HARTFORD, Conn.--(BUSINESS WIRE)--As the 80 million Millennials (ages 18-33) start to play a larger role in the U.S. workplace, they aspire to lead in business in the next five years, according to The Hartford’s 2014 Millennial Leadership Survey.1 Millennials also said training is the best way employers can demonstrate an investment in them.
The survey showed 83 percent of Millennials currently consider themselves leaders and 73 percent aspire to be leaders in the next five years. Specifically, the workplace is where they want to lead. Thirty-four percent of the Millennials surveyed said they are business leaders today, but 59 percent aspire to be leaders in business in the next five years.
“The Hartford’s research has consistently shown Gen Y is a giant generation of go-getters who want to take charge but also yearn for training and mentoring,” said Lindsey Pollak, workplace expert and author of the forthcoming “Becoming the Boss: New Rules for the Next Generation of Leaders” published by HarperCollins on Sept. 16. “Millennials are expected to comprise a majority of the U.S. workforce by 2020,2 which makes leadership development a critical issue for organizations large and small.”
For two years, Pollak has served as spokesperson for The Hartford’s My Tomorrow Campaign, a national initiative to help Millennials understand their benefits and help employers understand their Gen Y employees. Pollak’s new book includes the group benefits provider’s research, as well as leadership insights from The Hartford’s Chairman Liam E. McGee and Lori High, chief marketing and sales officer for The Hartford’s Group Benefits business. The Hartford is providing copies of “Becoming the Boss” to thousands of its employer clients and broker partners. In addition, a complimentary chapter of the new book is available on The Hartford’s My Tomorrow Campaign website.
“Our research shows Millennials are hungry for information, products and services that help them reach their personal and professional goals, and that is one of the reasons why we contributed to Lindsey’s new book on leadership,” said High. “Employers have an incredible opportunity to help Millennials become the boss and protect their potential.”
In the national survey, Millennials said employers can demonstrate their investment in them as a future leader by offering training and development (50 percent), a clear career path (35 percent), and ongoing coaching and feedback (34 percent).
Work/life balance (47 percent) is the issue that the Gen Y survey participants would tackle in the workplace as a leader, followed by leadership training (33 percent). When asked about what an employer could offer to retain young employees, Millennials said:
- Flexible work schedule (58 percent);
- Merit-based salary increase every six months (41 percent); and
- Insurance benefits (38 percent).
Pollak will share additional survey findings and advice during a webinar at 12 p.m. EDT on Thursday, Sept. 18. During the webinar, she will also participate in a discussion on Millennial leadership with:
- Maisha Cannon, a recruiter who has worked with LinkedIn and Google and writes The Strategic Recruiter blog; and
- Tammy Tibbetts, the founder of She’s The First, a non-profit organization that funds scholarships to girls in low-income countries so that they can be the first in their families to graduate from high school.
Joe DiMuccio, the co-lead of The Hartford’s young professional employee resource group called the YoPros, will moderate the discussion. Click here to register for the webinar.
About The Hartford
With more than 200 years of expertise, The Hartford (NYSE:HIG) is a leader in property and casualty insurance, group benefits and mutual funds. The company is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at www.thehartford.com. Join us on Facebook at www.facebook.com/TheHartford. Follow us on Twitter at www.twitter.com/TheHartford.
The Hartford® is The Hartford Financial Services Group, Inc. and its subsidiaries, including issuing companies, Hartford Life Insurance Company and Hartford Life and Accident Insurance Company. Its headquarters is in Hartford, Conn.
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2013 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
From time to time, The Hartford may use its website to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at http://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at http://ir.thehartford.com.
- The Hartford’s 2014 Millennial Leadership Survey is a national omnibus survey of 785 U.S. consumers, ages 18-33, who have attended some college at a minimum. Interviewing was conducted on behalf of The Hartford using ORC International’s Millennial Generational CARAVAN® Omnibus in July 2014. This is the second year of the survey.
- Millennials at work report by pwc