Gen Y Millennials the most ambitious, notes study

21 Mar,2014

By a correspondent

 

MSLGROUP’s latest report ‘The Millennial Compass’, based on original research across the globe, has found Gen Y talent in Asia to be anything but corporate-minded and intensely ambitious. The study notes that Millennials in India are the most ambitious – 37 per cent of those surveyed expect to be in a management position within one year of graduating and 25 per cent expect to be in senior management positions or running their own business within two years. Likewise for Chinese Millennials, 19 per cent expect to be managers after two years. The study further states that Millennials in India and China have the highest percentage of young managers – 78 per cent of managers in China and 75 per cent for India are Millennials (under 30) or late Gen Y (31-40 years old).

 

“The research dispelled popular belief that Millennials have a relaxed attitude about work because of their high demand on work-life balance. Millennials view themselves as ambitious, hardworking, and with strong work ethics. They are uncomfortable with rigid corporate structures and expect rapid progressions. Especially for young talent in ultracompetitive markets such as China and India, who entered the workplace when the region’s economy began to take off. Anything is possible for the Gen Y in Asia. They are more engaged and aggressive than ever, with a strong desire to make their mark in the business world,” said Parveez Modak, MSLGROUP’s Regional Practice Leader, Asia for Employee Communications & Engagement.

 

Equally surprisingly, Millennials in Asia value global work experience much more than their Western counterparts- 65 per cent of Millennial in India and 47 per cent in China plan to get international work experience in the next five years. On the contrary, only 18 per cent of respondents in the US and 29 in the UK and 28 in France have foreign work in their minds. Gen Y workers in Asia believe that international work experience places them on a fast track in the company and contributes to personal empowerment, while their Western counterparts tend to undervalue the need for global career experience. Gen Y employees in the West seem to believe that their online connections with friends around the world count as global professional experience.

 

“With the dramatic growth of educated and successful Millennials in Asia and other parts of the world, multinationals have a much greater talent pool from which to hire and this opens up great global opportunities for Gen Y workers from India, China and Latin America,” said Brian Burgess, Global Co-Director, Employee Practice, at MSLGROUP.

 

With data and interviews from China, India, France, Brazil, the UK and the U.S., MSLGROUP’s six-country study offers rich insights into the Millennial generation’s attitudes and expectations in the workplace globally today. As well as the major disjuncture around global work experience, the research also clearly confirms one long-held hunch: Loyalty is not a particularly strong work value for Millennials, with 43 per cent of surveyed Indian and 28 per cent Chinese Gen Y intend to leave their organizations in the next two years. Millennials across the board have a strong preference for a less hierarchical relationship with their boss.

 

The study was conducted in partnership with the UK’s Ashridge Business School, one of the top schools internationally for executive education.

 

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