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From Recession to Progression: Rise of the Working Millennial

03 February 2017

by Gemma Foley

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Plenty of job ads are targeted at the graduate market – ours included. We value their fresh perspectives, ambitious aims and unwavering pursuit of roles. What people often forget is that today’s graduates actually belong to a wider demographic: Generation Y, otherwise known as ‘millennials’. They’ve gone from being perhaps the recession’s worst affected group to the main component of the labour force, and this is set to continue in 2017.

At the height of the recession, 26.4% of 18-34 year olds weren’t in employment – a far cry from the 14.2% out of work in 2015. The early 2010s marked a period of struggle for millennials, as they sought to build lives despite lower employment levels, mounting student debt and small incomes. So how did this downtrodden demographic turn it around in just six years?

Whether it was fostering a culture of sharing, or balancing what they wanted with what they needed, millennials have manoeuvred the economic landscape carefully. Properties were rented, not bought; marriages and children put off until financially viable. Even tech brought cost-effective benefits, as the digital natives used price-comparison sites, detailed product information and user reviews to seek out the best deals.

Millennials have brought this lateral thinking into the workplace too, with 87% believing a business’ success should be measured by more than just financial performance. In the UK alone, 71% expect to leave their companies within five years, ever moving in their quest for personal and professional growth. Their appeal to today’s employer is this unique marriage of ethics, practicality and a determination to thrive in any circumstance.

If you’re a millennial looking for a new challenge, there’s only one place to call: Oliver James Associates. Contact +44 (0) 161 694 0730 today.

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