More than three-fourths of U.S. millennial workers who quit their job doso because of minimal wage growth, according to a new study byErnst & Young in New York City. Nearly 9,700 full-time workersin eight nations participated in the online survey.
“Knowing that millennials and parents are under increasingpressure, we wanted to understand what employees seek in a job and why they quit,why they stay and how this differs by generation,” said KarynTwaronite, EY global diversity & inclusiveness officer.
The reasons why millennials quit vary from country to country.The top five reasons in the United States are:
- Minimal wage growth (78%)
Lack of advancement opportunities (75%)
Excessive overtime hours (72%)
An environment that doesn't encourage teamwork (66%)
A boss who doesn't allow flexibility (66%)
An employee's family situation is another important factor.Parents are more likely than non-parents to mention a lack ofopportunity to advance as a reason to quit, which shows continuedcareer ambition after having children. Parents also are more likelyto emphasize flexibility issues.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
