Quick 5 facts of Millennial of US
Millennial also popularly known as Generation Y belong to those group of people born between 1982 and 2003. They are the force to reckon with, as their forceful presence, deeds and actions are likely to influence American way of life and work culture in the coming decades.
These Gen Y being today’s young adults are entirely different from that of the earlier generations. The “Millennial” have become the current catch phrase in the U.S for the simple fact that they are a breed apart as compared to their parents. Data based on studies conducted reveal that “Millennial” possess certain features that distinguish them from their parents.
The below quick 5 facts is a sample of the key features of this “Generation Y” known as “Millennial” of US.
Millennial would comprise to be the major workforce in the U.S. by 2025 accounting for almost 75% of the population. This is no doubt likely to act as a great shift in the coming decade and hence is the reason for a majority of companies to plan in advance to utilize the millennial workforce to the optimum as they would constitute nearly ¾th of the workforce.
Personal Traits of Millennial
Data reveals that this Gen Y is not too eager to get married at an early age. This generation is found to be highly educated with only a few percentages of them remaining uneducated. Having made an entry into the work-force during a sluggish economy, many of them are underemployed. But despite facing such harsh realities, this group of Generation Y is found to be highly motivated and optimistic when it comes to the question of what the future is likely to offer them?
What does Gen Y want?
A majority (around 90%) of Millennial are of the opinion that success of a business should be given greater value than the profit. Around 80% of them prefer having a collaborative and flexible work culture. Nearly 3.75% of them feel it is essential to prioritize the same for making the globe a better place to live. Around 4% of them want work-life balance.
Views on Feedback
About 80% millennial expressed that they would prefer having instant feedback and recognition rather than formal feedback. This many felt was essential for their own development and a better understanding of the job. Though millennials prefer recognition similar to other generation of working class, they expect immediate and instant recognition for the job they do as against waiting for a formal feedback.
Opinion on Communication
Though millennial in general feel communication is important. Nearly one out of 10 say once a week communication is enough and 1/4th feel once a day communication is sufficient. However, a majority of millennial employees say around 95% carry the same opinion that effective communication with their seniors or managers is vital for their career growth.
Though millennial as a group had to face a severe financial crisis in the early stages of their lives, nearly half of them, say around 50% are optimistic and are of the same view that the country is on the path to recovery and is likely to see the best years ahead.
Millennial have ushered in an era where the U.S. population is led by minorities. Just like every other generation, the Gen Y too reveals unique as well as generalized traits. Since they have come of age during a period of technological changes, economic upset, and globalization, they tend to experience and possess behavioral traits that set them apart from their parents.