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 five years, according to a new survey.
The Hartford’s 2014 Millennial Leadership Survey found that millennials, who are expected to comprise a majority of the U.S. workforce by 2020, also believe training is the best way employers can demonstrate an investment in them.
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 five years.
“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, author of the forthcoming “Becoming the Boss: New Rules for the Next Generation of Leaders.”
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, the millennials said:
- Flexible work schedule (58 percent);
- Merit-based salary increase every six months (41 percent); and
- Insurance benefits (38 percent).
Pollak is spokesperson for The Hartford’s My Tomorrow Campaign, which seeks to help millennial workers understand their benefits and help employers understand their Gen Y employees. Pollak’s new book includes leadership insights from The Hartford’s Chairman Liam E. McGee and Lori High, chief marketing and sales officer for The Hartford’s Group Benefits business.
The Hartford is providing copies of “Becoming the Boss” to its employer clients and brokers.
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