Survey of Millennials Shows Job Security, Pay Top Concerns

Jobs, Skills and Training

ManpowerGroup recently released the results of a survey of 19,000 Millennials in 25 countries with some surprising results contradicting various stereotypes, including a greater willingness to remain attached to their current workplace than is often assumed.  Millennials will make up over one third of the global workforce by 2020.  Noting that many came of age during the economic uncertainties of the Great Recession, the survey indicates their top two priorities in choosing where and how they work are money (92%) and job security (87%).  Millennials in the U.S. generally matched these (91% and 86%, respectively).  For U.S. employees, benefits (85%), holidays/time off (85%) and "great people" (80%) closed out the top five, compared to the next three globally being holidays/time off (86%), "great people" (80%) and "flexible working" (79%).  The report notes:

They are not the job hoppers some would have us believe.  Given the chance, they will move on and move up, but more often than not they expect to advance with the same employer.  Like the Traditionalists before them, they want the security of full-time work to ensure they can maintain their standard of living.

Nevertheless, the survey contains significant data to indicate that employers cannot take loyalty for granted, with Millennials wanting new challenges on the job, while recognizing the need for "continuous skills development to remain employable."  The survey sets the stage for our Workplace 2020 Initiative which focuses extensively on how the workplace will continue to evolve as the new generations of workers increase their representation in it.  ManpowerGroup Executive Vice President, Global Strategy and Talent Mara Swan, who chairs our Workplace 2020 Initiative, observes in the report: "Loyalty today is a two-way street.  Once Millennials see what's in it for them long-term they'll be at least as committed and productive as generations before them.  And no spoiler alert needed, what works for Millennials works for the rest of the workforce too, and you don't need 2020 vision for that to be clear."