Contradicting many myths about millennials and work, a new Allianz survey has found that most desire stability and security in their career path. An Allianz survey on millennials has established that 80 percent of American millennials prefer work that provides this. In India, it is 75 percent and in the UK, Germany and China, it is 70 percent.
This contradicts an impression of millennials as embracing the gig economy. About 15 percent do enjoy the freedom and flexibility the gig economy is said to offer, but the clear preference is for permanent positions and the benefits enjoyed by the generation of their parents.
“Millennials are sometimes portrayed as opportunistic job hoppers lacking in company loyalty,” says Dominik Hahn, Global Head of People Attraction at Allianz. “The survey clearly shows this is unfair. If their behavior contradicts their expressed desires, then it is because of circumstances and not preferences.”
Hahn explains that millennials are responding to the changing reality of work, where a person can no longer rely on an employer for an entire career. If careers are becoming less predictable, then individuals need to take charge of their career.