New Insights on Working Millennials, by the World’s Workforce Experts
May 24, 2016 | By David Lyndon |
By 2020, Millennials will make up over a third of the global workforce (35%) and their presence is changing the world of work and redefining employer- employee relationships.
ManpowerGroup commissioned thought leadership consultancy Reputation Leaders to conduct a quantitative global study of 19,000 working Millennials and 1,500 hiring managers across 25 countries to understand what Generation Y wants now and in the future, and help individuals and organizations succeed in this new world of work.
Millennials expect to work career ultramarathons with multiple breaks between jobs: Over half expect to work past age 65 and 12% say they will likely work until the day they die.
Despite economic headwinds, working Millennials are surprisingly upbeat about their careers. Two-thirds are optimistic about their immediate job prospects. Sixty-two percent are confident that if they lost their main source of income tomorrow they could find equally good or better work within three months.
Millennials prioritize three things when choosing where and how they work: money, job security and time off.
Although Millennials have a reputation for job hopping, most want new opportunities with current employers if given opportunities for developing skills, recognition and promotion.
63% intend to stay with their current employer for the next few years or longer. However, they are ambitious for new challenges. When asked what the “right” amount of time is to stay in a single role before being promoted or moving to another, about two-thirds said less than two years, and a quarter said less than 12 months.
Millennials understand the need for continuous skills development to remain employable. 93% want lifelong learning and are willing to spend time and/or money on further training.
See the full report on the ManpowerGroup website: http://www.manpowergroup.com/millennials
About the Research
ManpowerGroup commissioned thought leadership consultancy Reputation Leaders to conduct a quantitative global study of 19,000 working Millennials and 1,500 hiring managers across 25 countries to understand what Generation Y wants now and in the future, and help individuals and organizations succeed in this new world of work. Millennials were identified as those born between 1980 and 1995.
The research population included an independent sample of 11,000 working Millennials equally balanced across age ranges and genders from 18 countries representing all regions. We also surveyed more than 8,000 ManpowerGroup Millennial associate employees and 1,500 hiring managers across 25 countries. Speaking to both groups gave us unique perspectives from both employers and employees.
The fieldwork took place between February and April 2016. Participating countries included: Argentina, Austria, Australia, Belgium, Brazil, Bulgaria, Canada, China, France, Germany, Greece, India, Italy, Japan, Malaysia, Mexico, Netherlands, Norway, Paraguay, Singapore, Serbia, Spain, Switzerland, the United Kingdom and the United States.
ManpowerGroup® (NYSE: MAN) is the world’s workforce expert, creating innovative workforce solutions for nearly 70 years. We connect more than 600,000 people to meaningful work across a wide range of skills and industries every day. Through our ManpowerGroup family of brands – Manpower, Experis, Right Management and ManpowerGroup Solutions – we help more than 400,000 clients in 80 countries and territories address their critical talent needs, providing comprehensive solutions to resource, manage and develop talent. In 2016, ManpowerGroup was named one of the World’s Most Ethical Companies for the sixth consecutive year and one of Fortune’s Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup makes powering the world of work humanly possible: www.manpowergroup.com.
About Reputation Leaders
Reputation Leaders is a global thought leadership consultancy delivering compelling research that causes people to think about brands differently. We help companies with brand positioning and create credible thought leadership using primary and secondary global research.