Source: EY, May 2015
From the press release:
EY released new research today that shows one third of full-time workers say that managing work-life has become more difficult in the last five years. Younger generations and parents are harder hit than others, plus workers in certain countries.
– New global survey finds top drivers of work-life challenges are stagnant salaries and rising expenses, increasing hours, and more responsibilities at work and at home
– Around the world, approximately half of managers work more than 40 hours a week and four in 10 say their hours have increased in the past five years, millennials’ and parents’ hours climb the most
– US millennials are moving into management, while also becoming parents and working more hours, creating the “perfect storm” for younger generations over the last five years
– US men are more likely than women to change jobs or give up a promotion for work-life management
– Globally parents are more likely to quit over lack of opportunities for advancement than non-parents
– Nearly one in six US millennials say they have suffered a negative consequence as a result of having a flexible work schedule and 38% would “move to another country with better parental leave benefits” …..
Millennials In Today’s Workforce
Source: Diane Rehm Show, May 7, 2015
Millennials – people ages 18 to 34 – today make up the largest share of the U.S. workforce. They have the education and tech savvy companies want, but demand more of their jobs and employers than previous generations. New research shows flexibility is a top concern for millennials in choosing where to take a job – and whether to stay. To attract and retain young talent, many companies are trying to adapt to the needs of this group. That can mean relaxed dress codes, offering the option to work from home, more opportunities for travel and including millennials in business decisions. But as millions of high school and college students prepare to graduate this spring, today’s job market may not give them the freedom they’d like to find meaningful, flexible work. A look at the millennial-majority workforce, and prospects for new graduates.
Meredith Persily Lamel professor, American University School of Public Affairs; management consultant and executive coach
Brigid Schulte staff writer, The Washington Post; author of “Overwhelmed: Work, Love and Play When No One Has the Time”
Lauren Rikleen president, Rikleen Institute for Strategic Leadership; executive-in-residence, Boston College Center for Work & Family; author of “You Raised Us – Now Work With Us: Millennials, Career Success, and Building Strong Workplace Teams”
Anthony Carnevale director and research professor, Center on Education and the Workforce at Georgetown University