Despite perceptions millennials are “entitled, disloyal, and lazy,” those in the construction industry are very dedicated and loyal to their companies and have career aspirations, attitudes, and goals similar to those of baby boomers and Gen Xers, Sabine Hoover, content director for FMI Corp., provider of investment banking and management consulting services for the engineering and construction industry, said.
FMI recently announced the release of a report titled “Millennials in Construction: Learning to Engage a New Workforce,” based on a combination of survey responses from and interviews with nearly 400 individuals nationwide who work in the construction industry, half of whom represent millennials, individuals born between 1980 and 2000. The report’s key findings include:
- An inspiring and well-communicated vision is critical to engaging millennials long term.
- 74 percent of survey respondents expect to remain more than five years with their company.
- 96 percent of survey respondents are willing to work beyond what is required of them to help the business succeed.
- 98 percent of survey respondents stated it is important for them to understand their career path and opportunities within their company.
- Survey respondents listed competitive pay, work-life balance, and personal development as their top choices for staying engaged.
According to the report’s authors, not unlike other generations entering the workplace, millennials have new perspectives to share, new ideas about getting things done, and new ways of tackling problems. They also want to do more than just punch a clock and take home a paycheck. They are looking to add value, make an impact, and find meaning in what they are doing. FMI suggests company leaders ensure younger workers have a clear sense of purpose and an understanding of their roles within the larger plan.
The report also provides practical insights on developing a comprehensive talent strategy and a culture of engagement.
“Millennials are willing to work hard and put forth the effort when their company provides interesting and challenging work assignments that provide opportunity for career advancement,” Paul Trombitas, research analyst with FMI and contributing author, said.
To access the full report, click here.