Career development key to retention and engagement of millennials: Survey

by L&D25 May 2016
The millennials of today are strong believers in ongoing learning, and this plays a critical role in their job satisfaction, according to ManpowerGroup’s report Millennial Careers: 2020 Vision.
Indeed, ‘opportunity’ is highly important to Australian millennials, with three quarters saying that learning new skills is a top factor when considering a new job.

Another 60% indicate they’d prefer to stay with their employer for more than three years as long as they were provided with new opportunities. 
Moreover, 69% are willing to spend their own resources on further training, 78% state ongoing skills development is critical to their future career and 17% intend taking an extended career break for study purposes.
Millennials, more than generations before them, are especially keen to expand their skill sets and areas of expertise to align to future business need and fulfill their aspirations, said Richard Fischer, Managing Director of ManpowerGroup Australia and New Zealand.
“Millennials want progression, but that doesn't have to mean promotion,” Fischer added.
“Employers will gain most value from millennials when they participate in and play a role in influencing their careers, like facilitating on-the-job learning and helping people move around the organisation to gain experience more easily.”
The research also found that longer career trajectories are inspiring different work models that disrupt traditional ways of working.
Even though almost three-quarters of working millennials are in full-time jobs today, over half say they’re open to new ways of working in the future, including freelance, gig work or portfolio careers with multiple jobs.
Moreover, two thirds of Australian millennials expect to work past age 65, 36% expect to work beyond 70 years old and 11% until they die. They are also working longer hours, with 14% working more than 50 hours per week and 16% working two or more paid jobs.
In place of a traditional retirement, 88% foresee taking career breaks longer than four weeks throughout their career with almost two thirds (62%) using the break for relaxation, travel or vacation.
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