elements of company culture (Execu-Search) 59% of millennials say opportunities to learn and grow are extremely important to them when applying for a job (Gallup) 80% of 2016 grads expect their first employer to provide formal training (Accenture) 54% of 2014 & 2015 grads received formal training from their first employer (Accenture) 53% of Millennials say learning new things or having access to professional development opportunities would make them stay at their job (EdAssist) 59% of Millennials would "often recommend their organization as a great place to work" (Modern Survey) 53% of Millennials say a healthy work-life balance would make them stay at their job (EdAssist) More than 80% of Millennials say they're willing to put in a great deal of effort beyond that normally expected in order to help their organization be successful (Boston College) 85% of Millennials agree that they're treated with respect at work (Boston College) Millennials' top attributes of the perfect boss: Ethical and fair 35%, Transparent and readily shares information 35%, Dependable and consistent 32% (IBM) Traits Millennials look for in employers: Treat employees fairly (73.1%), corporate social responsibility (46.6%), brand image (39.5%), prestige (30.5%) (NSHSS) Work atmosphere traits Millennials seek in employers: work/life balance (69.2%), friendly coworkers (57.3%), friendly to people of all backgrounds (55.3%) (NSHSS) 57% of Millennials say that work-life balance and well-being in a job are "very important" to them (Gallup) 33% of Millennials want collaborative workspaces (CBRE) Among Millennials, friendships in the workplace make them feel happy (57%), motivated (50%), and productive (39%) (LinkedIn) 78% of Millennials say it is more important to enjoy work than to make a lot of money (Clark University) 65% of millennials said "they did not make enough money to cover expenses or are living paycheck to paycheck" (Ernst & Young) 64% of Millennials and Gen Z employees feel stressed all or most of the time at work (Udemy) 67% of Millennials said their financial stress hinders their focus and productivity at work, compared to 32% of Baby Boomers (Bank of America) Half of Millennials would “rather have no job than a job they hate” (MTV) 64% of Millennials said they would rather make $40,000 a year at a job they love than $100,000 a year at a job they think is boring (Intelligence Group) 49% of millennials are satisfied with the growth and development opportunities and 47% are satisfied with their company's employee recognition practices (American Psychological Association) 87% of millennials rate "professional or career growth and development opportunities" as important to them in a job; 69% of non-millennials agree (Gallup) 50% of millennials say they would consider taking a job with a different company for a raise of 20% or less (Gallup) 90% of millennials would choose to stay in a job for the next 10 years if they knew they'd get annual raises and upward career mobility (Qualtrics) Engaged Millennials are 26% less likely than millennials who aren't engaged to say they would consider taking a job with a different company for a raise of 20% or less (Gallup) 41% of Millennials would prefer a job with a potential for regular pay raises (EdAssist) 61% of Millennials say they would switch to a company with no performance reviews (Adobe) 82% of Millennials said it was important to them to have a career that does some good in the world (Clark University) Among workers ages 18 to 35, 75% expect employers to take a stand on equal rights, climate change, immigration and constitutional rights (Glassdoor) 67% of 33 to 44 year olds and 49% of those 45 and older favor employer involvement (Glassdoor) 63% of Millennials like their employers to contribute to social or ethical causes (Brookings) 44% of Millennials say they would be more loyal to their organization if their CEO took a public position on a hotly debated issue; 19% say they would be less loyal if their CEO spoke out (Weber Shandwick) 35% of workers say an eco-friendly workplace is important to consider when looking at a new job, compared to over 50% of Millennials (Staples) 0
90% of millennials said they consider a company's sustainability important, compared to 84% of GenX and 77% of Boomers (Lightspeed) 81% of millennials expect companies to publicly pledge to be good corporate citizens (Horizon Media) 20% of Millennial women “strongly agree” that women are less likely to be considered for senior-level roles in a business/corporate setting than their male counterparts (Nielsen) 23% of men and women ages 18-35 say they feel their gender has held them back in their careers (Comparably) 35% of Millennials say strong leadership defines a good work culture (Staples) 28% of Millennials say feeling appreciated contributes to their loyalty (Staples) 26% of Millennials say recognition motivates them to do their best at work (Staples) 69% of Millennials say the people whom they work with would enable their best work (Millennial Branding/Randstad) 60% of executives think Millennials are frustrated with manager quality, only 18% of Millennials say they are (Oxford Economics) 78% of Millennials see workplace quality as important when choosing an employer (CBRE) 42% of Millennials want feedback every week. This is over twice the percentage of every other generation (Ultimate Software) 19% of Millennials say they receive routine feedback from managers (Gallup) 31% of Boomers felt they needed less feedback than millennials or Gen X (Korn Ferry) 17% of Millennials say the feedback they receive from manaers is meaningful (Gallup) 28% millennials have texted a manager out of work hours for a non-work related issue, compared to only 10% of baby boomers (LinkedIn)
