Millennials account for about a quarter of the world’s population, 71% of the US population, and about a third of the US workforce. They’re the dominant demographic of today’s workforce, influencing everything from corporate culture to the adoption of tech trends.
Despite their clear importance to the economy, millennials have often been the subject of dismissive takes from older generations. But the truth about millennials may be a little surprising, as the following stats may show!
Surprising Stats About Millennials in the Workplace
1. Millennials Earn Relatively Low Salaries
While millennials dominate the workforce, they don’t earn as much as you might think, as according to Smart Asset, millennials earn an average of $71,566 annually. In spite of this, their primary source of dissatisfaction at work doesn’t stem solely from frustrations over low incomes but also from feeling a lack of purpose and growth.
2. Millennials Aren’t Solely Driven by Money
Studies reveal that 71% of millennials are drawn to organizations that encourage global or community social responsibility, while 68% want recognition for their positive contributions. This preference suggests that a company’s values and mission matter as much as salary to many millennials.
“For most millennials, work is about much more than just a paycheck,” says Brooke Webber, Head of Marketing at Ninja Patches. “They’re typically looking for roles where they can make a difference, contribute to larger social goals, and feel fulfilled. Companies that only offer monetary incentives are clearly missing the mark with this generation.”
Enjoying their job and achieving a work-life balance are key indicators of success, cited by 62% and 58% of millennials, respectively. This focus on fulfillment over income drives millennials to seek workplaces that prioritize a healthy work environment and genuine job satisfaction.
3. Most Millennials Want Higher Salaries
Despite prioritizing purpose and job satisfaction over money, 66% of millennials say they would still like to earn more than they currently do.
CNBC reports that 5 in 10 millennials are dissatisfied with their wages, underscoring the nuanced approach companies need to take in balancing intrinsic rewards with fair compensation.
Reyansh Mestry, Head of Marketing at TopSource Worldwide, points out, “It’s not that millennials are necessarily obsessed with money—they simply want their work to be meaningful in every way. They want to make valuable contributions, but they also want to have those contributions valued in return.”
5. Millennials Are More Likely to Change Jobs Frequently
According to studies by Gallup and Zippia, the median tenure for millennials aged 25-34 is 2.8 years, while it’s 9.9 years for those between 35 and 40. While job hopping is generally viewed negatively, for millennials, this behavior reflects a desire for meaningful career progression and experiences
Alistair Flett, Managing Director at Pronto Hire, explains, “The millennial workforce thrives on change and progress. If companies can’t offer them a path to growth, they’ll seek it elsewhere.”
6. Many Millennials Are Considering a Career Change
Not only do millennials show a high inclination to switch jobs, but they’re also more likely than older generations to consider an entire career change. Studies show that as many as 66% of all millennial workers are currently contemplating a career change in the next few months.
7. Millennials Prefer Remote Work
Remote recruiting is a trend that is strongly shaping the job market, and it appears to strongly resonate with millennials.
Around 85% of millennials say they prefer remote work, with 82% demonstrating increased loyalty to companies that offer it. Additionally, 69% say remote work reduces their stress, indicating the value millennials place on flexibility.
“Remote work is more than just a perk for millennials—it’s almost a priority, especially in job roles that don’t necessarily have to be done from a physical office,” shares Jonathan Feniak, General Counsel at LLC Attorney. “It aligns with their need for flexibility, work-life balance, and autonomy, which are key to their job satisfaction.”
If you’re worried that transitioning to a remote working arrangement might hamper productivity, this article on tips for managing remote teams will help dispel those concerns.
8. Only 29% of Millennials Feel Emotionally Engaged at Work.
Gallup reports that only 29% of millennials feel emotionally engaged in their workplaces, a statistic highlighting the opportunity for employers to foster deeper connections and meaningful work experiences.
According to Rodger Desai, CEO of Prove, “Emotional engagement is pretty important for millennials. It’s about feeling valued and involved in a company’s strategic direction. Companies need to create transparent cultures that keep employees informed and invested.”
9. 69% of Millennials Believe Diversity Improves Their Worklife
Sixty-nine percent of millennials who see diversity in their senior management report feeling more motivated and engaged. Millennials want inclusive and diverse workplaces where they can thrive and contribute authentically.
Matthew Channell, Owner of TSW Training, adds, “Diversity is essential for millennials. They see it as a driving force in productivity and innovation, and companies that prioritize inclusive practices often experience higher engagement and morale.”
10. Millennials Seek Transparent, Values-Driven Leadership
Around 67% of millennials feel skeptical of leadership transparency, emphasizing the need for genuine action and clear communication from management, and demonstrating that millennials value authentic leaders who take concrete steps to improve the workplace.
“Millennials expect honesty and authenticity from leadership,” says David Speedy, General Manager at Workspace Direct. “They respect leaders who are open about company goals and genuinely committed to positive change. It’s not just about words but visible, meaningful actions that align with their values.”
How Can Companies Align Their Values with Their Millennial Workers?
As we’ve pointed out, millennials are the dominant force in today’s workforce and will be for the foreseeable future. This means that companies must adapt their cultures to keep employees engaged every single day in the millennial-driven evolution of the workplace. The stats suggest that the following might be the best ways to do this:
1. Improve Internal Communication
Millennials have become accustomed to almost instant communication, so this is the bare minimum. Clear, frequent, and honest internal communication may help millennial employees feel more engaged and connected to their team and company mission.
As Cara Heimbaugh, Content Marketing Leader at Happeo, puts it, “Millennials crave connection and a collaborative work environment. Feeling in the dark about strategic direction and important projects typically harms their morale and performance. In fact, 86% of Millennials say that a lack of effective communication is the main cause of workplace failures.
2. Have a Genuine Mission
We just made a point about improving internal communication to help millennials feel connected with your company’s mission. But there needs to be a mission to connect with in the first place.
Millennials really value the idea of doing good in the world and working for higher causes. This doesn’t necessarily mean working for or with nonprofits or purely for charitable causes, but to keep your millennial employees engaged, your company can and should have a mission that is larger than just making profits.
3. Supporting Diversity and Inclusion
As many as 69% of millennials believe that diverse leadership teams create a more motivating work environment. To create a rewarding work environment for millennials, one of the things you should then do is think about finding ways to promote diversity and inclusion while offering transparent, merit-based hiring and promotion practices.
4. Offer Competitive Salaries and Rewards for Good Performance
Despite the fact that millennials tend to prioritize passion over pay, compensation is still a pretty important factor in most millennials’ career decisions. A study by ManpowerGroup found that 92% of millennials list salary as a top consideration in their job decisions, so companies should develop fair and competitive compensation policies to attract and retain millennials. Additionally, as these employee recognition stats show, simply recognizing employees for outstanding contributions is an excellent way to keep them engaged.
5. Create Room for professional development
87% of millennials say they value opportunities to grow and develop professionally. So, if you’re looking to keep your millennials, offer opportunities for further learning and continuous technical skills development, with advancement opportunities for those who demonstrate improved capacity.
6. Embrace Technology
Millennials may not be the youngest or trendiest generation, but they are still highly attuned to technological developments, and they expect their workplaces to keep up.
For instance, developments such as artificial intelligence or web scraping with Python may make many manual tasks redundant, and workplaces that fail to adapt quickly may risk losing their millennial employees.
Final Word
Millennials may be somewhat hard to please, prioritizing passion and meaning but still wanting to be paid better. For companies looking to improve performance and reduce employee turnover, your best bet would be to aim for balance.
For more tips on improving employee productivity, we recommend reading our guide to hiring the most productive employees.
