40% Filipino Millennials Likely to Quit Jobs in Two Years
MANILA: Two out of every five Filipino millennials are likely to quit their current jobs in the next two years, mostly because they feel their employers are not doing justice to developing their leadership skills, according to a latest survey.
This puts businesses at risk of losing their millennial talent – referring to young adults who were born after 1982 and who have come of age in the age of Internet, Inquirer quoted Deloitte’s fifth annual Millennial Survey, released by local member practice Navarro Amper & Co., as pointing out.
Given the choice, 40 percent of Filipino millennials would leave their current employers within two years, with that figure rising to 64 percent when the timeframe is extended to 2020, the report said.
On a global basis, 44 percent of millennials reportedly expect to resign within two years while 66 percent are likely to quit within five years.
This dissatisfaction among millennial employees stems partly from feelings of being underutilized and the perception that they are not being developed as leaders: 62 percent of Filipino millennials say their leadership skills are not being fully developed in their current organization. Among those who said they plan to leave within two years, 61 percent feel that they are being overlooked for potential leadership positions, said the news portal.
“With a maximum age of 33, millennials are entering that period where they expect to have more say in the way their organization is run,” Greg Navarro, managing partner and chief executive officer of Navarro Amper & Co, reportedly said. “So in managing and engaging them, leaders have to keep this in mind and come up with a development track that recognizes that ambition: Is there room at the top for these young professionals and are they getting the necessary training for those posts?”
The survey also revealed that millennials are bringing their own values with them into the workplace. Respondents who are currently occupying junior or senior level posts were asked what factors influence them when making decisions at work, Inquirer reported.