Millennials are no longer “taking over”; the majority of this generation is already in the workplace, and they’re here to stay. As Millennials get older, having meaningful learning opportunities to help improve their careers will make or break any employer trying to retain this talent pool.
According to new survey findings from digital executive coaching platform Tone Networks, executive coaching and access to mentors and role models could be the links to lowering stress levels and increasing workplace confidence among Millennial women.
Two out of 3 (68%) Millennial women said having access to coaching and leadership development tools would help them feel more confident and less stressed, although 2 out of 5 (44%) Millennials said their job does not provide adequate access to mentors, and 43% said their job doesn’t provide adequate access to role models.
“We’re experiencing a period of unprecedented uncertainty and new ways of working, increasing the need to provide women with tools to help them reduce stress, engage more with their work, and maintain a sense of normalcy each day,” says Gemma Toner, Founder and CEO of Tone Networks, in a press release announcing the survey findings.
“We found that when Millennials feel more confident at work, their perceived stress decreases by 25 percent,” Toner adds. “There are ways for companies to address the gap by providing adequate resources and access to coaching, learning and development tools.”
Before you address the gap, you must understand the issues at large. Perceived stress is a combination of factors. The four top factors that impact Millennials’ levels of perceived stress at work are:
- How socially connected they feel to their colleagues
- If they’re experiencing “imposter syndrome”
- Overall job satisfaction
- Perceived overall competence
Results from the study also demonstrate that employers can take an active role in lowering employees’ stress levels.Companies that implement programs or provide resources to help with all of these four factors can see a collective reduction of stress among Millennial employees of up to 37%.
Additionally, giving employees access to learning tools and development training to advance in their careers can lower perceived stress by almost 10%. Additional findings from the study include:
Imposter syndrome is linked to a lack of access to resources. The top predictor of “imposter syndrome” for Millennial women is a lack of access to career advancement tools, while the top predictor for non-Millennials is a lack of career coaching.
Millennials prefer online learning. Sixty-five percent of women surveyed reported they prefer online learning tools, and 58% prefer to learn through videos instead of reading.
Offering resources to help with these areas is also shown to directly impact employees in a positive way; Tone’s 2020 customer experience study showed that 89% of employees who engage with Tone report it made a positive impact on their personal and professional development, and over 50% reported Tone has helped them better handle stress.
“In this current work environment where many Millennial entry-level and mid-stage career women are working from home and will continue to do so for the foreseeable future, it’s important for companies to ensure that they’re providing them with the right virtual resources to further their growth and development; lowering stress goes hand in hand with advancing professionally and becoming more confident and successful at work,” Toner concludes.
The infographic below highlights more key findings from the survey.