84% of Millennials foresee taking career breaks, finds ManpowerGroup
Millennials are set to run career ultramarathons and anticipate taking breaks along the way, according to a ManpowerGroup report.
The report found that they prioritise job security and the opportunity for new challenges and types of work. Based on a global study of 19,000 Millennials from 25 countries, the report provides practical advice to help employers rethink their people practices for attracting, retaining and developing Millennial workers.
Millennials are preparing to run career ultramarathons, ManpowerGroup says. Over half expect to work past age 65, 27% expect to work over the age of 70, and 12% say they will likely work until the day they die. In Japan, that figure is more than a third.
Millennials are working longer and harder than previous generations, according to the report. 84% of Millennials foresee taking career breaks longer than four weeks. Though women are likely to plan breaks to care for others — children, older relatives, etc. — men and women prioritise leisure-related breaks for themselves equally.
The company reports that Millennials are happy to disrupt and be disrupted by new ways of working. While almost three-quarters of working Millennials are in full-time jobs today, over half say they’re open to new ways of working in the future - freelance, gig work or portfolio careers with multiple jobs. 34% globally are considering self-employment.
93% of Millennials are willing to spend their own time and/or money on further training. The report highlights the positive correlation between people’s career success—being more educated, better prepared for employment and higher paid—and their “learnability,” or ability and desire to learn.
Mara Swan, executive vice president of Global Strategy and Talent at ManpowerGroup and Global Brand Lead for Right Management, said, “Employers need to listen up and get creative. They simply cannot afford not to appeal to Millennials.
“Millennials want progression, but that doesn't have to mean promotion. We need new ways to motivate and engage employees, like facilitating on-the-job learning and helping people move around the organization to gain experience more easily. And what works for Millennials works for the rest of the workforce too.”