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For Immediate Release
November 12, 2007
NEW STUDY FROM ROBERT HALF INTERNATIONAL AND
YAHOO! HOTJOBS
PROVIDES INSIGHT INTO MILLENIALS' CAREER CONCERNS AND PRIORITIES
MENLO PARK, CA, November 12, 2007 -- Baby
boomers and Generation Y (broadly defined as those born between 1979
and 1999) may have less of a generation gap than one might assume.
New research from Robert Half International and Yahoo! HotJobs reveals that Millennials
share many of the same concerns as more tenured workers when it comes
to saving for retirement, finding a solid healthcare plan and
achieving work-life balance. However, Millennials
aren’t concerned only with the benefits their employers provide. They
also expect a lot from their company leaders and look to them as
partners in success and job satisfaction.
In a just-released guide, What Millennial
Workers Want: How to Attract and Retain Gen Y Employees, Robert
Half International and Yahoo! HotJobs
examine the professional priorities of the most senior members of
Generation Y — those who have already started a career or will soon
start one. More than 1,000 adults ages 21 to 28 were polled for the
project.
“The research depicts a pragmatic,
future-oriented generation that holds many of the same values as its
predecessors,” said Reesa Staten, senior
vice president and director of workplace research for Robert Half
International. “Yet, certain distinctive qualities, such as a desire
for very frequent feedback from their managers, are unique to this
generation. Generation Y expects a lot of its leaders. Making sure
supervisors of Gen Y professionals have supportive management styles
can go a long way in attracting and retaining these workers, who will
play a greater role in organizations as more baby boomers retire.”
Big expectations of company leaders
Survey respondents rated working with a boss they respect and can
learn from as the most important aspect of their work environment,
ahead of having a nice office space, a short commute or working for a
socially responsible company. Those surveyed also indicated that they
expect more “face time” from their supervisors than a weekly status
meeting. The majority of Gen Yers (60
percent) want to hear from their managers at least once a day.
Redefining a successful future
Most
survey respondents appeared optimistic about the future, but this
isn’t a group whose idealism overshadows practical concerns,
according to the study. When evaluating job opportunities, for
example, the research shows that salary, benefits and room for
professional growth are top concerns for this group. While 46 percent
of Gen Yers consider their career prospects
better than previous generations, many respondents feel they also
will have to save more money for retirement and study harder than
generations past. In fact, nearly three out of four (73 percent) Gen Yers surveyed said they will likely go back to
school to obtain another academic degree or certification.
A corner office or impressive job title doesn’t
equal success for Gen Y, the survey results suggest. In fact,
respondents ranked “a more prestigious job title” last among seven
factors that would prompt them to leave their current positions.
Opportunities for professional growth and advancement rated a greater
career priority, the research shows.
Keeping their options open
Like
most employees, Gen Yers crave challenge on
the job. The top factors that would tempt Gen Yers
to look for greener pastures are added pay and benefits,
opportunities for advancement, and more interesting work. Even firms
that provide some of these incentives may not be able to keep Gen Y
staff members for the long term. Four out of 10 respondents said they
plan to stay at their job up to two years; only one in five foresees
staying at his/her current job six years or longer.
“Millennials never
stop marketing themselves,” said Tom Musbach,
managing editor, Yahoo! HotJobs. “This
means companies must constantly be in recruiting mode with current
employees.”
Survey Methodology
The
survey was conducted in the second quarter of 2007 by an independent
research firm. It includes a total of 1,007 web interviews of people
21 to 28 years old who are employed full-time or part-time, and have
college degrees or are currently attending college. Among those
surveyed, 505 were males, and 502 were females.
About Robert Half International
Robert
Half International is the world’s first and largest specialized
staffing firm with more than 350 staffing locations in North America,
South America, Europe and the Asia-Pacific region. The company’s
professional staffing divisions include Accountemps®,
Robert Half® Finance & Accounting, and Robert Half® Management
Resources, for temporary, full-time and senior-level project
professionals, respectively, in the fields of accounting and finance;
OfficeTeam®, for highly skilled temporary
office support; Robert Half® Technology, for information technology
professionals; Robert Half® Legal, for project and full-time staffing
of attorneys, paralegals and legal support personnel; and The
Creative Group®, for creative, advertising, marketing and web design
professionals. For more information about the specialized staffing
and recruitment divisions of Robert Half International, visit www.rhi.com.
About Yahoo! HotJobs
Yahoo! HotJobs (http://hotjobs.yahoo.com)
is the fastest growing Web site among the leading job boards, with
+43.3 percent traffic growth during January - September 2007, versus
2006 (comScore Media Metrix).
As a leader in the online recruiting industry, Yahoo! HotJobs has revolutionized the way people manage
their careers and the way companies hire talent.
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