More than half of UK Millennials in constant state of ‘career itch’
New European research from Monster.co.uk, in conjunction with YouGov, reveals the changing dynamic between the Millennial workforce, their employers and attitude to careers. With 58% of Millennials thinking about their next job opportunity right now and 26% planning to leave in the next six months.
In the last month, 30% of Millennials have searched for a new job, and 28% suggesting that they’ll be thinking about a job hunt in the next few weeks, even though 67% feel currently satisfied with their job. This constant career itch also extends to a desire for international work experience with 40% open to working in outside the UK, with this number increasing to 45% for the younger half of the millennial age group (18-29 year olds).Millennial top profile employers
While Millennials are looking for change, it appears they are not quite sure in what form. Almost a quarter (22%) said they ‘don’t know’ what type of employer they want to work for. For those more decisive, just under a fifth of Millennials would like to work for a well-known international company or a not for profit (both 17%). Despite the belief that younger audiences are part of a ‘start-up’ generation, relatively few would be keen to work for a fledgling organisation (3%). A sizeable minority (14%) still harbor ambitions to run their own company.
Type of employer % of Millennials who would like to work for that type of employer
Millennials want an employer with strong value
|A well-known international company||17%|
|A non-profit organization||17%|
|My own company||14%|
|Established local company||12%|
|Well known national company||11%|
The study reveals that for Millennials job satisfaction goes beyond tangible factors such as pay and number of hours in the office. The values of the business were highlighted as hugely important – far more so than whether the organization is high profile or well known (47%).
• 83% want to work for an organisation where the values match their own
• 80% of employees want to work for an organisation that values loyalty
• 80% want to work somewhere they feel they can make a difference
• 70% want to work somewhere that has a powerful social and environmental conscience Andy Sumner, Managing Director for Monster UK & Ireland
, said; “Millennials are a hugely important audience for all businesses – they are, quite literally, the future. Businesses need to understand what they want from a role, as well as how best to attract and retain them.
“While Millennials are hugely ambitious and probably the most likely to move job, there in an uncertainty amongst this group of what kind of role they want and where they want to work. What they are sure of though is that the organisation must have strong values, which align to their own. Big or small, established or start-up, the businesses that are able to articulate their purpose, values and goals and align this with the audience they seek to attract and retain will win the top talent.”
The Monster World of Work study was launched on 28th July as part of a series of events entitled ‘Monster Thinking.’ The first of these was focused on the Millennial audience, which included insights from Bejay Mulenga, co-founder of Supa Academy whose mission is to build confidence and develop the skills of teenagers in business and enterprise.
The study and event marks the first instalment of Monster’s World of Work research – looking at workplace fulfilment and trends across the UK, France, Germany and the Netherlands – to provide insights to employers on their current and prospective workforce.