India is a young country with almost 65 percent of the population within the age group of 25-35 years who are millennials. According to a report by KPMG - “Meet the Millennials”, it reveals that millennials are the first generation to use the word “fun” to describe their dream job. They appreciate flexible work culture and are open to honest communication. Work pressure and hectic schedules in private sectors have further resulted in changing the perception of millennials to start a business of their own or are inclining towards opting for freelance work. Millennials are significant contributors to give a boost to the trend, gig culture. They are open to explore the concept of freelancing as it widens up the opportunity of flexibility and convenience while working.
Millennials career aspirations, attitude towards work, and knowledge of new technologies are redefining the workplace culture today. According to a report by PwC - “Millennials at work, reshaping the workplace” reveals that millennials already form 25% of the workforce in the US and account for over half of the population in India. By 2020, millennials will constitute 50% of the global workforce. Younger workers are defined by their optimism and energy and they believe that they can achieve anything with the right focus and access to learning. Millennials are intensely ambitious and are looking for rapid career progression.
Few of the significant factors that make millennials think apart from Gen Z and X are:
Millennials believe in constant learning: Millennials believe in continuous learning. As they enter the workplace, they spend a high proportion of their time gaining new experiences and absorbing new information. They relish the opportunity to engage, interact and learn from senior management.
Inclined towards global careers: Millennials have a strong appetite for working abroad. According to PwC report, 71% expect and want to do an overseas assignment during their career.
Work-life balance is utmost important: The work/life balance has always been a priority for millennials. They are prepared to be more practical when it comes to accepting a job offer and are clear in their thoughts of maintaining the right balance between professional and personal life goals.
Millennials want flexibility: Millennials in India are getting more inclined towards job satisfaction rather than any other parameter while choosing a perfect job for themselves. Career mobility, hyper-connectivity, flexible work dynamics are few of the important factors being appreciated by this generation. They prioritize work-life balance.
Millennials want to talk business: Millennials are anxious and love to see a bigger picture. They are honest and open in communication and wants to analyze what value they are bringing on the table. Their out of the box approach and proper planning and execution methodology give them an edge to start a business of their own.
Millennials do not want to compromise: Millennials are tech-savvy generation and crave for knowledge. They are motivated and look forward to have a healthy and friendly work environment. They are risk takers and are open to bring honest communication on the table. Millennials do not settle down on compromises, rather try to maintain a smart blend of professional and soft skills.
Therefore, millennials today are opportunist and look for recognition. They are intellectual and believe in the power of constant learning and career development. Millennials in India are getting more inclined towards job satisfaction rather than any other parameter while choosing a perfect job for themselves. Career mobility, hyper-connectivity, flexible work dynamics, global career opportunities play a crucial role in shaping up their professional work dynamics further giving them the opportunity to even pursue freelancing or starting a new business of their own.