DeLoitte Touche Tohmatsu Ltd. has just released its third annual Millenial survey with results indicating Generation Y youths prefer to work for organisations that foster innovative thinking in order to contribute positively to society.
The survey results, released from Davos, Switzerland as the January 22 to 25 World Economic Forum 2014 Conference was ongoing, said that to attract and retain talent from this generation, businesses and other organisations must show Millennial youths that they are in tune with their world view.
The survey of Millenials or GenYers, youths born from January 1983 onwards, has now become an annual undertaking by DeLoitte, described by Wikipedia as among the four largest professional services firms in the world.
A press statement by DeLoitte said the results were based on online interviews of more than 7800 Millennials from 28 countries from October 10 to November 11,2013.
Around 300 interviews were done in each of these countries.
Explaining the significance of the study, the press statement pointed out that Millennials will make up 75% of the global work force by 2025.
It further noted that members of this demographic cohort already emerging as leaders in technology and other industries.
The survey showed that 78% of Millennials are influenced by how innovative a company is when deciding if they would want to work there.
At the same time, they said their current employer generally does not encourage them to think creatively.
Cited by them as the biggest barriers to innovation in organizations were the following:
- Management attitudes, 63%
- Operational structures and procedures,61%
- Employee skills, attitudes and lack of diversity,39%
The survey also noted that 70% of Millennials may in the future prefer to work independently through digital means.
DeLoitte is into auditing, tax consultancy, enterprise risk assessment and financial advisory services worldwide even as its head offices are in New York.
Millard and Brown, a UK-listed limited company did the survey in conjunction with DeLoitte.
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