With the generational gap looming over almost every industry, there is a lot of talk about how to understand the millennial generation in order to retain them as employees and avoid losing money that has been invested in them. While some differences are obvious, such as the attachment to technology and communication styles, the issues that really drive Millennials to believe in a company and remain loyal lie within the difference in values of the company's business model and leadership styles.

In a recent study completed by Deloitte, 7,800 Millennials from 29 different countries were surveyed on what they think is most important in running a business and what they think are the priorities of their leaders.

Some standout findings from the survey include:

• 75% of Millennials believe businesses are focused on their own agendas rather than helping to improve society.
• 6 in 10 Millennials identified a “sense of purpose” as a part of the reason they chose to work for their current employer.
• 37% of Millennials stated they would make employee well-being a priority and 32% would make employee growth and development a priority while they believe current leaders focus more heavily on personal reward and meeting short-term financial goals.

Interestingly, Millennials surveyed estimated that only 37 percent of their skills learned through higher education are used to accomplish their organization’s goals. The survey also found that only 28 percent felt that their current company was making full use of their skills. In the summary of the survey, it states that this led to the Millennials suggesting that business and academia must better collaborate to equip talent for the workplace which mirrors the necessity of educators willing to work with businesses to increase the awareness among students and offer education on careers in construction. 

“The message is clear: when looking at their career goals, today’s Millennials are just as interested in how a business develops its people and how it contributes to society as they are in its products and profits,” said Barry Salzberg, CEO of Deloitte Global. “These findings should be viewed as a wake-up call to the business community, particularly in developed markets, that they need to change the way they engage Millennial talent or risk being left behind.”

The full study can be found here.