We prove that steady state bifurcations in finite-dimensional dynamical systems that are symmetric with respect to a monoid representation generically occur along an absolutely indecomposable subrepresentation. This is stated as a conjecture in [B. Rink and J. Sanders, SIAM J. Math. Anal., 46 (2014), pp. 1577–1609]. It is a generalization of the well-known fact that generic steady state bifurcations in equivariant dynamical systems occur along an absolutely irreducible subrepresentation if the symmetries form a group—finite or compact Lie. Our generalization also includes noncompact symmetry groups. The result has applications in bifurcation theory of homogeneous coupled cell networks as they can be embedded (under mild additional assumptions) into monoid equivariant systems.