Millennials want to lead and seek the challenge
While a balanced work-life balance for Millennials is high on the wish list worldwide, they are also ready to take on leadership responsibilities and they are looking for the challenge.
These are also the findings of what is to date the largest independent study of millennials, for which the employer branding consultancy Universum, the INSEAD Emerging Markets Institute (EMI) and the HEAD Foundation interviewed more than 16 000 students and young professionals in 42 countries.
Around the world, 69 percent of respondents say it's important for them to be leaders in their careers in their careers Company to take over. Only eleven percent say it's less important to them. Millennials in Germany are a little less interested in assuming leadership responsibility: for about half of respondents, leadership is important. By contrast, for 29 percent, a management task is not an important career goal.
Why become a leader?
The most frequently cited motives for becoming a leader are high levels of global pay, as well as impact on the business and work on strategic challenges. In this point, the motives of Millennials in Germany hardly differ:
The main motivation for taking over a leadership role is the opportunity to deal with topics of strategic importance to the company and to take up a challenge and influence on the company. A high salary is for 36 percent of respondents in the foreground.
What challenges you?
When you ask the Millennials what a challenging job means to them, 39 percent of the world's young talents say: being involved in innovative work and learning new things every day. In Germany, the millenials under a challenging job primarily understand the collaboration with talented colleagues as well as learn new things every day and great freedom in the execution of tasks.
When asked how often they expect feedback from their superiors, half the respondents say that they expect a weekly or monthly feedback, both on a global scale and in Germany. In Germany, 32 percent of respondents even want a feedback from their superiors, whenever it is appropriate. This is far from the usual yearly talks. Millennials expect a much more frequent feedback from executives.
The study shows that there are some global trends, such as the high appreciation of a good work-life balance. But a more precise analysis of the expectations of the young talents shows that companies should also pay attention to regional and national peculiarities.
Ultimately, an approach geared to national circumstances is indispensable in setting up the employer brand. Employers looking to tackle these challenges are facing hard times.
Largest independent study on millenials
These are the findings of what is to date the largest independent study of millennials surveyed by the employer branding consultancy Universum, the INSEAD Emerging Markets Institute (EMI) and the HEAD Foundation, and more than 16 000 students and young professionals in 42 countries. The aim of the study was to better understand the so-called generation Y and to gain further insights into this important population cohort.
If one compares the global results of the survey with those in Germany, it becomes clear that many of the global trends also apply to the German generation Y. But there are also important differences.
Work-life balance more important than salary
Nearly three-quarters of respondents around the world say that a job that gives them a good work-life balance is more important than a high salary. The Millennials in Germany agree: more than four-fifths are in favor of a job that offers a balance between family and work. Only for 19 percent is high content more important.
The most important aspect of the work-life balance is for the millennials to have enough free time to pursue their own interests. More than half of the respondents say this worldwide. In Germany, the proportion of those who are particularly interested in leisure time work-life balance is even higher with 73 percent. Flexible working hours and overtime compensation are also key elements of the work-life balance for millennials in Germany.
Who is behind the study
- The international research and consulting company Universum supports companies in setting up their employer brand.
- The INSEAD Emerging Markets Institute is a research institute that focuses on economic and social development in growth markets.
- The HEAD Foundation examines the importance of the education sector for development in Asia.
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