Millennials favour Big Four firms and large businesses

Research from the Association of Chartered Certified Accountants (ACCA) has revealed the most popular sectors that millennials working for small-medium businesses would like to move to.

Big Four firms and large businesses both topped the list at 21 per cent.

Opportunities

The global study explored the aspirations of millennials working for small accounting firms and found that 67 per cent would like to leave the small-medium sector. 33 per cent would like to continue working for a small-medium firm.

The study also found that 22 per cent of millennials in the UK who are working for a small-medium business would like to move to another job role in the next year. 54 per cent would like to change their job in the next two years.

The study also showed that 21 per cent of millennials in the UK are attracted to an employer that provides opportunities for skills development, with this figure rising to 94 per cent globally.

Skills development and career progression opportunities are the most attractive to millennials, with these being cited by 94 per cent and 92 per cent respectively.

More than 80 per cent of respondents also believe that having a background of working in finance will be valuable to business leaders in the future.

78 per cent see themselves working in the accounting and finance sector for the long-term future.

Focused

ACCA Head of SME Policy Ben Baruch commented: “The aspirations of younger professionals working in small-medium firms are focused on gaining more seniority and leading a team within finance.

“On-the-job training and mentoring are seen as the most effective learning activities. If employers are to retain the best and brightest, they must look to develop effective talent management strategies that are suited for a generation with ambition.”