Millennials are entering the workforce by greater numbers than ever before. Businesses are looking for ways to recruit top talent, including those who are recent college graduates. As businesses and startups look for ways to recruit high-quality candidates from GenY, they should take a look at the mindset of Millennials to gain better insight into the aspects of their business they should sell to those sought after applicants. A Spring 2013 study from oDesk and Millennial Branding, "Millennials and the Future of Work," resulted in an infographic and Slideshare that showcase how Millennial workers view work and the workplace in general.

Freelancers, Entrepreneurs and a New Mindset

According to the oDesk report, 90% of Millennials surveyed think being an entrepreneur means having a certain mindset, rather than starting a company. Aspects of this mindset mentioned include being a self-starter and risk-taker - someone who “spots opportunity.” It isn't just the definition of entrepreneurship that is experiencing a shift. While many consider starting their own business and being an entrepreneur is a risky endeavor, 57% of Millennials say being an entrepreneur is entirely a good thing and 58% classify themselves as entrepreneurs.

Freelancing is another area of business that is on the rise and more and more Millennials look for ways they can work from home and on their own schedules. The flexibility from freelancing, with respect to choosing where and when to work, as well as the potential earnings, are all reasons people show interest in freelancing. Many believe Gen X is best suited to run today's businesses, but many from Gen Y (66%) think they are ready to do so.

What Millennial Workers Really Want

Businesses and their processes are constantly shifting as CEOs, CMOs and executives look for ways to become more efficient, boost their bottom lines, and scale their businesses. While a business shouldn't have to make a multitude of changes based on the wants of GenY hires, if your business is looking to hire Millennials, there are a few ways you can appeal to top candidates. Business.com references the top benefits Millennials want now and by focusing on what Millennials really want and how your business can meet those needs, you can attract top GenY talent. 

  • Freedom: 89% of those surveyed want freedom to choose where/when they work.
  • Independence: 57% of Millennials quit their jobs to work for themselves
  • Choices: 66% responded saying that the ability to choose the type of work they do was the reason they would like to quit their job and work for themselves.
  • Change: 82% of the survey respondents did not find the idea of only having one job for life appealing

A Shift in the Workplace

Many workers prefer to work from home and find the flexibility offered by freelancing appealing. While some companies such as Yahoo! are requiring more workers to come into the office, others are offering more flexible work hours and locations to their employees. Regardless of where your business falls in terms of work hour freedoms, it's hard to deny that a shift is taking place in the general workforce and in workplace of many businesses. 40% of the oDesk respondents agree that the standard workday is going away and 18% strongly agree. IDC found that by 2015, the world's mobile worker population will reach 1.3 billion, representing 37.2% if the total workforce. As more and more GenY workers enter the workforce, and management roles, these numbers could continue increasing. A shift for more workplace freedoms and work hours flexibility is taking place worldwide.

What are your thoughts on Millennial workers and their view of entrepreneurship based on this survey?

 

 

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