Aussie Millennials Will Change Retirement, Says Study

If older generations still think we’re lazy, they’re dead wrong. The Millennial Careers: 2020 Vision study conducted by ManpowerGroup reveals that Australian Millennials are prepared to work for much longer than our parents.

The study surveyed 19,000 Gen Y participants from 25 countries in an effort to understand the attitudes and aspirations of young workers. By 2020, we’ll make up a third of the global workforce, as will Generation X.

Two thirds of respondents said they’re expecting to work past the age of 65, 36 percent are bracing for careers that stretch into their 70’s and 11 percent think they’ll be working until they cark it. How depressing.

How are we expected to do this, you ask? The study suggests we’ll be taking some career ‘mini breaks’ to keep us going. I think they’re referring to what we would call your standard Europe trip. 88 percent of respondents saw themselves taking breaks that spanned more than one month.

But one way that we come out on top is working hours, with the average weekly hours of those surveyed clocking in at 41, behind the global average of 45.1.

We’re also pretty optimistic about job security in our careers, with 70 percent believing they could find a new job that offered the same pay within 3 months if they lost their current position.

“This generation, more so than any before them, is keen to expand their skill sets and areas of expertise to align to future business need and fulfil their aspirations. Millennials want progression, but that doesn’t have to mean promotion,” says ManpowerGroup managing director of Australia and New Zealand Richard Fischer.

In a world of increasing disruptive technology, we don’t only want broader skill sets, we need them. More and more companies are opting for lean structures in order to maximise profits, employing fewer employees with higher skills.

This notion is supported by the study, with 69 percent of respondents willing to use their own resources for further training, while 78 percent said that ongoing skill development was crucial to their career.

Salary came in at the most important career factor (92 percent), followed by job security (88 percent) and holidays and time off (87 percent).

Brb, going to work.