Boomers Want More Respect/Gen Y Not Getting Enough Mentoring
TORONTO, Sept. 1, 2011 /CNW/ - A large group of working Canadians at
both the beginning and end of their careers feel companies are missing
the mark in terms of what they need and want, according to the third
annual Labour Day poll by Monster.ca.
The survey conducted by Harris/Decima of over 1,000 Canadian baby
boomers (aged 47-62) and members of generation Y (aged 18-30) shows
they share a common complaint that companies are falling short:
● More than 1 in 3 twenty-somethings feel companies do not provide
sufficient mentoring, while almost 1 in 2 boomers agree;
● More than 1 in 3 in both generations agree that companies do not
use younger workers to their full potential;
● More than 1 in 3 in both generations also believe companies lack
vision, and fall short in productivity.
"We know that there are a lot of companies who do a great job at keeping
employees happy and engaged," said Peter Gilfillan, Senior Vice
President of International Sales and General Manager of Monster Canada.
"In order to retain the best and the brightest among both the gen Y and
boomer generation, leading companies need to find the sweet spot that
matches workers' values with their business objectives."
The survey helps illustrate where boomers and their gen Y offspring
believe companies can do more. Nearly 1 in 3 boomers do not feel
companies treat workers nearing retirement with respect. Both
generations cite better management, and improved organizational
structure as changes they'd like to see. However, despite their
workplace concerns, 75% of young people, and 82% of boomers say they
are satisfied with their current job.
Careers Expectations Falling Short for Gen Y
Many twenty-somethings weren't able to get a job in their preferred
field (40 per cent), and well over 1 in 3 expects to change jobs 5 or
more times before they retire.
The good news is that boomers and the younger generation are really
clear in what they look for in their career. Both generations equally
value work life balance more than anything, with 97 per cent in both
age groups saying it's important. Making good money is just as
important for twenty-somethings (97 percent) followed by -job security
(96 per cent), opportunities for advancement (95 per cent) and
flexibility in where and when they work (91 per cent). While the
majority of boomers have the same priority list, a cool, fun company
culture is more important to young people at 88 per cent, than it is to
boomers, with 77 per cent saying it is important.
Money The Great Motivator
While boomers and twenty-somethings have similar values, they go to work
for different reasons. Twenty-somethings are twice as likely as boomers
to say money motivates them at work. By contrast, boomers are twice as
likely to say helping others and enjoyment of their work motivates
them. Both groups identify team spirit as a motivating factor. However,
boomers also concede that they are not working for the sheer joy of it.
As many as 6 in 10 say they are working for financial reasons rather
"These findings are a real wake up call to companies," said Dr. Linda
Duxbury, an expert in workforce generational differences at Carleton
University's Sprott School of Business. "There's a huge gap between
what both generations want and what companies are delivering. If
companies don't step up, they risk losing valuable workers, both among
the young and older."
Harris/Decima surveyed 501 baby boomers (aged 47 to 62) and 501 members of Generation
Y (aged 18-30) using their online panel. To qualify for the survey,
respondents had to be employed full or part time. The survey was
conducted from July 27th through August 12th, 2011.
About Monster Worldwide
Monster Worldwide, Inc. (NYSE: MWW), parent company of Monster, the
premier global online employment solution for more than a decade,
strives to inspire people to improve their lives. With a local presence
in key markets in North America, Europe, and Asia, Monster works for
everyone by connecting employers with quality job seekers at all levels
and by providing personalized career advice to consumers globally.
Through online media sites and services, Monster delivers vast, highly
targeted audiences to advertisers. Monster Worldwide is a member of the
S&P 500 index. To learn more about Monster's industry-leading products
and services, visit www.monster.com. More information about Monster Worldwide is available at http://about-monster.com.
For further information:
Robert Waghorn, firstname.lastname@example.org 514-240-0758
Danna O'Brien, email@example.com 416-500-0699