Gen Y Gap: The Hartford Poll Finds Industries That Drive U.S. Economy Are Failing To Attract Millennials
November 19 2015 - 7:00AM
Business Wire
The Hartford released new research that shows key industries
driving the U.S. economy, including retail, construction and
manufacturing, are failing to attract a giant generation of leaders
– the 80 million Millennials (ages 18-34) in the United States.
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The Hartford's Millennial Workplace
Expert Lindsey Pollak (Photo: Business Wire)
“The results reveal a quiet crisis – a generation of leaders who
aren’t interested in many businesses that drive our nation’s
economy,” said The Hartford’s Millennial Workplace Expert Lindsey
Pollak. “Millennials can help close this leadership gap by widening
their career searches and exploring jobs, salaries and benefits
before writing off whole sectors of the U.S. job market.”
A vast majority of Millennials (80 percent) consider themselves
as leaders today and want to be leaders in the next five years (69
percent), according to The Hartford’s 2015 Millennial Leadership
Survey.1 However, only 7 percent of young leaders in the third
annual survey said they are interested in working in construction,
retail or manufacturing. Other industries that rated low on the Gen
Y work wish list are insurance, which four percent of Millennials
said they’re drawn to, and wholesaling and utilities at 3 percent
each.
“At The Hartford, we are working hard to make sure Millennials
know that insurance offers a variety of career paths such as tech,
big data and marketing, as well as flexible work and leadership
development,” said Susan Johnson, head of diversity and inclusion
at The Hartford. “We don’t want to miss out on future leaders
simply because of misconceptions about the industry.”
Arts and entertainment topped the Millennials’ work wish list,
with 40 percent of Gen Y survey participants saying they want to
work in this industry. Second on the list was education at 36
percent, and technology at 36 percent.
The top way to recruit Gen Y employees is providing a variety of
career opportunities, according to 46 percent of the survey
participants in the national poll. Additional recruiting tips from
Millennials include offering:
- Flexible work schedules (43
percent)
- Benefits, such as health, life, and
disability insurance (40 percent); and
- Career advancement and leadership
opportunities (33 percent).
“Year over year, our research shows that the right benefits play
a pivotal role in attracting and retaining employees,” said Mike
Concannon, executive vice president of The Hartford’s Group
Benefits business. “We are committed to working with our brokers to
help our employer clients hire and develop the next generation of
decision-makers, while ensuring these young leaders understand the
role that benefits can play in protecting their leadership
potential.”
As a leading provider of group benefits, The Hartford protects
the lives and incomes of more than 12 million working Americans.
For more than three years, The Hartford has partnered with Pollak
to help Millennials, the largest generation in the U.S. workforce
today, make informed benefit choices.
About The HartfordWith more than 200 years of expertise,
The Hartford (NYSE: HIG) is a leader in property and casualty
insurance, group benefits and mutual funds. The company is widely
recognized for its service excellence, sustainability practices,
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The Hartford® is The Hartford Financial Services Group, Inc. and
its subsidiaries, including issuing companies, Hartford Life
Insurance Company, and Hartford Life and Accident Insurance
Company. Its headquarters is in Hartford, Conn.
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forward-looking statements are not guarantees of future
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1. The Hartford's 2015 Millennial Leadership
Survey is a national omnibus survey conducted weekly among a sample
of 1,000 U.S. consumers, ages 18-34, who had “some college
education or higher. Interviewing was conducted on behalf of
The Hartford using ORC International’s Generational
Millennial CARAVAN® Omnibus in August 2015.
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The HartfordKelly J. Carter,
860-547-2122kelly.carter@thehartford.comorTom Hambrick,
860-547-9746Thomas.hambrick@thehartford.com
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