100
88% of Millennials want their coworkers to be their friends (MTV) 54% of Gen Z say the people they work with is the attribute that matters most in order to do their best work (Future Workplace) 58% of Generation Zers said they would come into work on evenings and weekends in exchange for a bigger paycheck, compared with 45% of millennials, 40% of Gen X, and 33% of boomers (Monster) 89% of millennials regularly check work email after the work day has ended (Bentley University) 60% of Millennials say their employers expect them to be accessible during off hours (RingCentral) 70% of Millennials work up to 20 hours or more outside the office each week (RingCentral) 34% of Millennials would quit a job on the spot if their employer asked them to delete their Facebook page (Ultimate Software) 50% of Millennials say their poor work ethic left them unprepared for their first job, followed closely by poor time management (47%) and organization (38%) skills (Bentley University) 30% of executives give special attention to the particular wants and needs of millennials (Oxford Economics) 28% of Millennials feel their current organization is making full use of their skills (Deloitte) 72% of Millennials feel their schooling did not effectively prepare them for the workforce (EdAssist) 6 in 10 Millennials cite a “sense of purpose,” as part of the reason they chose to work for their current employers (Deloitte) 40% of Millennials who plan to remain in their jobs beyond 2020 say their employers have a strong sense of purpose beyond financial success (Deloitte) 38% of millennials would like to see the recognition program at their current employer improved (Aon Hewitt) 21% of Millennials define a good work environment as a place that offers incentives and perks (Staples) 46% of Millenials say more office perks would improve their happiness (Staples) 40% of millennials see automation as a threat to their jobs (Deloitte) 53% of Millennials see their workplace becoming less human as a result of automation (Deloitte) Millennials are far more likely to continue employment at a company that implements petfriendly policies (60%) than their elders (39%) (Banfield) 75% of Gen Z college grads are more likely to work for a company that offers opportunities to work abroad (Graebel)
Stats About Millennials and Employee Benefits 35% of millennials have turned down job offers because they were dissatisfied with the benefits, compared to 27% of all other age categories (Anthem) 77% of Millennials would be willing to take a salary cut in exchange for long-term job security (Qualtrics) 90% of millennials would choose to stay in a job for the next 10 years if they knew they'd get annual raises and upward career mobility (Qualtrics) 60% of current undergrads expect jobs to start at $60,000 annually; 10% expect starting salaries of $100,000 a year (Yello) 64% of millennials say benefits are extremely or very important to employer loyalty (Aflac) 64% of millennials care more about perks and benefits, compared to 51% of baby boomers and 54% of Gen X (LinkedIn) 0
64% of millennials care more about perks and benefits, compared to 51% of baby boomers and 54% of Gen X (LinkedIn) 87% of employees from Generation X and Generation Y feel their current benefits package is not sufficiently flexible to meet their personal and financial needs (Barclays) Generation X (15%) and Generation Y (12%) have considered changing employers to one that offers better benefits in the last 12 months (Barclays) 94% of Millennials, 92% of Gen X say nontraditional benefits make employers more attractive (ICIMS) 57% of small businesses offer different benefit packages or perks to attract young talent (Vistage) 15% of Gen Z and 19% of Millennials say health care is the most important employee benefit (Future Workplace) Younger generations are more confident in their knowledge of HSAs (59% of millennials and 55% of Gen Xers) vs older generations (44% of baby boomers and 28% of the silent generation) (LIMRA) 43% of millennials and 30% of non-millennials are not reading most of their employee benefits handbooks; 11% of millennials haven’t even opened their handbooks (GuideSpark) 23% of millennials and 36% of non-millennials don't know where their benefit handbooks are anymore (GuideSpark) 40% of Millennials over age 26 opt in to HDHPs (BenefitFocus) Employees aged 18-34 (89%) and 35-44 (84%) prefer benefits or perks to pay raises, compared to those aged 45-54 (70%) and 55-64 (66%) (Glassdoor) Compared with