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Millennials are people born between 1981 and 1996, and are also known as Generation Y. The term was first used in the 1991 book “Generations” by William Strauss and Neil Howe, who named the generation after it being the first to come of age in the new millennium.
In 2024 Millennials are all adults now. What are their work habits and preferred jobs? How are they behaving in workplaces they share with other Millennials and members of other generations?
Are they happy at work or do they strive for more?
Find out in my updated Millennials in workplace statistics and facts guide for 2024.
You can use this jump link to quickly jump to the KEY STATS section.
Also, all the references and resources I used in crafting my guide are listed at the bottom of the page.
Jump here: Key Millennials in the Workplace Statistics, Facts and Trends for this Year| Detailed Millennials in the Workplace Statistics, Facts and Trends for this Year
Table of Contents
Key Millennials in the Workplace Statistics, Facts and Trends for this Year
Key Millennials in the Workplace Statistics, Facts and Trends for 2024
- By 2025, millennials are projected to make up 75% of the global workforce. By 2032 millennials will make up 66% of the global workforce. This decrease in percentage will happen because older Gen Zs will begin to get jobs and join the workforce. (Source)
- Millennials occupy 69% of the US labor force. (Source)
- When surveyed, 64% of millennials said they prioritize work-life balance over salary. This suggests startups with crazy work hours are not ideal workplace for most millennials. Only 16% of millennials work 51 hours or more per week. (Source)
- 87% of millennials rate professional development opportunities as important in a job. 93% of millennials expect and want lifelong learning opportunities from their employers. (Source)
- 50% of millennials would take a pay cut to work for a company that aligns with their values. (Source)
- The average millennial expects to stay at a job for less than 3 years. This is because 76% of millennials believe job-hopping helps career advancement. However, 72% of millennials want to become their own boss eventually. That said, 69% of millennials feel their leadership skills are not being fully developed. (Source)
- 75% of millennials believe remote work options improve work-life balance. These Millennials had the opportunity to get acquainted with the benefits of remote work during the COVID pandemic lockdown. 40% of millennials prefer virtual communication over face-to-face meetings. (Source)
- 74% of millennials prefer digital collaboration tools over traditional methods. Again, it’s because of COVID that these digital collab tools and apps became popular, and have stayed popular since. (Source)
- 67% of millennials believe technology improves workplace productivity. For example, 45% of millennials prioritize flexibility in work hours and it’s technology that allows for that flexibility to happen. (Source)
- 61% of millennials feel pressure to be available outside of work hours. This is one, rare downside to digital collaboration tools. They make you available pretty much anywhere. (Source)
- 66% of millennials expect employers to take a stance on social issues. 78% of millennials value purpose over profit in their career choices. 69% of millennials believe company culture is as important as salary and a huge 90% of millennials want their work to have a positive impact on society. (Source)
- 89% of millennials prefer a collaborative work culture over a competitive one. (Source)
- 82% of millennials prefer immediate recognition over formal reviews. They also value transparency from leadership and want to be praised when doing something right, and corrected when making mistakes. (Source)
- Immediately getting recognition for a job well done serves as a morale booster to these Millennials. Everyone loves getting praised for a job well done. (Source)
- 71% of millennials want meaningful connections with their coworkers regardless if their coworkers are older or younger.
- 83% of millennials want regular feedback from their employees rather than annual reviews. (Source)
- 56% of millennials won’t accept jobs from companies that ban social media. This stat shows that most millennials are so addicted to social media that they’re willing to refuse legitimate work because of their addiction. Of course, the two later generations (Gen Z and Gen Alpha) are even worse offenders here. (Source)
- 77% of millennials say mentorship programs are important for them to reskill and learn new skills. (Source)
- 88% of millennials prefer a collaborative work environment. (Source)
- The average annual salary of millennial workers is $71,566. (Source)
- 79% of millennials consider workplace diversity important. They don’t want to feel like they’re being pressured to be a certain way. Instead they want to contribute their unique best to the team and organization they work for. (Source)
- 91% of millennials desire health and wellness benefits at their workplace. (Source)
- 61% of millennial women take a break from work due to the birth of their child. (Source)
Detailed Millennials in the Workplace Statistics, Facts and Trends for this Year
What Percentage of the Global Workforce Comprises of Millennials?
