Instead of climbing the corporate ladder, Millennials are focused on learning the technical and personal skills to ensure long-term career security, according to a study released by ManpowerGroup.
Globally, Millennials prioritize pay and purpose. Asked about their career goals, 23% say earning a lot of money is a top priority, followed closely by making a positive contribution (21%), and working with great people (19%). They are looking for work they believe in and learning the skills to build a ‘career for me.’
“Millennials want employment security and are pursuing a ‘Career for Me’ to get it. They see traditional managerial paths as less appealing than learning technical and personal skills,” said Mara Swan, executive vice president, Global Strategy and Talent at ManpowerGroup, in a press release. “Loyalty is a two-way street. To cultivate the next generation of leaders, employers need to show Millennials how taking on managerial roles aligns with their long-term career goals and will help make them more employable in the future.”
Being The Boss Is a Low Priority for Millennials
Globally, just 22% of Millennials rank aspiring to leadership roles as a top career priority. This figure includes: managing others (4%), getting to the top of an organization (6%) and owning my own company (12%).
All three ranked at the bottom of Millennials’ list of career priorities in almost every country except Mexico, where their entrepreneurial drive put “owning my own company” at the top of the list (31%).
Men Aspire to Become Leaders More Than Women
In 24 of 25 countries men consider reaching leadership roles— managing others, getting to the top of an organization, and owning their own company—to be a higher career priority than women. The United States, Singapore, and Switzerland have the largest gender gaps. France is the only country where men and women aspire to leadership roles equally.
Millennials Are Eager to Learn Individual Skills, Just Not Management
Over two-thirds (68%) of Millennials want to develop their technical, personal, or IT/technology skills in the next year, while just 32% want to improve people management or leadership skills. For Millennials, skills are the new currency: four out of five would change jobs for a role with the same pay and more skills training opportunities.
Millennials Are Pleased but Not Satisfied with Management
Two-thirds are pleased with how they are being managed; however, most Millennials rank their own people management style more positively than that of their managers when it comes to: listening (69% for Millennials vs. 46% for managers), offering feedback (66% for Millennials vs. 41% for managers), and giving encouragement (63% for Millennials vs. 44% for managers).
The infographic below highlights more key findings from this research. To learn more, click here.
