With Four Generations in the Workplace, New National Study Reveals Surprising Realities As Technology Influences Employee Behavior and Performance
Date: February 17, 2015 4:01 PM EDT
Ultimate Software (Nasdaq: ULTI), a cloud provider of people management solutions, announced today the results of a new national study revealing how the expectations of employees in the workforce are changing in relation to business software. This is a direct result of the rising adoption of mobile and social technologies as well the influx of a new generation in the workforce: Millennials.
The survey, a joint venture between Ultimate Software and The Center for Generational Kinetics, was taken by more than 1,000 respondents over the age of 18 across the U.S. who are employed or looking to be employed. The results of the survey revealed surprising preferences and differences in job seekers and employees that have the potential to dramatically alter the corporate work environment.
“We are seeing the pervasiveness of consumer mobile and social platforms completely alter the corporate business environment,” said Adam Rogers, chief technology officer at Ultimate Software. “The workforce is changing. In the next couple of years, for the first time ever, there will be more ‘Gen Y’ or Millennial workers in the workforce than any other generation. Employers need to keep up if they’re going to make the most of this new generation—by knowing what these emerging workers expect and demand from their employers in order to accept a job and stay at a job. What the study found was employers must make sure the systems they use for things like recruiting, payroll, benefits, and time tracking match actual employee expectations by generation.”
As Millennials increasingly have a larger impact on corporate environments, technology is fast becoming the number one tool that divides or bridges generations. Rogers said the research proves that it is vital for companies to understand and adapt to these generational differences and expectations now if they expect to remain competitive. Some of the surprising findings include:
- Companies have less time than ever to attract new talent: 2 out of every 5 applicants are unwilling to spend more than one minute reviewing a job description. Companies also need to act on the importance of mobile: 43% of Millennials think that they should be able to apply for a job on a tablet, and 39% expect to be able to apply for a job on a smartphone.
- Loyalty is determined within days, not years: One-third (33%) of employees knew whether they would stay at their company long-term after being on the job for one week or less; 63% had decided within the first month.
- Transparency and communications are vital: 73% of all employees want to know why they were selected over other candidates. Once hired, 42% of Millennials want weekly feedback on their performance. Moreover, nearly half (45%) said they would quit their job if they didn’t see a career path that they wanted at the company.
“There are some important differences between Millennials and other generations, but the most important thing we learned is overall adoption of consumer mobile and social technologies is changing the expectations of the entire workforce, regardless of age,” said Rogers. “For example, employees across all generations now have the expectation that HR and payroll systems are extremely fast and efficient. They don’t expect to be asked to enter the same piece of information more than once, and they expect the system to be as easy to navigate as a consumer application. This has implications for everything from recruiting and onboarding to talent development and retention.”
“Millennials are the first generation in the workforce that have come of age dependent on mobile and social technology,” said Jason Dorsey, Millennials researcher, chief strategy officer at The Center for Generational Kinetics, and a bestselling Millennial author. “As a result, they bring a different relationship with technology into the workplace. They are used to a fast-paced and on-demand environment. As a result they are causing a major shift in the expectations of HCM technology. What Millennials want or expect is now rippling across all generations of employees, creating never-before-seen challenges and opportunities for even the most experienced executive, HR practitioner, and manager. The businesses that will win in this new workforce reality will be the ones that adopt the latest technology systems for recruiting, HR, payroll, and talent management to attract and retain these workers.”
Adam Rogers and Jason Dorsey will be hosting a live webcast on Wednesday, February 25th at 2:00pm Eastern time to speak in detail about the study’s results and actions leaders can take now. They will also be sharing ideas about what experienced managers can do to address generational challenges to improve recruiting, retention, communication, and more. To join the live webcast or to learn more, please visit the link provided. http://www.ultimatesoftware.com/Contact/5-ways-to-get-the-most-out-of-your-millennial-employees
About the Research
The Ultimate Software Workplace Study was conducted in collaboration with The Center for Generational Kinetics and Kelton Global in November 2014. The sample size included over 1,000 respondents 18 years and over in the U.S. who were either employed or currently looking to be employed. The margin of error was +/-3.1 percent. To view the results of the survey, please click on the link provided:
About The Center for Generational Kinetics
The Center for Generational Kinetics solves tough generational challenges through research and strategy. Our passion is uncovering new generational trends and truths that leaders can use immediately. We apply our deep expertise to the research findings to devise new solutions for unlocking the value of every generation of customers and employees. Our clients range from the biggest brands in the world to venture-backed startups. Known for our cutting-edge work on Millennials and Generation Y, The Center’s team has been featured on 60 Minutes, The Early Show, in The New York Times, and dozens more. Learn more about our Millennials research and strategy at www.genhq.com.
About Ultimate Software
Ultimate is a leading cloud provider of people management solutions, with more than 19 million people records in the cloud. Ultimate’s award-winning UltiPro delivers HR, payroll, talent, and time and labor management solutions that connect people with the information they need to work more effectively. Founded in 1990, the company is headquartered in Weston, Florida, and employs more than 2,300 professionals. In 2015, for the third year in a row, Ultimate was recognized as one of Achievers’ 50 Most Engaged Workplaces™ in North America. In 2014, Ultimate was ranked #20 on FORTUNE’s list of the 100 Best Companies to Work For; ranked #8 on Forbes magazine’s list of the 100 Most Innovative Growth Companies; and recognized as a ‘Leader’ in Nucleus Research’s HCM Technology Value Matrix. Ultimate has more than 2,800 customers with employees in 150 countries, including Bloomin’ Brands, Culligan International, Major League Baseball, Pep Boys, Texas Roadhouse, and Yamaha Corporation of America. More information on Ultimate’s products and services for people management can be found at www.ultimatesoftware.com.
UltiPro is a registered trademark of The Ultimate Software Group, Inc. All other trademarks referenced are the property of their respective owners.
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Darlene Marcroft, Vice President of PR and Communications at Ultimate Software
phone: 954-331-7444; email: [email protected]
For sales information, phone: 800-432-1729; website: www.ultimatesoftware.com