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Millennials define success by impact and not by income

March 2017 - Trends Research on ORMIT Millenials 

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Success is measured by the impact you make and the satisfaction you get from your work. That is the opinion of 80 percent of the ORMIT trainees in the Netherlands and Belgium, according to the latest trend research by ORMIT, the specialist in traineeships. Only 1 in 5 talents does consider income as a measure of success. For them, the salary is an indicator for the appreciation the employer has for his employee.

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Personal, subjective and different for everybody

Many talents question the definition of success, for them it is mainly about personal success. “Success is relative and is measured in the subjective amount of contribution you are able to make to your personal goals and the common goals.” Success is very personal, someone who earns more money is not by definition more successful or more valuable. “Even failure can be a success if you learn from it.”

Making a positive impact

Apart from payment, some millennials rather experience meaning, satisfaction, and happiness. “The purpose in life is not a job with status or filling your bank account. I much rather try to realize a positive impact on people through my work. That is not measured by your annual income.” Inspiring people, being appreciated, seeking collaboration, making an impact, that is what drives the millennials. “To be able to be yourself and getting an energy boost from making a contribution.” Money is temporary and futile, they say. “You cannot take it with you when you die. Making a special impression on someone has a lasting value.”

Making a contribution to society 

Having a job in which you can do work you like doing and through which you can make a contribution to society: for millennials that is a better description of personal success. Because: “If success should be measured by your salary, Gandhi, Martin Luther King and Mandela would not have been very successful people!” In any case, recognition is a factor for success: “For me, recognition from team members and co-workers is more important than the monthly salary. Being appreciated within or outside the company makes a person more successful than the man with the big salary.”

“Don't try to measure your success, enjoy it”

Success, also outside the company 

The combination of job and success is not an obvious one for everyone. “In your personal life, success could be measure by little triumphs, such as being able to keep your target weight and having children.” Or, as a variation on this: “Success is measured according to your level of happiness and ability to let go.” Millennials rather have a nice private life than a huge salary. “A raise in pay is not the first thing we think about. I rather see happy children who see their parents often and these are not the ones who finally come home every evening at eight o’clock, exhausted.” Earning money is still important, but “just a sufficient amount to be able to lead a pleasant and carefree life will do. “

Salary indicator for market value 

The minority (22%), however, thinks that an employee’s value actually is expressed in his wages. “For the employee concerned, this is the proof that he constitutes an added value and does a good job.” Salary is also considered as market value: “If your employer does not pay you enough, a competitor will soon make you a better offer. So if you do not want to run the risk of talent being poached, you had better pay that successful employee good wages. In that sense, the salary is definitely a good indicator of someone’s success.” Sure, it is not the only thing that matters, but your salary helps you to quantify your success, they say. Your salary also says something about the success in your career. The person who contributes to the success of a company is entitled to a share of the profit, usually expressed in additional salary or a bonus. “A successful phase in your career and a promotion usually means more salary.”

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