After all, many of them will soon be filling crucial roles in the incoming administration.
While the opinions of 250 such individuals can’t be extrapolated too far and wide, the results of the online survey did suggest that, at least for these D.C. millennials, money is a much greater motivator than work-life balance or opportunities to move up the ladder. Therefore, the human resources managers working for whoever gets elected best be ready to cut some healthy checks.
The survey results can be found in Eagle Hill’s report, “Ping Pong Tables and Flex Schedules: The Surprising Preferences of D.C. Millennials.” As noted in the accompanying press release, the input is at odds with much that has been written about millennials and their desire for perks at work and lots of scheduling flexibility.
“These findings mark an important shift in the priorities and preferences of this younger generation,” says Melissa Jezior, Eagle Hill's president and chief executive officer. “It's no longer all about job perks like free snacks, massages and napping rooms as this generation begins to age.”
For instance, this survey from Workboard insisted that money ranked well below other factors, such as having strong mentors and flexibile work arrangements. “Surprisingly, twentysomethings equate job satisfaction with good benefits and doing what they love. Money is not their first — or even their second — priority,” the report says.
The Harvard Business Review, in “dispelling” myths about millennials, cited several studies to make its case that work-life balance was the key to retaining these job-hopping youngsters. This Inc. article made essentially the same case — give millennials work-life balance if you want to hire and retain them.
That’s not what Eagle Hill found. Based on the responses of just Washington, D.C. participants, these were the major results of the survey:
- D.C. area millennials place a higher priority on financial security than other work-life benefits. “When asked to rank financial security against other ‘traditional’ aspects of work-life balance, millennials chose financial security (33 percent) as their top priority — above other factors like hours worked (19 percent), schedule flexibility (19 percent) and ability to work from home (6 percent),” Eagle Hill reports. They’ll choose making more money over getting from time off from work — 80 percent said they’d rather keep nose to the grindstone and make more dough rather than time time off.
- The importance of work-life balance is decreasing across the workforce. “When asked to identify aspects of their job that are important to overall job success, the number of Washington, D.C area respondents who ranked work-life balance as ‘very important’ decreased from 2014 to 2016 — from 70 percent to 51 percent for millennials, and from 63 percent to 55 percent of non-millennials,” the report stated. This may be because employers have responded to the request for better balance between personal and work lives, Eagle Hill noted. But it could also mean that the next President will have workaholics on their hands.
- Non-millennials in the nation's capital are less satisfied with work-life balance. “The number of non-millennials who are dissatisfied with their work-life balance is more than double that of millennials,” Eagle Hill said. While 14 percent of non-millennials said they don’t enjoy a good work-life balance, only 6 percent of millennials expressed that view.