The majority of Gen Y workers would consider jumping the corporate ship to go it alone, new figures show.
A staggering 85 per cent of Aussie millenials are tempted to quit their job to work for themselves, either by freelancing or owning their own business.
The survey of more than 1000 Australian university graduates found a further 56 per cent claim corporate loyalty is an outdated concept and professionals are most successful if they craft their own career path.
This entrepreneurial attitude is at odds with recruiters, the majority of which think Gen X has a better work ethic and leadership skills than Gen Y.
The Elance-oDesk study also found 81 per cent of recruiters believe people aged between 21 and 32 are more likely to have egotistical tendencies.
Gen Y’s limited tenure is the top concern among recruiters, as only half of millenials stayed in (or intend to stay in) their first full-time job for more than a year, and only 14 per cent intend to stay in their current job for more than five years.
Kyri Theos, Elance-oDesk Australian country manager, says millenials are driving a new working structure that demands flexibility and freedom.
“Gen Ys are looking beyond the nine to five,” Mr Theos said.
“This portion of the workforce is really tech-savvy and has grown up with entrepreneurial values and stories of start-up success.
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“On the other hand, you’ve got businesses that are still working with a traditional hierarchical structure.”
Mr Theos said although more Silicon Valley-style workplaces were emerging, rigid corporate culture still prevailed and recruiters were measuring candidates against these values.
“To retain Gen Y talent, businesses need to become more flexible to better accommodate the values of this growing generation, which will continue to be integral to the workforce,” he said.
Today there are more than four million Gen Y workers in Australia.
According to the Australian Bureau of Statistics, Gen Ys will eclipse the working age population of Gen X within 15 years as it moves toward retirement.
