They are very confident because their parents created an environment in which

They are very confident because their parents created

This preview shows page 18 - 21 out of 196 pages.

Research Center, 2015). They are very confident because their parents created an environment in which they could succeed (Ferri-Reed, 2013; Pew Research Center, 2015). Millennials are team-oriented because they were constantly raised among their peers; for instance, most millennials played multiple sports, participated on several teams, and learned collaboratively in group learning systems (Ferri-Reed, 2013; Pew Research Center, 2015). They are also high achievers, owing to the higher education standards they experienced during their primary and secondary education programs (Ferri-Reed, 2013; Pew Research Center, 2015). For instance, they are comfortable with the use of technology, emerging technologies, and social media (Howe & Strauss, 2003; Kowske, Rasch & Wiley, 2010; Taylor, 2014). They have been pressured to do well by their parents and do not want to let their
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5 parents down. They were raised to be conventional, not rebellious (Ferri-Reed, 2013; Pew Research Center, 2015). Questions for this research study emerged from the obvious gaps found during the literature review and as research progressed. During the literature review, the context for the workplace expectations and practices that millennials prefer in order to remain long-term with their current employers were explored. There is existing literature on millennials in the workplace, but more scholarly research was required to determine the specific expectations and practices millennials in the workplace desire and demand to be retained long-term (Howe & Strauss, 2003; Kowske et al., 2010; Taylor, 2014). Many economists are concerned about large numbers of the most experienced workers exiting the labor force because of retirement and/or mortality over the next few years, and intensification of global competition for workplace talent (Espinoza, Ukleja, & Rusch, 2010). Millennials will have to fill the gaps in the workplace left by the large and ever-growing number of retiring baby boomers. Millennials currently make up approximately 35% of the workforce, and by 2020, it is estimated they will comprise over 40% (Loudenback, 2016; Pew Research Center, 2015). Howe and Strauss (2003) stressed how previous generations do not understand the needs of the millennial generation in the current workplace. Gedeon (2013) reported 60% of working millennials plan to leave their current job within the first three years of employment. As the millennial generation continues to grow in the U.S. workplace, it is important for business leaders to
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6 know how to cultivate a workplace environment to which millennials are attracted and will remain in long-term employment, at least three years or longer, because of the recruitment investment spent and the contributions they are able to make to the business (Loudenback, 2016). Business leaders will need to learn how to relate best to millennial workers in order to understand their needs, ensure long-term retention, and prevent high turnover. The current U.S. general population of this generation is 75.3 million (Fry, 2015; Loudenback, 2016). According to research by Gutfriend (2014) by 2020, 86 million millennials will be in the workforce, and they will represent approximately 40% of the total working population (Brack, 2012). In
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