Study on what motivates and makes Millennials happy at work, with an eye towards the future of work and thought leadership models for what's next and how to capitalize on this game-changing generational cohort in the workforce today and in the future.
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Future of Work: Work Happiness Study with Levo Institute 2017
1. WORK&HAPPINESS
evo nstit te nsights
Millennial Em loyee a iness e ort
LEVO
INSTITUTE
Alisa Leonard
alisa@hello-q.com
2. WHAT’S INSIDE
LEVO
INSTITUTE
EXECUTIVE SUMMARY
Overview of findings and key highlights1.
DIGGING DEEPER
Findings In Context: Millennial Insights & Macro Trends2.
KEY TAKE-AWAYS & POV
Our point of view on work & happiness3.
3. LEVO
INSTITUTE
WE SURVEYED THE LEVO COMMUNITY
WITH SIX (6) KEY QUESTIONS:
BACKGROUND
nderstand key drivers of employee happiness and satisfaction
How would you rate your happiness level at work?
Do you make efforts to improve your happiness and satisfaction?
What is most important to you?
Which of the following do you expect your employer to provide?
What do you think is the ideal average tenure at one company?
In what range, on average, do you think your employer should
realistically compensate employees?
1
2
3
4
5
6
METHODOLOGY
Cross-sectional survey (closed ques-
tions, point-in-time) utilizing a mix
of multiple choice, scale rating and
attitudinal scale response. Data is
interrogated and weighted for au-
dience relevancy (e.g. eliminating
non-Millennial respondents).
We contextualized our findings
in this report with additional data
points, insights and thinking from
our research and thought lea-
dership in the field, in order to pro-
vide a broader perspective to our
findings.
Respondents: 1,100
5. LEVO
INSTITUTE
EXECUTIVE SUMMARY: RESPONDENT OVERVIEW
AGE
22-33
have been
employed for
5+ years
ETHNICITY
67%
11%
9%
white
black /
african american
hispanic / latino
Over 46% of Millennial women are already mothers, and
72% of Millennial women are primary or sole household
breadwinner - PEW
IN CONTEXT
EMPLOYMENT
GENDER
93%
female
62%
6. LEVO
INSTITUTE
EXECUTIVE SUMMARY: TOP FINDINGS & INSIGHTS
YES - I tell my employer what I think they need to do to improve employee morale
YES - I identify technological and resource needs & take steps for my employer to provide them
NO - It’s not my employer’s job to make me happy; I must find happiness on my own
NO - I assume that I have all the resources necessary to happily & effectively do my job
NO - I don’t recognize or request the need for expensive, new technologies
YES - I listen to my boss’s constructive criticism an take steps to improve 69%
23%
2%
48%
39%
13%
1
2
3
4
5
6
58% Claim they are somewhat to very happy at work,
while 42% claim to be somewhat to very unhappy.
69% claim to make efforts to improve their happiness
by listening to feedback and taking steps to improve
HAPPINESS
Millennials are generally
happy at work, and take
initiative to improve their
happiness & satisfaction.
58% 42%
HAPPY
UNHAPPY
7. LEVO
INSTITUTE
EXECUTIVE SUMMARY: TOP FINDINGS & INSIGHTS
Cultural perks (work from home, casual dress, free food & beverages, etc.)
General mood while at work
Productivity level
Work-life balance
Pay / Pay increases
Helpful & supportive boss
Rewards & recognition
Performance review results
Tenure
Do not actively measure workplace happiness & satisfaction
New opportunities to contribute and participate
Learning & skill development opportunities 74%
63%
68%
35%
72%
57%
68%
5%
71%
52%
68%
0%
1
2
3
4
5
6
7
8
9
10
11
12
LEARNING & GROWTH
IS KEY TO HAPPINESS
How do you measure
your happiness at work?
74% of respondents rate Learning & Skill Develop-
ment Opportunities as prime metric for at-work hap-
piness and satisfaction, followed closely by Work-Life
Balance (72%) and General Mood at work (71%)
74%
8. LEVO
INSTITUTE
EXECUTIVE SUMMARY: TOP FINDINGS & INSIGHTS
WHAT IS MOST
IMPORTANT?
Money matters, but so does
balance & workplace culture
Contrary to popular opinion that Millennials don’t care about salary,
85% rated Salary as the top most important job factor, followed by
Work Life Balance (78%) and Workplace Culture (76%)
85%
O NO E: 72% of Millennial women who are married and/or have children
are their household’s sole or primary breadwinner
45%
9. LEVO
INSTITUTE
EXECUTIVE SUMMARY: TOP FINDINGS & INSIGHTS
EMPLOYER
EXPECTATIONS &
RESPONSIBILITES
What do you expect
your employer to provide?
expect employers to
provide health insurance
88%
expect employers to provide
opportunities for career growth
and training opportunities
79%
expect a safe working
environment free of any
form of harassment
84%
expect employers to
provide a 401k
77%
10. LEVO
INSTITUTE
EXECUTIVE SUMMARY: TOP FINDINGS & INSIGHTS
WHAT DO YOU THINK
IS THE IDEAL AVERAGE
TENURE AT
ONE COMPANY?
