The 4 core values of millennial women
Tuesday, November 10, 2015
Posted by: Barbara Francella
By Jeffery Halter
The gender pay gap in Hollywood became headline
news when Jennifer Lawrence published a provocative blog piece about
the disparity in wages for women in Hollywood. Her friend and frequent co-star Bradley Cooper took a bold stance to talk
about pay equity and committed to changing the status quo.
Like Lawrence and Cooper, millennials are not going to
stand by and tolerate what has passed for acceptable corporate behavior of the
last 20 years. They are vocal and passionate about inequities, wherever and
whenever they see them. This is a great thing for your company, if your company
I reached out to Christie Hunter Arscott, co-author of the recent International
Consortium for Executive Development Research report "Millennial Women."
Here is what Arscott says today's executives need to know about millennial
care about compensation. While leaders perceived millennial men as
compensation-driven, they viewed millennial women as focused on flexibility,
balance and family. However, millennial women identified a higher-paying job as
the primary reason they would leave their organization. Caring about
compensation is not reserved to men.
prioritize fairness. Not
only do millennial women care about pay from an absolute income perspective,
they also value fairness in pay — fairness in relation to their work effort and
in relation to how others are compensated. "There is not a fair balance
between how hard I work and the compensation I receive" was ranked as one
of the top four reasons why women five to 10 years out of university leave
Like Jennifer Lawrence, early-
to mid-career millennial women are openly questioning the fairness of their pay
and rate of progression in comparison to their male counterparts and are demanding
more transparency and fairness in all talent processes.
care about their company's values. In the
ICEDR study, millennial women were clear about what is important to them at
work. Asked "How important is it to you that your organization inspires you
with purpose?” nearly 95 percent responded "Important.” Organizations that do not
prioritize values such as gender equality and pay parity risk losing the hearts
and minds of their employees — men and women — who care about working within an environment that
inspires them and reflects their own ethics.
want a voice. In traditional
corporate hierarchies, having a say on key business or people issues is
reserved for senior executives. Millennials are shaking up this model.
Approximately 80 percent of women surveyed by ICEDR stated their desire to have
a voice and be heard.
Millennial women who are
unsatisfied with pay, fairness and company values are not likely to take a back
seat. And I agree with Arscott's conclusion: Millennial
women’s preferences and values have broader talent implications. By
implementing strategies and programs informed by the needs of Millennial women,
leaders will simultaneously address what matters most to the broader talent
Jeffery Tobias Halter is president
of YWomen, a strategic consulting company
focused on engaging men in women’s leadership issues. Christie Hunter Arscott
is a writer, speaker and advisor specializing in organizational and individual
advancement strategies for the next generation of women leaders.
Views expressed in
blogs, posts and user comments are those of the authors and do not necessarily
reflect the opinions of the Network of Executive Women or its Officers, Board
members and corporate partners.