January 15 ,2016 | by Claire Payne

Majority of Millennials planning to change job, shows research

Majority of Millennials planning to change job

According to a report from Deloitte, 71% of the UK's millennials intend to leave their current job within the next five years.

The age group 18 to 24 also sees two-thirds (63%) believing their leadership skills are not being fully developed in their current roles.

UK high

Echoing a similar study conducted by LSBF in 2015, the Big Four firm's study reveals that the average in developed economies for millennials planning to change jobs in the next five years is 61%, meaning that the UK figure could have a potential effect on the country's economy.

Job progression was a concern with those polled, as 50% of the male and 48% of the female respondents said they were “being overlooked for potential leadership positions."

However, the age group generally holds business in high regard, as 73% believed that the commercial world has a positive impact on wider society.

Personal values

Deloitte global CEO, Punit Renjen, said: “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.”

“But millennials are more independent and more likely to put their personal values ahead of organisational goals," he explained.

Renjen added that these young employees seemed to be redefining professional success whilst proactively managing their careers.

He concluded that as their values don't seem to change as they progress in their chosen professions, it could have a dramatic impact on how business is done in the future.

Claire Payne

Claire Payne is a journalism graduate and News Writer for LSBF. She writes about SMEs, education and careers, entrepreneurship, women in business, and sustainability.

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