BOULDER, Colo.–As part of the continuing evolution in what motivates different generations to work, a new survey has found that 70% of Millennials said the desire to travel is the primary reason to work.
The survey, from FlexJobs, found that answer was second only to paying for basic necessities (88%) when Millennials were asked why they hold a job.
For Gen X, respondents ranked travel (60%) as the fourth most important reason for working, and Boomers ranked travel (47%) fifth in importance. Fifteen percent of Millennials in the survey were identified as “digital nomads/travelers,” compared to 11% of Gen X and 8% of Boomers.
While work-life balance, workplace flexibility, and salary are the top three factors the three generations consider when evaluating a job prospect, rankings vary, according to the FlexJobs survey.
The survey also found that 82% of Millennials cite work flexibility as a factor compared to 81% of Gen X and 79% of Boomers. Work schedule was also more important to Millennials (65%), whereas only 57% of Gen X and 62% Boomers said it was a consideration.
Sara Sutton Fell, founder and CEO of FlexJobs, suggested that “offering Millennials work flexibility isn’t just a strategy to avoid negative consequences like losing talent—employers have a lot to gain by modifying their strict, traditional, office-based model of working.”
Other findings in the FlexJobs survey include:
- Work-life balance (84%) was ranked the most important factor when evaluating a job prospect.
- Work flexibility came in as the second most important factor (82%), and salary ranked third (80%), all ranked well above other factors such as health insurance (48%), company reputation (45%), and 401(k)/retirement benefits (36%)
- 34% have actually left a job because it did not have work flexibility
- 14% have considered leaving a job because it did not have work flexibility
- 24% are currently looking for a new job because of work flexibility issues
Workstyle Reasons Millennials Are Interested in Work Flexibility
Work flexibility appeals to different groups within the generation.
- Millennials identified primarily with the following groups: working parents (40%), freelancers (26%), introverts (30%), entrepreneurs (18%), students (17%) and digital nomads (15%)
- Millennials interested in work flexibility are highly educated and experienced workers. 74% of respondents have a college or graduate degree and 20% are already manager level or higher.
Employer Benefits
Millennials report being willing to make bottom-line saving sacrifices in exchange for telecommuting options:
- 35% of respondents said they would take a 10% or 20% cut in pay
- 27% are willing to forfeit vacation time
- 22% would be willing to work more hours
- 82% of respondents also say they would be more loyal to their employers if they had flexible work options
- 60% of Millennials think they would be more productive at home vs. an office
Generational Differences
According to FlexJobs, while Millennials tend to be associated with freelance work more so than other generations, these results showed they were less inclined: only 42% of Millennials were open to freelancing as a flexible work arrangement.
- Millennials report “needing and wanting to work” versus just “needing to work” at a higher rate (71%) than Gen X (65%) and Boomers (66%).
- Millennials report being required to be at the office to work at a much higher rate (34%) than Gen X (26%) and Boomers (19%).
- At the same time, Millennials show a stronger preference for working at a coffee shop, co-working space, library, or other place besides the office (11%) compared to Gen X (8%) and Boomers (6%).