Millennials are getting a bad wrap.
While they may seem flighty, have short attention spans and are keen to be chief executive on day two, they are also a generation that will find it hard to ever own a property in which to live and, contrary to rumours, are more than happy to stay in a job, once they get one.
In a new survey by CBRE of 5000 millennials in Australia, China, Hong Kong, India and Japan, the myths that they are almost "kamikaze" staff – get in and out as quickly as possible – are being dispelled.
It shows that two-thirds of Asia-Pacific millennials (or 61 per cent of Australian millennials) expect to work for the same company, or for a small number of companies, throughout their career.
That's not to say they won't look to change jobs for career advancement, but many are still happy to stay put to get the necessary experience – but still with ambitions of becoming the boss quicker than the more staid, conservative baby boomer.
In fact, baby boomers are benefiting from the changing ways of working, thanks to the millennials – such as working from home and in an office that focuses on staff "wellness", diversity and flexible hours.
In the CBRE report, Asia-Pacific Millennials: Shaping the Future of Real Estate, the new generation of workers also look for "inspiration, responsibility and career progression" as prerequisites to attract and retain the talent of millennials. People-centric workplace strategies that embrace diversity, choice and community – major drawcards for Asia-Pacific millennials in career choice – can keep talent happier, more engaged and more productive.
And interestingly, just 6 per cent of Australian millennials want to work for a large number of companies with frequent changes.
The chief executive, CBRE Asia Pacific, Steve Swerdlow, said the millennial demographic in the Asia-Pacific region is a game-changer for businesses across the board.
"Their live, work and play priorities and habits will shape economics, redefine opinions on workplace design and functionality, and drive new attitudes towards consumption and experience for the foreseeable future," Mr Swerdlow said.
"Millennials comprise 25 per cent of the total workforce population in Asia-Pacific. The figure is even higher in Australia at 35 per cent and is set to reach 40 per cent by 2030."
He said that while salary and benefits are still the main draw when considering a job, millennials also factor in lifestyle elements such as office design, flexible working, location and commuting time.
"The survey findings underline the importance of a high-quality office environment – more than 70 per cent of respondents said they believe that employers should put more thought into their working environment," he said.
"Millennials view their office and its immediate surroundings as a community where they can relax, socialise and engage in other activities."
While a preference for new amenities is common across all generations it is the strongest for millennials, with wellness/relaxation facilities and green space the biggest influence on Australian millennials when looking for a job.
According to the survey, due to the advent of technology, millennials are also increasingly demanding the freedom to work anywhere, anytime – more than 60 per cent of Asia-Pacific millennials desire flexibility and mobility at work.