MILLENNIALS

Changing Views in the Workplace—Zions Bank
November 17, 2009

A new study has found that the global recession is changing the way Millennials (ages 18-29) view the workplace. Researchers found that the youngest generation in America's offices are fearful of unemployment but also expect fewer promotions and don't have the desire to reach the top of the workforce ladder.

Over half (55 percent of Millennials have experienced a layoff or loss of work in their family within the past year, and nearly three-fourths, or 72 percent) feel threatened by a possible layoff or loss of work in the coming months, according to research conducted by Lumin.

Further statistics show 66 percent of Millennials say they have lowered their expectations of being promoted versus 51 percent of other workers. Despite increased fears over job security, Millennials are saving and investing less money and increasing their credit card debt more than any other adult generation.

"As a generation, Millennials are still optimistic and ambitious but the pressures of the current economy are reshaping our approach and outlook on our relationships with our employers," said Lauren Begley, a Millennial and account executive at Peppercom. "It may have taken one of the most severe economic contractions since the Great Depression, but we are finally learning to be more realistic about getting ahead and surviving in workplace..."