In a two-year global generational study conducted by PwC with the University of Southern California and the London Business School and released in 2013 which they tout as the largest and most comprehensive assessment of millennial attitudes, researchers stressed the necessity of workplace evolution to cater to the generation.
Among the major learnings which surfaced from the study were that: “Millennials value work-life balance, and the majority of them are unwilling to commit to making their work lives an exclusive priority, even with the promise of substantial compensation later on”, and that “Millennials want more flexibility, the opportunity to shift hours — to start their work days later, for example, or put in time at night, if necessary.” Likewise, they also “place a high priority on workplace culture and desire a work environment that emphasises teamwork and a sense of community”.
“Given the importance of the contingent workforce now and in the future, organisations must understand how they can address the needs of millennials, who want greater flexibility in their schedules and career progression, while meeting the needs of the business,” stressed the study. “Leveraging Millennials as contingent workers will provide organisations better control over variable costs, and enable a more flexible, dynamic workforce that is able to scale up or down to meet the changing needs of the organisation,” it added.
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