Mumbai, Aug 23 As companies in India strive to engage and retain millennials at the workplace, one in four from this dynamic generation are experiencing burnout, highlighting the urgent need for organisations to create environments that promote their well-being, a report showed on Friday.
About 44 per cent of millennials have job tenures lasting less than two years in the country, underscoring the need for companies to continually engage and develop their millennial employees to retain top talent, according to the ‘India Great Place To Work’ report.
The findings showed that 79 per cent of millennials believe they can effectively balance their professional and personal responsibilities.
However, despite their emphasis on balance, one in four of them reports experiencing burnout.
“As millennials now make up about 67 per cent of the workforce, their influence on the workplace is undeniable. They are also taking up comparatively more managerial and leadership roles and shaping the future of organizations with fresh perspectives and innovative ideas,” said Balbir Singh, CEO, ‘Great Place To Work India’.
The research showed that 74 per cent of millennials believe they are paid fairly, and organisations that ensure equitable compensation structures are twice as likely to be seen as great places to work.
They, however, demand transparency and fairness in how their pay is determined, and they expect employers to take active steps to align pay scales with market standards.
Moreover, 84 per cent of millennials in senior leadership roles feel they are provided with leadership development resources.
According to the findings, organisations must evolve and create policies that reflect these needs. This includes offering flexible work hours, comprehensive family health benefits, implementing 360-degree wellness and financial support programmes, and holistic approach to address the full spectrum of well-being.
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