New Generation, Great Expectations: A Field Study of the Millennial Generation

• Published in: Journal of business and psychology 2010-06, Vol.25 (2), p.281-292
• Main Authors: Ng, Eddy S. W., Schweitzer, Linda, Lyons, Sean T.
• Format: Article
• Language: English
• Subjects: Baby boomers; Behavioral Science and Psychology; Business and Management; Business management; Career development planning; Careers; College students; Community and Environmental Psychology; Councils; Demography; Employers; Employment; Field study; Generations; Grade point average; Industrial and Organizational Psychology; Men; Millennial generation; Millennials; Multivariate analysis; Occupational psychology; Perceptions; Personality and Social Psychology; Psychological aspects; Psychology; Raises; Salary; Social responsibility; Social Sciences; Statistical variance; Studies; University students; Values; Workplaces
• ISSN: 0889-3268; 1573-353X
• DOI: 10.1007/s10869-010-9159-4

Purpose This study investigated the career expectations and priorities of members of the "millennial" generation (born in or after 1980) and explored differences among this cohort related to demographic factors (i. e., gender, race, and year of study) and academic performance. Design/Methodology/Approach Data were obtained from a national survey of millennial undergraduate university students from across Canada (N = 23,413). Data were analyzed using various multivariate techniques to assess the impacts of demographic variables and academic achievement on career expectations and priorities. Findings Millennial placed the greatest importance on individualistic aspects of a job. They had realistic expectations of their first job and salary but were seeking rapid advancement and the development of new skills, while also ensuring a meaningful and satisfying life outside of work. Our results suggest that Millennials' expectations and values vary by gender, visible minority status, GPA, and year of study, but these variables explain only a small proportion of variance. Implications Changing North American demographics have created a crisis in organizations as they strive to recruit and retain the millennial generation, who purportedly hold values, attitudes, and expectations that are significantly different from those of the generations of workers that preceded them. A better understanding of the Millennials' career expectations and priorities helps employers to create job offerings and work environments that are more likely to engage and retain millennial workers. Originality/Value This is a large-sample study that provides benchmark results for the millennial generation, which can be compared to results from other generational cohorts, and to millennial cohorts in the future as they progress through their life-cycle. This is one of the few studies that examines demographic heterogeneity within the millennial cohort.