Staples Advantage Workplace Index Finds Salary is a Priority for Millennials, Debunking a Common Myth
September 08 2015 - 09:00AM
Business Wire
Index Uncovers Five Nontraditional Ways to
Attract and Retain Millennial Employees
Contrary to popular belief, millennials are as motivated by
salary as their older cohorts, according to the Staples Advantage
Workplace Index, a recent study of office workers in the U.S. and
Canada, conducted by the business-to-business division of Staples.
Almost one third of millennials (29 percent) report that higher
salary is the biggest contributor to their loyalty, despite only 20
percent of the broader workforce reporting the same.
“Millennials are becoming the largest demographic in the U.S.
workforce – about one third of all workers – so it’s critical for
employers to understand how to attract and retain millennial
talent,” said John Burke, senior vice president, chief culture
officer, Staples, Inc. “Our Workplace Index found that contrary to
popular belief, salary is important to millennials, just as it is
to older workers.” The survey also revealed that flexibility and
office perks are key to retaining to millennials.
Five unconventional ways to attract and retain millennial
talent
U.S. office workers as a whole consider title and work
responsibilities (38 percent) and work-life balance (30 percent) as
leading contributors to their loyalty. Millennials favor more
nontraditional benefits in the workplace.
- Flexibility where and when they
work: Over half of millennials report they work from home after
the standard work day is done, compared to only 39 percent of all
U.S. office workers. Given this, it is no surprise that millennials
say more flexibility will improve their happiness (49 percent) and
their productivity (59 percent).
- Office perks promote positive
culture: Office perks, such as a gym on site, a well-stocked
breakroom, and free lunches, are valuable to millennials. One in
five (21 percent) define a good work culture as a place that offers
incentives and perks, and nearly half (46 percent) say more office
perks would improve their happiness.
- Eco-friendliness appeals to
altruistic millennials: Eco-friendly practices in the workplace
can provide benefits not only for the environment, but for
recruiting millennials as well. When making an employment decision,
half of all millennials say an eco-friendly company is important,
compared to only 35 percent of the broader workforce.
- Improved breakroom and encouraged
break time: Over a third of millennials (34 percent) say they
feel like they can’t take a break because of guilt, compared to
only 22 percent of all U.S. office workers. However, over half of
millennials (62 percent) say having a break time to refresh would
increase their productivity. Millennials also say a well-stocked
breakroom leads to happier employees (57 percent), less stress (35
percent), more productive employees (35 percent), and a more social
environment (33 percent).
- Trust in leadership and relationship
with direct boss: Millennials that are not expecting to change
jobs note that trust in leadership and trust in their direct boss
contributes to their loyalty. In addition, one in five millennials
report that their direct boss motivates them to do their best work,
and over a third (35 percent) note that strong leadership defines a
good work culture. Feedback from their boss is also important to
this generation. Nearly one third of millennials (28 percent) say
feeling appreciated contributes to their loyalty and 26 percent say
recognition motivates them to do their best at work.
The majority of millennials (70 percent) expect to be in a
management position in the next five years, compared to 48 percent
of the broader workforce. With more millennials expected to rise to
management positions in the coming years, we expect these
nontraditional benefits to continue to become more prominent in
U.S. workplaces.
Key considerations that drive millennial productivity
Millennials seem to be less concerned with technology issues
than the broader employee base. While 72 percent of all U.S. office
workers say poorly performing technology decreases their
productivity, only 56 percent of millennials reported the same. In
addition, 49 percent of millennials say limited IT support will
decrease productivity, compared to 62 percent of all U.S. office
workers.
Millennials are also social media natives, and as such, it does
not seem to negatively impact their productivity. In fact, they say
the use of social networking sites/tools (28 percent) and apps that
track to-do lists (42 percent) actually increase their
productivity.
When asked how employers can help employees combat overwork and
burnout, the majority of the broader employee base (54 percent)
said employers should decrease their workload or provide more time
to complete tasks, compared to only 42 percent of millennials. This
could be due to millennials having grown up in the digital age
where the always-on mentality has dominated, so their threshold for
information overload is a bit higher.
Staples Advantage Workplace Index Methodology
The survey was conducted among 2,602 employees 18 or older
across a variety of companies, both in size, geography and
industry. A total of 1,528 employees were interviewed in the U.S.
(1,026 were classified as general workers and 502 as business
decision makers). A total of 1,074 employees were interviewed in
Canada (744 general office workers and 330 decision makers). The
interviews were conducted online by Redshift Research in May 2015.
This survey has a margin of error of +/- 1.9 percent at 95 percent
confidence limits.
Resources:
- Follow Staples Advantage on Twitter
@StaplesB2B to learn more about the Staples Advantage Workplace
Index.
- Visit the Staples Advantage Workplace
Index microsite to download the full report.
http://www.staplesadvantage.com/sites/workplace-index/index.html
- Slideshare:
http://www.slideshare.net/StaplesAdvantage/nontraditional-ways-to-attract-and-retain-millennials
- Infographic:
http://bit.do/millennialinfographic
About Staples Advantage
Staples Advantage, the business-to-business division of Staples,
Inc. (Nasdaq: SPLS), serves organizations of 10 or more employees
up to the Fortune 1000, helping them make more happen with more
products, greater cost savings and improved ordering efficiencies.
Staples Advantage provides its customers, including global
businesses, local, state and federal government, healthcare
organizations and educational institutions, with a one source
solution featuring comprehensive products and services like office
supplies, technology, printing, promotional products, furniture and
facility supplies, along with a customized level of account support
and best-in-class customer service. More information is available
at www.staplesadvantage.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150908005302/en/
Staples, Inc.Shweta Agarwal,
508-253-8249shweta.agarwal@staples.com
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