Generation Y keen to head overseas and escape slowing Australian economy

September 29, 201510:41 am1036 views

Generation Y is saying “catchya ‘straya” as they head overseas to escape our country’s slowing economy and rise in unemployment, a new report shows.

Recruitment firm Robert Walters has found almost nine in 10 Millennials working in Australia and New Zealand want to head overseas to work.

Despite this, of over 400 employers surveyed, three in four said they did not offer these opportunities.

Robert Walters ANZ managing director James Nicholson said speculation of economic downturn and rising unemployment was motivating Gen Y to go international with their job prospects.

“Millennials, or Gen Y, have grown up in a borderless world with greater access to international travel, so their sights are set high to begin with,” Mr Nicholson said.

“With a lot of discussion around economic downturn locally, we are seeing a reverse trend from the post-GFC period when we were dealing with an influx of foreign workers looking for gainful employment.”

He said it was alarming organisations were not offering overseas opportunities which Gen Yers viewed as critical to career growth.

Career expectations causing conflict

The whitepaper also found that just over half of Millennials have experienced or witnessed inter-generational conflict at work.

Eight out of 10 employers believe the biggest source of conflict stems from younger generations’ expectations of rapid career progression.

All three employee generations surveyed – Millennials, Gen X and Baby Boomers – agreed the main source of inter-generational conflict was “difference in expectations of organisational values”.

One in four Millennials said conflict also arose from older generations’ reluctance to use new technologies.

Despite this, the survey found Gen Y was less attached to technology than employers might expect.

While 87 per cent of employers thought Millennials would leave an organisation if it did not invest in emerging technologies, just over half of Millennials said they would consider leaving their job for this reason.

Other findings showed a third of Gen Yers work because they want to earn money to support their lifestyle, while another third said it was to fulfil their potential.

Salary and benefits meeting expectations was the most important factor when choosing a job, closely followed by career progression opportunities.


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