Communications of the ACM
Just How nderemployed is Gen Y?
Credit: Eating Richly
For members of Gen Y, the most popular employment opportunities remain within the technology sector. Smaller, fast-growing technology companies offer the types of entrepreneurial jobs that are flexible and offer an opportunity to change society, both factors that resonate with members of Gen Y. At a time when many of them are having a difficult time finding jobs or paying down student loan debt, these jobs are stable, relatively high-paying, and are able to leverage their college educations. A new study provides an update on the employment habits of Gen Y, including information related to where Gen Y workers are most likely employed, what skills they are likely to have, and where they aspire to work.
The study found that the top-ranked companies for Gen Y are all tech companies that offer a high degree of job satisfaction, low job stress, high pay, flexibility, and meaningfulness of job. Qualcomm, Google, and Medtronic were at the top of the list. Gen Y has not only demonstrated a propensity to use cutting-edge technology as consumers, but young people today also like how tech companies treat their employees. Many of these tech companies offer telecommuting, they are fast paced, always innovating, and allow them to work on meaningful projects that have an impact on society.
Members of Gen Y prefer working at small companies rather than larger ones. They like smaller companies because the environment is more flexible, they are more likely to be given additional responsibilities, and they feel like they are part of something in high-growth mode. The highest concentration of Gen Y workers are at small companies with less than 100 employees (47%), followed by medium companies that have between 100 and no more than 1,500 employees (30%), and the fewest work in large companies with more than 1,500 employees (23%). They see the best path to a successful career as joining or starting a business that has a purpose. More and more colleges are offering entrepreneurship classes in order to take advantage of Gen Y's entrepreneurial ambitions.
From Time Moneyland
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