This PwC report explores the differences between what motivates and satisfies Millennial workers compared to other generations of workers, finding that where Generation X values control over work, development opportunities and pay satisfaction, Millennials are driven by the more social needs of flexibility, appreciation and team collaboration. It emphasises that this upcoming generation cannot simply by moulded into the model that has worked in the past, and instead recommends a traditional human capital approach, implementing new policies, and looking at alternative, more sustainable business model options to address the shifting needs of the workforce.
The report sets out some key recommendations for organisations to consider including examples of how PwC has been addressing these same issues. These include (1) creating a more flexible environment; (2) fully leveraging technology; (3) creating innovative programmes around compensation, rewards and career decisions; (4) building a sense of community; (5) introducing or accelerating global mobility programmes; and (6) evaluating contingent workforce strategies.