Pattie Lovett-Reid

Chief Financial Commentator, CTV

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Millennials are taking a social stance when it comes to employment. 

Three quarters would take a pay cut to work for a socially-responsible firm, and 88 per cent say their job is more fulfilling when employers provide opportunities to make a positive impact, according to findings from the 2016 Cone Communications Millennial Employee Engagement Survey published earlier this month.

The survey found corporate social responsibility, or the lack thereof, can be a deal-breaker when deciding where to work. Millennials see a company’s commitment to responsible business practices as a key factor in their decision-making process:

• 64% say they won’t take a job if a potential employer doesn’t take this seriously
• 83% would be more loyal to a company that helps them contribute to social and environmental issues
• 88% say their job would be more fulfilling when they are provided opportunities to make a positive impact on the issues

Millennials will soon make up 50 per cent of the workforce and companies have to radically evolve their value proposition to attract and retain this socially-conscious group. And it isn’t enough to simply pay lip service. This generation wants to get their hands dirty, providing ideas and suggesting ways to improve. This generation given technology is literally always-on and 81 per cent see their personal lives and business lives blended so it isn’t surprising companies that provide opportunities beyond nine to five will allow and engage millennials to make an impact both inside and outside the company walls.

Other facts: Millennials are more likely to use social media to not only learn about efforts being undertaken but also as a way to share the impact they are making. Three-quarters want to share their own photos, videos and experiences and would use designated company hashtags.

Companies that understand this will be rewarded in the long run with an engaged and energized workforce.