2 out of 3 millennials expect to quit their jobs by 2020
Young workers, particularly females, are prepared to walk in the name of upward career mobility.
For all the adjectives purported to describe millennials (“entitled,” “narcissistic,” “broke”), there’s one you don’t see too often: overlooked. But that’s an operating term in a new survey of millennial employees, which reveals that two out of three young workers—particularly young women—expect to quit their job by 2020 in the name of seeking out better leadership opportunities.
Conducted by professional services firm Deloitte, the company’s fifth annual millennial survey found that 84% of workers within the demographic, which represents the largest segment of the workforce in the United States, expects they'll have left their jobs within 10 years. Among those surveyed, 67% of women said that they were likely to leave within the next five years (compared to 64% of men). Both genders feel equally snubbed when it comes to promotions with 48% of female and 50% of male respondents saying they're "being overlooked for potential leadership positions."
Similarly, women were equally as likely as men to rate “opportunities for career progression of leadership roles” as the main reason for leaving, the survey found, although they were slightly more likely to seek out better work-life balance and a sense of meaning in their work.
As for what makes young workers stick around? Open and free-flowing communication is a must, with 47% reporting high levels of satisfaction in workplaces prioritizing that quality, along with a supportive, tolerant office culture (42%) and a sense of purpose beyond rote financial success (40%).
“Ensuring employees feel comfortable—that is a successful company, where people are free to perform their tasks and duties regardless of time and space,” said one worker interviewed for the study. Is that enough to keep employees around for the long run? That depends on whether companies are willing to not only create one of those nurturing environments, but actually nurture the talent they’ve brought on board.
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