40% of respondents claimed 3-4 years is the ideal length of time to
be with one company.
Our hypothesis is that this might, in part, be due to how learning and
growth-oriented Millennials are. We have been educated in 4-year
cycles, and generally can count on our growth within those years.
4 year job cycles,
just like school
40%
11. LEVO
INSTITUTE
EXECUTIVE SUMMARY: TOP FINDINGS & INSIGHTS
COMPENSATION
EXPECTATIONS
In what range, on average,
do you think your employer should
realistically compensate employees?
believe employers should
compensate employees – 0-25% above
average market value
54%
believe employers should
compensate employees at
average market value
34%
12. LEVO
INSTITUTE
EXECUTIVE SUMMARY: ADDITIONAL CONTEXT
54% have access to mentors & re-
sources to navigate career.
Only 21% have these resources
provided by their employer.
One of the biggest insights from
our 2017 Millennial Economy sur-
vey is that Millennials recognize
the importance of emotional intel-
ligence as a key to career growth.
Our POV is that as Millennials learn
to develop EQ, and he workforce in
general becomes a place that fos-
ters emotional intelligence, work
place happiness will naturally in-
crease.
52% of Millennial women asked
for / attempted to negotiate a raise
in the first five years of their em-
ployment.
However, 63% did NOT receive the
raise they asked for.
78% claim they do not feel confi-
dent in salary negotiations.
When we are looking at happiness
levels at work, we would be remiss
to ignore a potential correlation
between financial compensation,
rejection and confidence challen-
ges many Millennial women face.
80% OF MILLENNIALS
BELIEVE DEVELOPING
EMOTIONAL INTELLIGENCE
IS KEY TO CAREER GROWTH
78% OF MILLENNIALS ARE
WITHOUT EMPLOYER-PROVIDED
MENTORS / RESOURCES FOR
CAREER GROWTH
MILLENNIAL WOMEN
ARE ASKING FOR MORE
AT WORK, BUT NOT
SEEING RESULTS
From our 2017 Millennial Economy Survey From our 2017 #Ask4More Survey From our 2017 #Ask4More Survey
13. LEVO
INSTITUTE
EXECUTIVE SUMMARY: KEY TAKE-AWAYS
Millennials are the Purpose-Driven Generation, their happiness
and satisfaction with work are impacted by 4 core categories of needs:
85% rated Salary as the top most
important job factor.
-
cally during our #Breadwinners
Project, 94% desired annual pay
parity audits.
88% of employees expect health
insurance from their employers.
84% expect a safe work environ-
ment free of any form of harass-
ment.
After salary, 78% of employees
rate work-life balance as impor-
tant to happiness.
76% rate workplace culture as
important to happiness.
80% of respondents cite Lear-
ning & Skill Building as key me-
tric for measuring their happiness
and satisfaction at work.
68% cite Rewards & Recognition.
MONEY &
PAY PARITY
HEALTH INSURANCE & SAFE
WORK ENVIRONMENT
WORK-LIFE BALANCE &
WORKPLACE CULTURE
LEARNING & SKILL
DEVELOPMENT
FUNCTIONAL SAFETY EMOTIONAL ESTEEM
15. WELCOME TO THE MILLENNIAL ECONOMY™
LEVO
INSTITUTE
“The Millennial Economy, as we define it,
is an economic and social model in which ongoing
«value shifts»— cycles of disruption, innovation
and transcendence of current norms—will radically
reshape the future of work, business and life.
We are living this radical reshaping right now,
and it is being driven by Millennials.”
— Alisa Leonard, President, Levo Institute
16. LEVO
INSTITUTE
EMPLOYEE HAPPINESS ARCHETYPES: MILLENNIAL PERSONAS
MOTIVATION:
- Finding freedom & ability to carve one’s
path / balance home & work.
- Sense of responsibility to self, home
and family weighted against career.
MEASURES OF SUCCESS:
- Flexibility & doing good work that pro-
vides a life they want.
RISKS:
- Retention may be a challenge if work-
place culture and flexibility are not prio-
ritized.
MOTIVATION:
- Feels sense of purpose and identity
from work.
- Self-esteem is heavily tied to career
and advancement outcomes.
MEASURES OF SUCCESS:
- Productivity & rewards / recognition /
making an impact.
RISKS:
- At-risk for burnout and anxiety if clear
path forward and feedback loop are not
prioritized.
MOTIVATION:
Living life on their terms; a particular
job or job title is not the where they find
a sense of self.
Career is a vehicle for self-actualization
and growth.
MEASURES OF SUCCESS:
- Freedom and autonomy with career
and life.
RISKS:
- Retention may be a challenge if growth
opportunities and autonomy are not
prioritized.
THE ALL-IN THE BALANCER THE INDEPENDENT
17. LEVO
INSTITUTE
IN FOCUS: MILLENNIAL EMPLOYEE HAPPINESS & SATISFACTION
MONEY MATTERS
As many Millennial women are the primary or sole
breadwinner in their household (with at least one de-
pendent), issues of compensation and pay parity are
extremely important to this generation.
70% of Millennials have some form of student loan
debt (Experian 2015).
