February 27, 2013
The Generation that put the Y in N-E-E-D-Y is the subject of yet another survey, this time one reporting that its members view themselves as less entrepreneurial and more risk averse than either Generation X (30-49 year olds) and the baby boomer generation (50-69). The survey of nearly 3,000 people by monster.com and Millennial Branding found that just under a third (32%) of Gen Y workers consider themselves to be entrepreneurial, compared to 41% of Gen X staff and 45% of baby boomers. Similarly 28% of Millennial respondents identified themselves as not being averse to risk compared to 40% of Gen X and 43% of boomers.
More than half of Gen Y employees (55%) claimed that their current employer was a mere stopping off point on their career path. However the report did highlight just how keen Gen-Yers are to work on projects not directly related to their own job. Just over 40% of respondents claimed they had opportunities to cary out this kind of work although many (23%) felt that their line managers didn’t appreciate the need to encourage them to work on other projects.
Launching the report, Dan Schawbel of Millennial Branding said: “The internet has created unique entrepreneurial opportunities, not just for Millennials but for all generations of workers. We don’t see the same barriers to entry to starting a new business as we saw 10 years ago.”
This survey revealed that the entrepreneurial spirit resides in all of us and across all generations of workers,” said Jeffrey Quinn, vice president, Global Monster Insights. “We are seeing more and more people across generations starting their own businesses as alternatives to traditional jobs or careers. Employer retention strategies could benefit from creating environments that encourage entrepreneurial culture and opportunities for workers.”