Millennial Careers:
2020 Vision
Facts, Figures and Practical Advice
from Workforce Experts
2| Millennial Careers: 2020 Vision
Q
WE ASKED MILLENNIALS
ABOUT CAREERS
much of a priority is skills development
plan career breaks along the way
what would make you stay with an employer
CONTENTS
FACTS & FIGURES
Intro | 3
Training for a Career Ultramarathon | 5
Should I Stay or Should I Go Now | 8
New Ways of Working | 11
PRACTICAL ADVICE
Learnability | 13
Practical Advice | 16
An Expert Perspective | 17
Facts, Figures and Practical Advice from Workforce Experts |3
35%
Gen X
35%
Millennial
24%
Gen Z
6%
Boomer
By 2020 Millennials will make up
over a third of the global workforce.
By 2020 Millennials will make up over a third of the global workforce.
That’s one reason so many reports about them exist. Some say they are
disloyal, self-absorbed and lazy, while others claim they’re a generation
of digital entrepreneurs and innovators. Some aim to dispel the myths
others have created. Just type “Millennials are…” into a Google search
to see the stereotypes.
This is not just another Millennial report. This report presents
new fndings with fresh insights from the perspective of both
employers and employees. As world of work experts, we have nearly
30,000 employees advising 400,000 clients on hiring decisions and
talent development every year. We fnd work for 3.4 million people—
about half of whom are Millennials.
We carried out quantitative research across 25 countries surveying
19,000 Millennials, including 8,000 ManpowerGroup associate
employees and more than 1,500 of our own hiring managers. We asked
what they look for in a job, what development opportunities they seek
and what would make them stay with an employer.
We wanted to understand how different they are or aren’t from
the rest of the workforce and from generations before them. We
wanted to ensure that the sample represented all working Millennials;
not just the top percent of tech-savvy earners, but also the graduates
and non-graduates across all industries, income and education levels.
The time is ripe for employers to take a fresh look at their people
strategies. This report is the frst in a series providing a practical guide
with clear recommendations for employers on how to attract, retain,
develop and motivate the best Millennials for the 21st century workforce.
GLOBAL
WORKFORCE
by generation in 20201
INTRO
1 ManpowerGroup’s analysis of UN population data. The term
Millennial is interchangeable with Generation Y and refers to
those born between 1982 and 1996, ages 20-34.
4| Millennial Careers: 2020 Vision
THE CAN DO, WILL DO GENERATION
In the Human Age2, Millennials are both shaping and being shaped by the
world of work. They are redefning the employer-employee relationship.
As the offspring of parents whose jobs became increasingly less secure in the
70s, 80s and 90s, they entered the labor market during a global recession with
record youth unemployment, faster-changing business cycles, and increasing
demand for new skills for which they are often told they lack the necessary
education. So how do they feel about the world of work
Millennials are surprisingly upbeat about their careers. Two-thirds are
optimistic about their immediate job prospects. Sixty-two percent are confdent
that if they lost their main source of income tomorrow they could fnd equally
good or better work within three months. Overall, Millennials in Mexico, China,
Switzerland and Germany are the most positive, while those in Japan, Greece
and Italy are the least positive—a refection of economic, political and cultural
factors in these countries. The majority of Millennials globally see a promising
future and successful careers ahead.
Pessimistic / Not Confident
Optimistic / Confident
HOW CONFIDENT ARE MILLENNIALS ABOUT THEIR CAREER PROSPECTS
70% - 80%
60% - 69%
China, Germany, India, Mexico,
Switzerland, US
Australia, Brazil, Canada,
Netherlands, Norway, Spain, UK
50% - 59% France, Singapore
40% - 49% Greece, Italy
30% - 39% Japan
2The Human Age, ManpowerGroup, March 2011.
The Human Age is defned as a new era in
which talent overtakes capital as a key
economic differentiator.
FACTS & FIGURES
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