Compensation Least Important Factor for Millennials

March 19, 2015 – Young professionals are becoming more motivated by given the opportunity to make an impact and aligning with company values, according to a recent study released by Futurestep, which shows the top considerations for attracting and retaining millennial employees and recruits. When asked what matters most to employees who are part of the millennial generation – generally defined as those born after 1980 – the greatest number of respondents (23 percent) said it was “the ability to make an impact on the business,” followed by “a clear path for advancement” (20 percent) and “development and ongoing feedback” (16 percent). Income came in at fourth place at 13 percent. When questioning what makes millennials choose one job over another, more than a third (38 percent) said “visibility and buy-in to the vision of the organization” while 28 percent said “a clear path for advancement.” “Job title and pay” came in third place at 18 percent. “This research demonstrates the changing priorities of today’s young workforce. Where traditionally we might have expected salary to be the No. 1 differentiator for talent choosing their next employer, millennials are now placing greater value on understanding what a company stands for and how, as employees, they can play a role in growing the organization into a better, stronger brand,” said Trish Healy, Futurestep vice president of RPO Operations in North America. “As part of the recruiting and onboarding process, organizations need to clearly communicate the paths for advancement and create ongoing dialogue about development opportunities.”

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