Gen X and boomers, millennials were more likely to ask for a generic form of medicine (47%), manage healthcare expenses through a budget (35%) and check their plans to ensure coverage (57%) (EBRI) Most important factors in Millennial workplace selection: career advancement, salary, benefits, work-life balance and job security (Boston College) 75% of Millennials would prefer to work from home or other locations where they feel they could be most productive. However, only 43% currently are allowed to do this (Deloitte) 22% of Millennials prefer to go into work every day (DeVry University) 84% of Millennials report at least some degree of flexible working, with 39% saying they were a part of highly flexible environments (Deloitte) 19% of both Gen Z and Millennials say flexibility is their most important workplace benefit (Future Workplace) 59% of Millennials say flexibility will improve productivity, 49% say it’ll improve their happiness (Staples) 74% of Millennials expect flexible schedules in the workplace (Deep Focus) 43% of millennials would switch jobs for greater flexibility (Unify) 74% of Millennials want flexible work schedules (Intelligence Group) 50% of Millennials say flexible work hours and the freedom to work from any location would improve their work/life balance (RingCentral) 59% of North America Millennials define work/life balance as “flexible work hours” (Universum) 63% of Millennials say they're more likely to join a company that offers the option to telecommute (along with 57% of GenX, 41% of Boomers) (CompTIA) 81% of Millennials think they should be allowed to make their own hours at work versus 69% of Boomers (MTV) 68% of Millennials say compensation is the most important aspect of their workplace (Oxford Economics) 76% of Hiring Managers believe Millennials are motivated by money (Elance/Odesk) 53% of Millennials say their biggest motivator is having the chance to work on exciting and interesting projects (Elance/Odesk) 51% of Millennials say benefits are where their current employer has the most room for improvement (Aon Hewitt) 41% of Millennials say higher compensation would increase their loyalty and engagement with the company (Oxford Economics) 28% of workers ages 18-35 said they were somewhat or very likely to share their salary with coworkers; only 12% of workers older than 40 said the same (Comparably) 27% of millennial workers ages 18-35 said their decision to discuss their salary with coworkers is dependent on the situation (Comparably) 22% of millennials ages 31-35 were somewhat or very likely to reveal their salary to coworkers (Comparably) 38% of Millennials say money would motivate them to work harder and stay with their employer longer (opportunities for advancement was cited by 30%, meaningful work 15%, good boss 7%, and working for a fast-growing company 6%) (Millennial Branding/Randstad) 74% of Gen Z said work should have a greater purpose than earning a salary, compared to 45% of millennials, 40% of Generation X, and 33% of boomers (Monster) The most common adaptions to accommodate millennials in the U.S. are making work hours more flexible (21%), allowing work from home (17%), increasing training (16%), implementing new mentoring programs (13%), and altering corporate culture (10%) (Duke/CFO) 67% more Millennials than Baby Boomers say that "having a great mentor" at work is important (Atenga) Salary and "meaningful work" are the most important benefits potential employees look for (Millennial Branding/Beyond.com) 86% of Millennials state they value having benefits personalized to meet their individual circumstances and age (MetLife) 96% of Millennials say great health-care benefits are important in choosing a job, more important than frequent raises (94%) and promotions (82%) (Bentley University) 77% of Millennials say flexible work hours would make the workplace more productive for people their age (Bentley University) 83% of Millennials ranked travel rewards as the number one reward that they would want most from an employer (Achievers) 33% of Millennials expect their employer to help repay existing student loans (EdAssist) 50% of Millennials expect financial support in paying for further education (EdAssist) 44% of Millennials are relying on their employers to ensure their financial security (MetLife) Benefits each generation is most interested in: employee discount programs (34% of Boomers), paid parental leave (34% of Gen X), financial wellness programs (46% of millennials) (ADP) Millennials’ annual hourly earnings are growing at a rate nearly double the national rate (5.8% vs 3%) (Paychex) The average hourly wage for a female millennial is $20.44, but $23.03 for men (Paychex) Female millennial hourly workers experience a lower annual growth rate in hourly wages at 5.3% vs 6.2% for men (Paychex) 72% of Millennials say wellness initiatives are the best way for their employers to help relieve stress (Udemy) 65% of millennials said "they did not make enough money to cover expenses or are living paycheck to paycheck" (Ernst & Young) 30% of Millennials say they contribute more than 10% of pay to their retirement