Reports show that by 2020 millennials will make up a third of the global workforce so what does this digital generation really look for in a career?
The ManpowerGroup, whose job it is to find work for 3.4 million people, about half of whom are millennials, surveyed the careers and working environments of 19,000 millennials to find out.
The report aimed to find out how different they are from the rest of the workforce, which development opportunities they are motivated by, and why they choose to stay with employers.
Millennials exist in a fast-paced world, and their work expectations aren’t much different they want a career that offers variety and quick progression.
The report found that millennials are positive about their careers 2/3 are hopeful about their current employment prospects and 62 per cent are optimistic that if they lost their main source of income, in three months they could find equally good if not better work.
It also found that despite some bad press millennials are an extremely hard-working generation, already working harder than any of the generations before them. 73 per cent of them work more than 40 hours a week and nearly a quarter work over 50 hours.
Since millennials spend so much time dedicated to their jobs already, 84 per cent expect significant breaks during their working lives, supporting the idea that career waves are the new career ladder in earlier generations.
Most millennials know they’ll work longer than previous generations and rather than spending their life in one job, millennials opt for careers in waves with changing direction, pace, and regular breaks.
The report found93 per cent value lifelong learning, and will even use their personal time and fork out cash from their own pockets on further training and 80 per cent consider learning a new skill a top factor when choosing a new job.
With such a specific outlook on their career-pace, millennials seem to be planning for the long haul, aiming to find work that offers long-term, stable employment.
Overall, what millennials want in the workplace can be summarised in three points:
- 92 per cent value money and remuneration
- 87 per cent consider security and stability in the role
- 86 per cent weigh up holidays/time off
With millennials redefining how we view job security, businesses can learn from their move toward career security ensuring millennials, and all other employees, get what they seek from the working journey, not their current job title.