Research shows that 91% of Millenials say the opportunity for rapid career progression is one of the most important things about their job; but fewer than half of employers provide clear guidelines for progression.
Orginal research from Robert Walters indicates that key factors for Millenials include their empower’s use of technology, a social workplace, salary and bonuses.
The research, which surveyed employers and professionals from a range of fields across South Africa, revealed that this desire for career progression is central to attracting and retaining Millennial employees, as well as keeping them engaged in their role.
However, 53% of Millennials reported that they had been disappointed by a lack of training and development in a new job and 68% cited a clear path for career progression as the most important factor in keeping employees engaged.
This ambition was not always seen positively by employers however, and 69% felt that demand for rapid career progression was the most common cause of intergenerational conflict at work.
During the economic downturn many Millennials were forced to compromise on job expectations, with 53% taking a lower salary than they had hoped for and 31% taking work outside their preferred sector or discipline. This has shaped Millennial attitudes towards their career and as the economic situation improves many are ready to progress to more senior roles with more generous compensation packages.
One in four said that being offered a more generous compensation package elsewhere would be the most likely reason they would change jobs.
Millennials place a high value on transparency from their employer regarding career progress, with 71% strongly agreeing that employers should make the criteria necessary to achieve promotions or bonuses clear. In contrast, just 40% of employers said that they do this.
Another priority for Millennial professionals is finding an employer who embraces technology, with 53% saying they would be more likely to take a job with an employer who used the same technology that they do themselves. 42% said that employers should always seek to implement the latest technologies even if the cost is high.
Millennials were also shown to value a more social workplace, with 30% saying that a social outing with their colleagues was the most important part of their induction at a new job; and 75% of Millennials considering an engaging and fun workplace an important or very important part of their job.
Robert Walters’ Nic Sephton-Poultney comments: “The research has given us vital insights into the perceptions of Millennial professionals themselves and how they are perceived by their colleagues and employers. Clearly, Millennial professionals are ambitious and are anxious to get their careers back on track in the wake of the recession.
“This ambition has the potential to be a source of conflict but, if properly engaged with, Millennials can be among the most engaged and energetic employees in an organisation.”