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. 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).
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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.