The report ÛÒ The female millennial: A new era of talent ÛÒ reveals that the female millennial is much more likely to believe she can reach the very top levels with her current employer, particularly those starting their careers (49%). The female millennial ranks opportunities for career progression as the most attractive employer trait (53%); making her more career-confident and ambitious than previous generations.
To mark International WomenÛªs Day on March 8, 2015, PwC surveyed 8,756åÊFemale millennials (women born between 1980–1995) from 75 countries to find out how they feel about the world of work and their careers.
The report ÛÒ The female millennial: A new era of talent ÛÒ reveals that the female millennial is much more likely to believe she can reach the very top levels with her current employer, particularly those starting their careers (49%).
The female millennial ranks opportunities for career progression as the most attractive employer trait (53%); making her more career-confident and ambitious than previous generations.
Of the female millennials who are in a relationship, 86% are part of a dual career couple, with 42% earning equal salaries to their partner or spouse. And almost a quarter (24%) are the primary earners in their relationships.
When it comes to diversity, 86% of female millennials seek out employers with a strong record on diversity, equality and inclusion ÛÒ and while they say employers talk about diversity, 71% do not feel opportunities are really equal for all.
WhatÛªs more, 43% of female millennials believe employers are too male biased when it comes to promoting employees from within ÛÒ up 14% since 2011.
Dennis Nally, Chairman of PwC International, says: ÛÏOur research shows that when it comes to the female millennial, we really are talking about a new era of female talent. Female millennials are more highly educated and are entering the workforce in larger numbers than any of their previous generations.åÊ But, this is not the only thing that has changed.åÊ They also enter the workforce with a different career mindset.Û
As the experience of a 34-year-old millennial woman with 12 yearsÛª work experience will be very different to that of a 22-year-old millennial woman just starting out in her career, the report looks at the insights and desires of the female millennial by career stage: career starters (female millennials with 0ÛÒ3 yearsÛª work experience), career developers (4ÛÒ8 yearsÛª work experience) and career establishers (9 or more yearsÛª work experience).
AgnÌ¬s Hussherr, PwC Global Diversity Leader, says: ÛÏWhen it comes to earning power and patterns, female millennials really are trail blazers, with 66% of female millennials in a dual career couple earning as much as or more than their partner or spouse.åÊ The more experienced the female millennial, the more likely she is to be the primary earner in her relationship. Our study found that 31% of female millennials with 9 or more yearsÛª experience are the primary earner in their relationship, compared to 18% of millennial career starters and 24% of career developers.Û
ÛÏOur research also dispels some significant myths, for example that women leave work to have families,Û she adds. ÛÏThe female millennial was least likely to have left a former employer because she was starting a family, and most likely due to a lack of career opportunities. Employers must commit to inclusive cultures and talent strategies that lean in to the confidence and ambition of the female millennial from day one of their career.Û
More highlights of the PwC report include:
- The millennial generation can be expected to drive unprecedented shifts in organizational culture, with significant demand for work life balance and flexibility from 97% of female and 97% of male millennials.
- The female millennial expects real-time, high-quality, future-focused feedback and despite being extremely tech-savvy, prefers critical feedback discussions to take place face-to-face.
- Female demand for international experience has never been higher with 71% of female millennials wanting to work outside their home country during their career.åÊ Despite this, only 20% of current international assignees are female.
- Female millennials are least likely to want to work in the Financial Services, Defense and Oil & Gas sectors, solely because of their image and reputation.
- When asked why they might leave their current employers, 19% of female millennials said they were starting families and wanted to spend more time at home, compared to 18% of male millennials ÛÒ making this the 6th most likely reason women or men would leave their former employers.
Millennial moms are growing in numbers in the workforce. AudienceSCAN reveals that 32.5% of working moms are aged 25–34. 31% of working moms have children younger than 5 and another 36% have kids aged 5–9. 29% of working moms are urban dwellers. In the little free/leisure time they have, 65% say they enjoy spending it cooking. In the past month, working mothers have taken action after seeing ads in their sponsored search results.
AudienceSCAN data is available as part of a subscription to AdMall for Agencies. Media companies can access AudienceSCAN data through the Audience Intelligence Reports inåÊAdMall.