By 2025, millennials are projected to make up 75% of the global workforce. By 2032 millennials will make up 66% of the global workforce.
This decrease in percentage will happen because older Gen Zs and even oldest Gen Alphas will begin to get jobs and join the workforce.
Are Millennial all about Working Hard? Or Do They Want to Have Work-Life Balance?
Millennial are now workaholics and they love to have work-life balance in their day-to-day lives.
In a recent survey (which I link in the reference section of this article) 64% of millennials said they prioritize work-life balance over salary. This stat suggests startups with crazy work hours are not ideal workplaces for most millennials.
Are Millennials Looking to Grow in Their Careers? Or are They Happy Staying in Their Current Positions Until Retirement?
Millennials are very much growth oriented and are constantly looking to upskill and reskill.
87% of millennials rate professional development opportunities as a crucial component of their work. 93% of millennials expect and want lifelong learning opportunities from their employers.
Here are some more stats about Millennials and their career mindset:
76% of millennials believe job-hopping helps career advancement. That why the average millennial stays at a job for fewer than 3 years.
72% of millennials want to become their own boss eventually and most of them feel like their leadership skills are not being fully developed in their current workplace.
Do Millennial Like Remote Work? Or Do They Prefer Sitting in Cubicles?
Millennials definitely don’t want to work from tiny cubicles or even small offices.
They’d rather work from home as it gives them plenty of work flexibility + it removes common workplace stressors (for example annoying co-workers).
A recent study showed that 75% of millennials believe remote work options improve work-life balance.
These Millennials had the opportunity to get acquainted with the benefits of remote work during the COVID pandemic lockdown and they don’t want to go back to traditional work settings.
Remote working during COVID also taught these Millennials that digital collaboration tools are vey helpful to getting work done efficiently.
The same study I mentioned above showed that a whopping 74% of millennials prefer digital collaboration tools over traditional methods.
Again, it’s because of COVID that these digital collab tools and apps became popular, and have stayed popular since.
Do Millennials Like to Work Outside or Work Hours?
Millennials don’t like to work outside of work hours. They like to have work-life balance and working outside regulars work time is not conducive to maintaining that balance.
A recent survey showed that 61% of millennials were pressured by their bosses to be available outside of work hours. And they had to strongly decline it thus risking their employment in the process.
Purpose or Profit? Which Do Millennials Value Best?
78% of millennials value purpose over profit in their career choices. 90% of millennials want their work to have a positive impact on society with 50% of millennials willing to accept lower pay just to work for a company that aligns with their core values and principles.
What Strategies Could Companies Employ to Satisfy the 66% of Millennials Expecting Employer Positions on Social Issues While Maintaining Workplace Harmony?
66% of millennials expect employers to take a stance on social issues. This stat shows that most Millennials are not amoral people only after high paychecks. A good percentage of them would refuse to work for an “evil” boss.
How Can Organizations Adapt Their Performance Review Systems to Accommodate the 82% of Millennials Preferring Immediate Recognition?
82% of millennials prefer immediate recognition over formal reviews
They also value transparency from leadership and want to be praised when doing something right, and corrected when making mistakes
Immediately getting recognition for a job well done serves as a morale booster for these Millennials.
Also worth noting is that 83% of millennials want regular feedback from their employees rather than annual reviews. This ties nicely with the stat I mentioned above that Millennials are constantly looking to upskill, reskill and generally advance in their career and knowledge anyway they can.
Near-instant feedback they receive from their bosses is invaluable here.
Do Millennials Value Workplace Diversity?
79% of millennials consider workplace diversity important.
They don’t want to feel like they’re being pressured to be or behave a certain way. Instead they want to contribute their unique best to the team and organization they work for. 71% of millennials emphasize they want meaningful connections with their coworkers regardless if their coworkers are older or younger them them.
