MILLENNIALS LIKELY TO BE GONE IN TWO YEARS

Written on the 9 February 2016

MILLENNIALS LIKELY TO BE GONE IN TWO YEARS

MILLENNIALS are proving to be a challenge for employers, with half likely to move on within two years if they don't feel a sense of purpose in the workplace, according to a new report.

The report by Deloitte delivers employers a sobering message: change or you will probably lose those talented, tech-savvy millennial employees.

While the report reveals that 50 per cent of millennials plan to move jobs within two years of joining a company, only 20 per cent intend staying for more than five years.

Deloitte's David Hill says these findings are a wake-up call for Australian business leaders.

"The findings of the Millennial Survey are critical for business leaders," says Hill.

"The 7700 tertiary-educated and employed millennials we interviewed globally place great importance on working for an organisation with innovative leaders who offer meaningful work, opportunities for professional development and a good work-life balance.

"We have a lot to learn from these bright, young future leaders. The best leaders value their ideas and energy. Those who don't are likely to find their millennial workers quickly looking elsewhere."

While the survey might spell gloom for some employers, it does offer some solutions by detailing exactly what millennial workers are looking for in an employer.

The most loyal employees will be those who feel there is support and training on offer for those wishing to take on leadership roles, and active encouragement to aim for leadership positions within a corporation.

In terms of what millennials feel is most important when choosing an organisation to work for, the report found that employees are looking for a good work-life balance, opportunities to take on leadership roles, and flexibility within the workplace.

Interestingly, millennials are not basing their decisions on the reputation of a workplace or the senior executives within.

Deloitte's Paul Dobson says this desire to have a sense of purpose at work is a new characteristic of millennial employees.

"Less than a generation ago, the majority [of employees] would never dream of saying 'no' to supervisors who asked them to take on projects," says Dobson.

"Millennials are more independent and more likely to put their personal values ahead of organisational goals.

"They are re-defining professional success and proactively managing their careers and it would appear their values do not change dramatically as they progress professionally, which will have a significant impact on business and society in the future."

 


Latest News

PROFIT BOOST FORECAST AT VILLA WORLD

VILLA World has forecast profit growth of 5 per cent in the first half of FY17 in an earnings guidance released to th...

WP CURVE SOLD TO GODADDY

NASDAQ-listed tech company GoDaddy has bought Gold Coast's WP Curve for an undisclosed sum.

The subscription-b...

BOARD SHAKE-UP TAKES OUT SURFSTITCH FOUNDER

ONLINE actionwear retailer SurfStitch Group (ASX: SRF) has announced a major board shake-up in a move that effectivel...

ORIGIN TO DIVEST UPSTREAM OIL AND GAS BUSINESS

ORIGIN Energy will spin off its upstream oil and gas business in an as-yet unpriced IPO.

It will allow the Sydney-...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter