be-nz logo
Story image

Millennials seek work-life balance in long-term careers - study

09 May 2017

Personality assessment and recruitment company PeopleKeys have announced a new tool to help manage and motivate millennial employees.

“We found that many baby boomer managers (between 53-71) were struggling to keep, relate to, and motivate millennials,” PeopleKeys international director Brad Smith says.

“There are sometimes differences between generations, but that it is not that perplexing if you understand certain key principles,” Smith says.

As the baby boomers retire, millennials (aged 22-40) are rapidly moving through the corporate ranks, but they don't always stay in one position.

PeopleKeys' Behavioural Attitude Index (BAI) assessment tool can give some insight on why these individuals are not having certain key values met within their position.

They found that many millennials will not stay long term if work-life balance is not maintained.

"Studies show when personal passions fit with the job role and corporate culture, millennials enthusiastically perform their duties if their I-SPEAK matches with the career needs (Inner Awareness, Social, Political, Economic, Artistic, Knowledge) they thrive and are motivated,” Smith says.

The I-SPEAK acronym represents six distinct styles that speak to a person. Each illustrates a different way of prioritising which people find most fulfilling.

“If it doesn't, then productivity goes down," Smith says.

The millennial generation has one of the highest turnover rates, and are the generation most likely to switch jobs.

Studies have also shown that millennials are widely misunderstood by their employers.

Findings in a recent study by Fit Small Business showed that 34% of millennials selected healthcare as a top priority, whereas only 7% said Facebook-HQ style perks mattered to them, contrary to employers' expectations. 

Millennials are also willing to travel for the right job – almost half the respondents said they didn’t care how long they would have to travel.

To understand, motivate, and manage this generation, employers and managers needed to understand the millennial individual's underlying motivators, passions, and values.

Story image
Partnership to develop platform for New Zealand agritech AI research
“This is a special collaboration, enhancing the capabilities and support we offer to New Zealand’s agricultural research communities, particularly those working in emerging technologies, such as AI and deep learning."More
Story image
Five ways to reduce the environmental impact of printing and save costs
Before organisations can reduce their environmental impact, they need to start with clear visibility into how much paper and energy they currently use, writes Y Soft managing director for A/NZ Adam O’Neill.More
Story image
rhipe launches security solution for SMEs in APAC region
SmartEncrypt has been developed to complement businesses existing security and business continuity strategies and provide smaller to medium enterprises the levels of digital protection typically reserved for big business.More
Story image
Vodafone NZ fast-tracks regional investment programme
"Each year we invest hundreds of millions of dollars into our digital infrastructure, but we are really ramping it up this year and beyond."More
Story image
Microsoft study reveals improvement in digital civility
"Our societies are relying on and embracing digital technologies more than ever amid COVID-19, and a safer internet will improve experiences and shape the well-being of our communities."More
Story image
Men more likely than woman to join a tech start up - study
"With the pandemic creating a new wave of entrepreneurism and the launch of exciting startups, now is the time for these companies to be ambitious and attract tech talent to their organisations."More