Like what you’re reading? Stay in touch with BizPhilly — here’s how:
Millennials: Job Market Was Better for Our Parents
Infosys, a global consulting firm, has released the results of a global survey it conducted on everyone’s favorite topic — millennials in the workforce. (There’s been a heck of a debate raging here at Philly Mag. Some say those self-interested millennials are killing the workforce as we know it. Others think it’s great that they’re speaking up for themselves in an era where pensions are nearly gone and employees get laid off with little to no notice.)
Anyway, the Infosys report finds that the millennial generation of employees, particularly in the United States, are cautiously optimistic, embrace the growth of technology and seek stability at work. The study, titled “Amplifying Human Potential: Education and Skills for the Fourth Industrial Revolution,” surveyed 1,000 people ages 16-25 in nine different countries around the world.
American millennials feel somewhat conflicted about the job market they’re entering. After coming of age in The Great Recession, they generally feel that job prospects are not as good as they have been in previous years. In fact, 55 percent of men and 69 percent of women agree with the statement: “Job prospects for young people are worse than they were for my parent’s generation.”
That being said, things aren’t entirely bleak, as 25 percent of American millennials said they’re “very optimistic” and 34 percent are “optimistic” about their own job prospects.
The generation is also in agreement on the importance of technology in the workplace in coming years. Sixty-three percent agree that “people who are not skilled in technology will find it increasingly hard to get a job in the future.” Additionally, 40 percent of respondents think that a robot or artificial intelligence program could be able to do their job 10 years from now. As a result, the study overwhelmingly shows that respondents expect to learn completely new skill sets over the course of their careers to retain employment.
It’s also interesting to note the types of companies millennials want to work for. More than one-quarter (26 percent) said that they would prefer to work at a large company. Only 8 percent said they would like to work at a startup. Of those who responded that they would like to work for a large company, 58 percent said it’s because they felt it could help make them financially secure.