Half of Gen Y'ers Want An Employer They Can Stick With

Highlights

  • More than half of Gen Y'ers (54 percent) want to find an employer with which they can spend their entire working career.
  • Gen Y put work/life balance as their primary career goal.
  • Fifty-nine? percent of Gen Y'ers are looking for work at a major corporation.
There have been quite a few terms used to describe the Generation Y worker. Some good (entrepreneurial, socially conscious, tech-savvy') and some not so good (demanding, lazy, entitled...) Within the long list of descriptors, the word 'loyal' has rarely, if at all, been mentioned. Yet, the From Learning to Work: Canada's Campus Recruitment Report, a study from Workopolis.ca and research consulting firm DECODE, and the 'Global Career Mindset Study' from YSN.com show a different, more work-devoted side of Gen Y.

Long-Term Goals

Despite what most of us have read, Gen Y, or the Millennials, or the Net Generation (depending on which term you prefer) may be more focused on their long-term career paths than commonly perceived. The From Learning to Work 2008 survey of 27,000 college and university students across Canada found that this group put a higher value on career stability than anything else. Even more surprising, more than half of respondents (54 percent) want to find an employer with which they can spend their entire working career. The Gen Y'ers also listed their top-choice employers, picks that indicate their desire for stability. The top choices were the Canadian government and Health Canada, at number one and two respectively. These were followed by Google, provincial government in Canada, and Apple. In line with what has been previously been reported about Gen Y, respondents surveyed also put work/life balance as their primary career goal.

Having good people to work with is a crucial factor in their choice of workplace, suggesting that culture plays a large role in whether or not a Gen Y'er will stick with their employer long term. A good starting salary was also a priority. Yet, 72 percent would forego some of their prerequisites if the job is perceived as being a good starting point for their career. But, there's a catch: They're not willing to wait around for a promotion. Sixty-four percent expect to be promoted within 18 months. YSN.com (which stands for 'your success network'), a site founded to support the needs of young people entering the workforce, surveyed students in 50 countries for its Global Career Mindset Study. This studied showed that 25 percent of respondents expect to find jobs they love by age 25. In fact, 65 percent would rather have their dream jobs than their dream spouses, the study showed. More than half (59 percent) are looking for work at a major corporation (again revealing a desire for stability), while 30 percent plan to start their own business. And Gen Y is willing to go abroad to follow their career dreams. Fifty-five percent are looking for opportunities outside their native countries. Twenty percent are looking for work at home. Seventy percent would rather travel the world than have their dream home, furthering indicating their interest in travel. North America ranked first of the preferred destinations for Gen Y worldwide.

Learn more about the From Learning to Work: Canada's Campus Recruitment Report here. Get more insights into Gen Y at YSN.com.

Written by: Bright Horizons Blog Editor

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The Bright Horizons Blog Editor frequently posts on the real solutions that meaningfully support employees, advance careers, and drive the world’s leading brands. The Editor curates the latest news, trends, and challenges facing HR pros because your time is scarce. Follow the Bright Horizons Blog to receive this insight in your inbox.