MAYFIELD VILLAGE, Ohio--(BUSINESS WIRE)--Despite rising salaries and the dearth of tech talent, millennials in the IT and tech industries are not just in it for the money. According to a recent survey from Progressive® Insurance, 81 percent of millennials interested in a new job in IT would accept a less attractive compensation package to do work they were more passionate about.
The survey also revealed that 82 percent of millennials interested in IT are willing to relocate for a job they’re interested in, and on average, they would be willing to move more than 600 miles.
“With nearly 3,500 tech positions at Progressive, it’s important for us to invest in what makes this demographic tick to ensure we’re poised for attracting the top talent,” said Lynley Williams, recruiting director for Progressive Insurance. “By and large what we found is that millennials interested in IT want a job that allows them flexibility and growth opportunities, and which inspires them. The great thing is, we’re already there. Some of the things our tech employees tell us they like best about Progressive are our college campus-like atmosphere; our risk, learn and grow culture; and our dedication to continuous innovation – one example of that is the Business Innovation Garage we opened on-campus this year.”
Employers take note: Respondents said they would prefer flexibility over a salary increase, with nearly three in five (58%) reporting they would rather have a more flexible work arrangement – such as working remotely – than a job that pays 20 percent more. Additionally, 70 percent reported they are not satisfied with growth opportunities at their current job and are not afraid to move on quickly.
In fact, nearly 1 in 5 would consider applying for a different job a month or less after starting a new job, with a total of 59 percent considering applying elsewhere within six months. On average, respondents said they visit online job boards or company career pages six times per week and receive an average of six messages from recruiters.
The survey was conducted by Wakefield Research on behalf of Progressive and surveyed 1,000 U.S. Millennials interested in IT jobs.
Other notable findings from the survey include:
- Opportunities abound in IT. More than 2 in 5 respondents (42%) feel the insurance industry offers excellent opportunities in IT, following finance and banking (61%) and healthcare (47%), respectively.
- Millennials are more idealistic than their parents when it comes to their jobs. 87 percent of respondents feel they are more prepared to make an immediate difference at a new job than their parents’ generation.
For more information and an infographic detailing these and other insights, visit: http://at.progressive.com/firsthand-experiences/millennials-in-it
The Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach it whenever, wherever and however it's most convenient—online at progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.
Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. Home insurance is underwritten by select carriers, including its majority-owned subsidiary, American Strategic Insurance (ASI).
Progressive is the fourth largest auto insurer in the country; a leading seller of motorcycle and commercial auto insurance; and through ASI, one of the top 20 homeowners carriers. Progressive also offers car insurance online in Australia at http://www.progressiveonline.com.au.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at (NYSE:PGR).
The Progressive Millennial Workplace Survey was conducted by Wakefield Research (www.wakefieldresearch.com) among 1,000 U.S. adult Millennials interested in IT jobs between June 17th and June 22nd, 2015, using an email invitation and an online survey.
Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.