account (TransAmerica) 82% of millennials are investing in a retirement savings vehicle, more than Gen X (77%) and baby boomers (75%) (BoA Merrill Lynch) 60% of Millennials would forgo some of their pay if it meant a more secure retirement (Willis Towers Watson) Among 20-something workers, 84% go along with being auto-enrolled in a 401(k) plan (T. Rowe Price) 78% of millennials are on track to replace 80% of their pay in retirement, compared to 62% for Generation X and 50% for baby boomers (Wells Fargo) 30% of young workers sign themselves up for 401(k) plans (over 50% of workers in their 30s, 40s, 50s, and early 60s voluntarily take this step) (T. Rowe Price) 18% of millennials are confident they will have a secure retirement (TransAmerica) 60% of Millennials would forgo some of their pay if it meant a more secure retirement (Willis Towers Watson) 30% of Millennials say they contribute more than 10% of pay to their retirement account (TransAmerica) Millennial parents (ages 18-34) contribute a median of 10% of their annual income to their retirement savings vs. Gen X parents (ages 35-54) with a median of 8% and Baby Boomer parents (ages 55+) with 5% (NerdWallet) Among employed parents currently contributing a percentage of their income to retirement savings, 38% of millennials say they’re socking away more than 15% of their income vs. 24% of Gen X and 23% of Baby Boomers (NerdWallet) 45% of millennial parents currently contributing to retirement savings say they save more than 10% of their annual income (NerdWallet) Among 20-something workers, 84% go along with being auto-enrolled in a 40(k) plan (T. Rowe Price) 8 out of 10 Millennials think they deserve to be recognized more for their work (MTV) Baby boomers were twice as likely (26%) to say they need four weeks or more off work than millennials (13%) (TriNet) 35.7% of Millennial employees would give up over $1000 for five extra PTO days (LendingTree) 34% of millennials work every day of their vacations (Alamo) 28% of millennials and 25% of boomers said they weren't using up their vacation days because they had too much work to do (Bankrate) 36% of employees ages 18-34 check in with the office at least once or twice a day while on vacation (Accountemps) Gen X is actually the least likely to unplug on vacation (23% vs. 28% of Millennials) and feel more comfortable taking time off knowing they can connect to work (82% vs. 77% of Millennials) (Project: Time Off) 46% of Millennials would be more likely to make a donation to a corporate giving program if a coworker encouraged them to (Case Foundation) Just 27% of Millennials would be more likely to donate to a CSR program if a direct supervisor suggested that they do so, 21% if the CEO asked (Case Foundation) 84% of Millennials made a corporate donation in 2014, 22% of those who gave said at least part of it was done through solicitation from an employer (Case Foundation) 64% of Millennials said their direct managers as a top influence to improve their overall health (Welltok) 60% of employees between 18 and 34 thought employers should be involved in financial health, less than half of those 45 and older agreed (Welltok) 23% of employees under the age of 35 consider retirement on a weekly basis, compared to 27% of those 25-49 and 45% of those 50+ (OneAmerica) 83% of millennials plan to work into retirement (Merrill Edge) 66% of millennials agree "If I found or was offered a job at another company with better perks, including availability of snacks, I would take it." (PeaPod) 70% of millennial gig-only workers (or those without a job that provides benefits) have no access to benefits vs. 44% of gig-only workers over the age of 55 (Prudential) Nearly 70% of millennials said a human advisor would deliver a higher return on investment vs 31% that said as much of robo-advisors (LendEDU) 54% of millennials that work with human advisors said getting started on a savings path was easy, but only 38% said their robo-advisor platforms made it easy to get started (LendEDU) Topics: Employee Engagement + Loyalty, Benefits Trends
Justyna Wojtczak Great summary! I think the good example targeted for Millenials is GetBadges (https://getbadges.io). This is a platform dedicated for IT departments and it tries to resolve problems with engaging programmers, testers and PMs with their everyday work. People are motivated by receiving achievements and fighting with monsters. GetBadges rewards players with badges and display statistics in a monthly leaderboard and the goals are set by GameMaster. We have a lot of ideas how to improve it, but I think the most important now is to concentrate on game mechanics and how to more fully engage players. GetBadges gamification platform Thanks!
Access Perks is a division of Access Development | ©2011-2017 | All rights reserved.
TRENDING POSTS Employee Engagement & Loyalty Statistics: The Ultimate Collection 2016 Employee Engagement & Loyalty Statistics 2017 Employee Engagement & Loyalty Statistics Millennial Employee Engagement & Loyalty Statistics: The Ultimate Collection Why Employee Discount Programs Work: From One HR Professional to Another