A new study by IBM revealed the truths behind five prevailing millennial myths, and shared advice for businesses looking to stay relevant as Gen Y’s presence grows.

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An IBM study of workers ages 21 to 34 (Gen Y); 35 to 49 (Gen X) and 50 to 60 (baby boomers) could provide insights to leaders of multi-generational work forces.

According to the study:

  • What is good for millennials is good for the rest of us.
  • Creating a “millennial mindset” will help propel businesses into the future.
  • The generations are more alike than different.

“Regardless of generation, everyone wants the same thing,” said Carolyn Heller Baird, global research leader for IBM’s Institute for Business Value (IBV) who conducted the 2015 global study of 1,784 employed, college-educated workers.

“The things you do for millennials? Gen Xers and boomers want them, too, and they’ve wanted them for a long time.”

IBM recommends that “the first step is to stop believing in widely held, but incorrect stereotypes about millennials” and then create “a workplace that embraces millennial strengths…and applies them to the organization’s culture as a whole.”