More than seven in 10 (71%) UK millennials plan to leave their job within the next five years, according to a report from Deloitte.
Millennials and their employers: Can this relationship be saved? found that the UK has a higher than average percentage of millennials planning to change jobs in the next five years, with the average in developed economies standing at 61%.
Almost two-thirds (63%) of millennials felt their leadership skills were not being fully developed, and 71% of those expecting to leave their employer in the next two years were unhappy with how their leadership skills are being developed. This is 17 points higher than among those intending to stay beyond 2020.
Progression was also a concern for young employees. Half (50%) of male and 48% of female respondents said they were “being overlooked for potential leadership positions". However, millennial men (21%) were found to be significantly more likely than women (16%) to say they lead a department or are members of the senior management team.
Millennials continue to hold business in high regard; three-quarters (73%) maintained that the business world has a positive impact on wider society, a figure unchanged since 2014.
Punit Renjen, global CEO of Deloitte, said that millennials have provided a roadmap of how employers can meet their needs. “A generation ago many professionals sought long-term relationships with employers, and most would never dream of saying ‘no’ to supervisors who asked them to take on projects,” he explained. “But millennials are more independent and more likely to put their personal values ahead of organisational goals.
“They are re-defining professional success, proactively managing their careers, and it appears that their values do not change as they progress professionally, which could have a dramatic impact on how business is done in the future,” Renjen added.