Are Millennials Addicted to Social Media? Do They use Social Media Even at Work?
Millennials are addicted to social media. 56% of them won’t accept jobs from companies that ban social media
This stat shows that most millennials are so addicted to social media that they’re willing to refuse legitimate work because of their addiction.
Of course, the two later generations (Gen Z and Gen Alpha) are even worse offenders here.
Millennials in the Workplace: Statistics, Facts and Trends Guide for 2024 (FAQ)
What are Some Characteristics of Millennial Workers?
Millennial workers are tech-savvy, collaborative and and open to learning new things. They value constructive feedback, seek work-life balance and desiring recognition for their work. Most of them are happy to work for others as long as they can regularly upskill and potentially start their own business in the future.
How to Motivate Millennials to Work Harder? How to Increase Their Loyalty and Retain Them For Longer?
An average millennial quits after barely 3 years on the job but the best way to retain them for longer is to offer them plenty of work autonomy, upskilling opportunities and constructive feedback.
These are also the same ways to motivate millennials to work harder.
Do Millennials Like Working from Home?
Millennial like working from home. A recent study showed that 75% of Millennials prefer working from home to working in traditional work settings (offices and cubicles).
Millennials in the Workplace: Statistics, Facts and Trends Guide for 2024 (Conclusion)
My updated guide for 2024 lists the best and latest statistics, facts and trends about Millennials in the workplace and how they adapt to the work culture.
I hope you enjoyed it because the guide is now over.
During my research, I consulted these resources below:
References:
- Key statistics about Millennials in the workplace- https://teamstage.io/millennials-in-the-workplace-statistics/
- Key statistics about Millennials in the workplace- https://firstup.io/blog/key-statistics-millennials-in-the-workplace/
- 28+ Unbiased Millennials in the Workplace Statistics- https://goremotely.net/blog/millennials-in-the-workplace
- 20 Fascinating Millennials in the Workplace Statistics (2024)- https://fitsmallbusiness.com/millennials-in-the-workplace-statistics/
- Millennials in the labor force, projected 2019‒29- https://www.bls.gov/careeroutlook/2020/data-on-display/millennials-in-labor-force.htm
- Millennials: The Job-Hopping Generation- https://www.gallup.com/workplace/231587/millennials-job-hopping-generation.aspx
- Millennials are the largest generation in the U.S. labor force- https://www.pewresearch.org/short-reads/2018/04/11/millennials-largest-generation-us-labor-force/
- What Millennials Really Want in the Workplace- https://www.cbre.com/insights/articles/what-millennials-really-want-in-the-workplace
- Generational Differences in the Workplace [Infographic]- https://www.purdueglobal.edu/education-partnerships/generational-workforce-differences-infographic/
- Millennials and Gen Z in the workplace: same same but different?- https://www.deskbird.com/blog/millennials-gen-z-workplace
- Millennials in the Workplace- https://www.indeed.com/hire/c/info/millennials-in-the-workplace
- How Millennials Want to Work and Live- https://www.gallup.com/workplace/238073/millennials-work-live.aspx
- Navigating the New Workforce: Engaging Millennials and Gen Z in the Workplace- https://www.paychex.com/articles/human-resources/engaging-millennials-and-gen-z-in-the-workplace
- Millennials in the workplace: How to manage and engage them- https://resources.workable.com/stories-and-insights/millennials-in-the-workplace
- Millennials in the Workplace: 11 Ways to Attract and Keep Them- https://haiilo.com/blog/millennials-in-the-workplace-11-ways-to-attract-and-keep-them/
- The Radical Transformation of Diversity and Inclusion- The Millennial Influence- https://www2.deloitte.com/content/dam/Deloitte/us/Documents/about-deloitte/us-inclus-millennial-influence-120215.pdf
Nikola Roza
Nikola Roza is a blogger behind Nikola Roza- SEO for the Poor and Determined. He writes for bloggers who don't have huge marketing budget but still want to succeed. Nikola is passionate about precious metals IRAs and how to invest in gold and silver for a safer financial future. Learn about Nikola here.