As the 80 million Millennials (ages 18–33) start to play a larger role in the U.S. workplace, they aspire to lead in business in the next 5 years, according to The Hartford’s 2014 Millennial Leadership Survey. Millennials also said training is the best way employers can demonstrate an investment in them.
The survey showed 83 percent of Millennials currently consider themselves leaders, and 73 percent aspire to be leaders in the next 5 years. Specifically, the workplace is where they want to lead. Thirty-four percent of the Millennials surveyed said they are business leaders today, but 59 percent aspire to be leaders in business in the next 5 years.
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“The Hartford’s research has consistently shown Gen Y is a giant generation of go-getters who want to take charge but also yearn for training and mentoring,” said Lindsey Pollak, workplace expert. “Millennials are expected to comprise a majority of the U.S. workforce by 2020, which makes leadership development a critical issue for organizations large and small.”
“Our research shows Millennials are hungry for information, products and services that help them reach their personal and professional goals” said Lori High, chief marketing and sales officer for The Hartford’s Group Benefits business. “Employers have an incredible opportunity to help Millennials become the boss and protect their potential.”
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In the national survey, Millennials said employers can demonstrate their investment in them as a future leader by offering training and development (50 percent), a clear career path (35 percent), and ongoing coaching and feedback (34 percent).
Work/life balance (47 percent) is the issue that the Gen Y survey participants would tackle in the workplace as a leader, followed by leadership training (33 percent). When asked about what an employer could offer to retain young employees, Millennials said:
- Flexible work schedule (58 percent);
- Merit-based salary increase every 6 months (41 percent); and
- Insurance benefits (38 percent).
For more information, visit The Hartford’s website.