Mumbai: Millennials are set to run career ultramarathons, anticipate taking breaks along the way, and optimistic about immediate job prospects, according to Millenials Careers: 2020 Vision ManpowerGroup report out recently. Based on a global study including the Indian market, the report provides practical advice to help employers rethink their people practices for attracting, retaining and developing millennial workers.
Millennials are also ready to work beyond the age of 65 as over 39% expect to work past age 65. Surprisingly, India rank 16 out of 18 countries surveyed on this criteria. 25% percent expect to work over the age of 70, and 14% say they will likely work until the day they die.
Millennials are identified here as those born between 1980 and 1995.
Millennials in India love work at the same they intends to take significant breaks for relaxation, travel or vacations. 89% of Indian millennials foresee taking breaks longer than four weeks along the way, mostly for personal reasons. While globally there still seems to be bias towards women taking time off to care for others, children, older relatives, etc., in India the report finds more of a balance, both men and women share this responsibility. Regardless of gender, 41% of Millennials are planning to take significant breaks for relaxation, travel or vacations.
Learning & Training is the cornerstone of achieving desirable professional success, millenials has fully realised this concept.78% of Millennials are willing to spend their own time and/or money on further training. 83% of surveyed millenials see ongoing skills development as an important part of their future careers, while 7% of Millennials have no interest in training.
Millennials prioritize three things when selecting where and how they work: job security; learning new skills; and money. They also rank holidays and time off, the opportunity for promotion and a flexible working environment as other factors for selecting employers. 8 in 10 Millennials in India states working for employers who are socially responsible and aligned to their values is important. Millenials appear to be remain ahead of the curve as far as technical skill and new skill sets are concerned as 93% say the opportunity to learn new skills is a top factor when considering a new job. 27% intend to take an extended break from work to gain new skills and qualifications.
Indian millenials have high hopes on current job market as59% are optimistic about their immediate job prospects. 87% are confident that if they lost their source of income tomorrow they could find equally good or better work within three months.
AG Rao, Group Managing Director of ManpowerGroup India, said, Millennials are used to a faster-paced world and that prefer a fast-track career. Hence, ball is on the employers court how to attract and inspire the best Millennials. More and more organizations are raising bar and reworking on innovative HR policies to woo Millenials.”
About the Research: ManpowerGroup commissioned thought leadership consultancy Reputation Leaders to conduct a quantitative global study of 19,000 working Millennials and 1,500 hiring managers across 25 countries. The research population included an independent sample of 11,000 working Millennials equally balanced across age ranges and genders from 18 countries representing all regions. Participating countries included: Argentina, Austria, Australia, Belgium, Brazil, Bulgaria, Canada, China, France, Germany, Greece, India, Italy, Japan, Malaysia, Mexico, Netherlands, Norway, Paraguay, Singapore, Serbia, Spain, Switzerland, the United Kingdom and the United States.
