Training and development and work/life balance are the most popular benefits, way ahead of cash bonuses, to 'millennials', the group of graduates born between 1980 and 2000, according to a new PwC survey and report launched yesterday. 

22% of survey respondents said that training and development was the 'benefit' they valued most from an employer, followed by 19% rating flexible working, while cash bonuses ranked in third place (14%). Only 4% said they would prefer no benefits and higher wages. 

These findings are taken from the report 'Millennials at work, reshaping the workplace,' which is based on analysis of the attitudes of over 4,000 graduates across 75 countries. The report aims to provide insight into the minds of new graduates from around the world entering the workforce for the first time. 

Rupert Hutton, human resources expert at PwC in the Midlands said: 

"Millennials want more than 'just a job'. They expect rapid progression, a varied and interesting career, and constant feedback. What they want might shift as they move through different stages of life and their commitments change, but this group is characterised by their ambition and optimism as they look at more than money when there's an offer on the table. There are significant implications for employers as they need to adapt to ensure they remain attractive to this new workforce."

"At PwC, we aim to cater for millennials by understanding and meeting their needs. Last year, the firm welcomed 100 graduate starters to the Midlands office."

The survey also revealed that millennials are practical about the tough economic conditions. 72% said they had made some sort of compromise (for example, salary, location, benefits, choice of industry) to get into work - which should herald a warning for employers that people moves are is almost certain to increase once economic conditions improve. 

A quarter of respondents also expect to have six or more employers in their working life with only 18% said they planned to stay in their current role long term. 

Rupert Hutton, human resources expert at PwC in the Midlands said: 

"Employers need to work harder to appeal to this generation. However, employers in the region may also need to accept that some 'millenial churn' is inevitable and build this into planning."