Debt can act as a stressor and affect not only work satis-
faction, but overall happiness levels.
72% OF MILLENNIAL WOMEN
ARE PRIMARY OR SOLE
HOUSEHOLD BREADWINNERS
MILLENNIALS & DEBT: A KEY FACTOR
IN THE WORK-HAPPINESS EQUATION
PEW / 2016 #Breadwinners Project
18. KEY TAKE-AWAYS & POV
LEVO
INSTITUTE
Our point of view on work & happiness
3.
19. KEY TAKE-AWAYS
LEVO
INSTITUTE
Millennials are generally happy at work,
and take initiative to improve their hap-
piness & satisfaction.
58% Claim they are very or somewhat
happy at work, while 42% claim to be
somewhat to very unhappy.
69% claim to make efforts to improve
their happiness by listening to feedback
and taking steps to improve.
74% of respondents rate Learning &
Skill Development Opportunities as a
prime metric of measuring at-work hap-
piness and satisfaction, followed closely
by Work-Life Balance (72%) and General
Mood at work (71%).
Contrary to popular opinion that Millen-
nials don’t care about salary, 85%
rated Salary as the top most important
job factor, followed by Work Life Balance
(78%) and Workplace Culture (76%).
IMPORTANT NOTE: 72%of Millennial
women who are married and/or have
children are their household’s sole or pri-
mary breadwinner - PEW
LEARNING & GROWTH
IS KEY TO HAPPINESS
What factors are most important to
your happiness at work?
MONEY MATTERS, BUT
SO DOES BALANCE &
WORKPLACE CULTURE
What is most important to you?
HAPPINESS
How would you rate your happiness level
at work? Do you make efforts to improve
your happiness and satisfaction?
20. KEY TAKE-AWAYS
LEVO
INSTITUTE
88% expect employers to provide
health insurance.
84% expect a safe working environ-
ment free of any form of harassment.
79% expect employers to provide op-
portunities for career growth and training
opportunities.
77% expect employers to provide a
401k.
40%of respondents claimed 3-4 years
is the ideal length of time to be with one
company.
Our hypothesis is that this might, in part,
be due to how learning and growth-
oriented Millennials are. We have been
educated in 4-year cycles, and generally
can count on our growth within those
years.
54% believe employers should com-
pensate employees – 0-25% above
average market value.
34% believe employers should com-
pensate employees at average market
value.
4 YEAR JOB CYCLES,
JUST LIKE SCHOOL
What do you think is the ideal average
tenure at one company?
COMPENSATION
EXPECTATIONS
In what range, on average, do you think
your employer should realistically
compensate employees?
EMPLOYER
EXPECTATIONS &
RESPONSIBILITES
What do you expect your employer
to provide?
21. OUR POV
LEVO
INSTITUTE
«The future of work and employee happiness is rooted
in human-centered design. For business to adapt and thrive in
the Millennial Economy, they must embrace and apply
human-centered design principles to how they operate.
If companies want to engage and retain Millennials, they have
to think about their operations, culture, policies and
environments as a ‘people operating system.’
This means developing an ‘operational UX’ designed
to foster human growth and unlock potential.»
— Alisa Leonard, President, Levo Institute
22. OUR POV: MILLENNIALS HAVE A DISTINCT HIERARCHY OF NEEDS AT WORK
LEVO
INSTITUTE
SELF-TRANSCENDENCE
GIVE BACKGROWTH
ESTEEM & SOCIAL IMPACT
LIFE CHANGING
EMOTIONAL
FUNCTIONAL
LEADERSHIP PURPOSE & MOTIVATION COMMUNITY / BELONGING PROVIDE
ACCESS
REWARDS ME DESIGN/
AESTHETICS
PRODUCTIVITY WELLNESS WORK-LIFE
BALANCE
WORKPLACE CULTURE
MAKE MONEY
FOSTERS
COLLABORATION VARIETY
SENSORY
APPEAL INFORMS
INTEGRATES PHYSICAL & EMOTIONAL
SAFETY
CONNECTS
23. LEVO
INSTITUTE
OUR POV: THE FUTURE OF WORK & HAPPINESS IS HUMAN-CENTERED
DESIGN TO MEET THOSE NEEDS
DATA-DR
IVEN INSIGHTS TALENTMIX
M
ODELS
MENTORSH
IP
PROG
RAMMING
SKILLS,
TALENTS &
RESPONSIBILITY
MAPPING
HUMAN-CENTERED
OPERATIONAL
CULTURE
DYNAMIC
OPPORTUNITIES
& GROWTH
ADVANCEMENT
&
BALANCE
ENGAGEMENT
&
LEARNING
24. OUR POV
LEVO
INSTITUTE
The future of work, culture, innovation and community
is rooted in systems that support, grow and empower
inclusion and diversity.
Millennial women will play a key role in driving in-
clusion and diversity at the organizational level and
over-index on valuing collaborative, inclusive environ-
ments more than any other cohort.
THE FUTURE IS
DIVERSE & INCLUSIVE
MILLENNIAL WOMEN WILL PLAY A
UNIQUE ROLE CREATING THIS FUTURE