Software Professionals: How well do you know your Millennials?
Who Are the Millennials?
Millennials are generally defined as people born between 1981 and 1999.
What percentage of the US workforce is Millennial?
Answer: About 38% – larger than Boomers or GenX @ 31%. Expected to be 50% by 2020 and up to 75% by 2025 (Gallup, How Millennials Want to Work and Live)
What percent of Millennials say their smartphone never leaves their side?
Answer: 87% (Zogby Analytics). This is a generation that expects to have access to what they want, when they want it.
How Satisfied Are They at Work?
What percent of Millennials report being either not engaged or actively disengaged?
Answer: According to PwC (Millennials at Work), 71%. Employee engagement is defined as the emotional commitment the employee has to the organization and its goals.
Which benefit do Millennials say they value most from employers?
Answer: Training & Development was the top choice, ranked first by 22% of respondents. Flexible working hours and cash bonuses were the next most popular choices. (PwC)
What percent of Millennials expect to stay in a job for less than 3 years?
Answer: According to Forbes Magazine, only 9% of Millennials expected this. With the average cost of replacing a Millennial employee estimated to be $15-20,000, this is a very costly statistic for businesses.
What percent of Millennials are “very satisfied” with the professional development opportunities at work?
Answer: 24%. This figure is higher for employees whose values are aligned with their organization, for employees who intend to remain for 5+ years, and for organizations in which there is a high level of cross-team collaboration. (Deloitte 2016 Millennial Survey)
What is the most preferred form of learning for Millennials?
Answer: All of the above. While data sources vary depending on the best type of learning for Millennials, one trend is clear: much more learning is taking place in small chunks at the point of need.
What About Software Developers?
What percent of software developers are estimated to be Millennials?
Answer: Approximately 75% – more than twice the percentage in the general population. This population is expected to increase as younger workers enter the job market. (Stack Overflow 2016 Developer Hiring Landscape)
What percent of developers say they are open to a new job opportunity?
Answer: A staggering 75.2% of developers say they are either actively looking, or open to a better job opportunity. Only 25% said they would not be interested in a new opportunity. (Stack Overflow 2017 Developer Survey)
Which factor is most important to developers as they assess potential new jobs?
Answer: Opportunities for professional development was ranked highest, followed by compensation and benefits, the office environment, the specific technologies, and commute time. (Stack Overflow 2017 Developer Survey)
The data tells a story of a population that thinks differently about the world of work than did previous generations.
a. Millennials are looking for more than just a paycheck. They want growth, development, and challenge. Most jobs are falling far short of the mark, and as a result, employers risk losing the workers that have the most in-demand skills.
b. Learning has also shifted. No longer is it dominated by instructor-led classroom training, but by learning approaches that are available on demand. Since Millennials (and increasingly, all of us) have grown accustomed to instant information, they increasingly expect on-demand training at work.
c. The time to develop your people is now. With over 250,000 unfilled IT jobs in the United States, recruiters are chomping at the bit to lure your software professionals away. Never has there been a more critical time to focus on development and retention than now.
For software professionals, Construx has developed a program that delivers what software developers want: relevant, high-quality, on demand learning, all within a framework of a software-specific professional development ladder.
We believe that we can make a positive impact on a software organization’s employee engagement, employee retention, and software project success – all in a way that aligns to the way today’s software employees want to learn. Contact us today at firstname.lastname@example.org to learn about our OnDemand Professional Development Program for Software Professionals.
1. Gallup Survey: http://www.gallup.com/businessjournal/195209/few-millennials-engaged-work.aspx
2. Zogby Analytics study: https://www.miteksystems.com/sites/default/files/Documents/zogby_final_embargo_14_9_25.pdf
3. PwC Millennials at Work study: https://www.pwc.com/m1/en/services/consulting/documents/millennials-at-work.pdf
4. Ibid, p. 14
6. The 2016 Deloitte Millennial Survey: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-millenial-survey-2016-exec-summary.pdf
7. Various sources
8. Stack Overflow Developer Hiring Landscape: https://www.stackoverflowbusiness.com/blog/the-2016-stack-overflow-developer-hiring-landscape
9. Stack Overflow 2017 Developer Survey: https://stackoverflow.com/insights/survey/2017#looking-for-a-job