All you need to know about female millennials.
Did you know that female millennials are expected to represent 25% of the global workforce by 2020?
To find out how this generation of women feel about work and their careers, an international survey was conducted with 8 756 female millennials from 75 countries of which more than 200 South Africans also took part.
Who are the millennials?
Millennials are those who were born between 1980 and 1995, and would be turning 22 – 34 years’ old in 2016. As there is a huge difference in experience and career levels, the survey conductors grouped the millennials into three groups:
· Career Starters with 0 – 3 years’ work experience
· Career Developers with 4 – 8 years’ work experience
· Career Establishers with 9 or more years’ work experience
So, what do we know about the world’s female millennials?
Female millennials are most attracted to companies who are able to offer career progression opportunities – a trait that shows that this generation is a lot more ambitious than their predecessors. Newcomers to the workforce typically believe they’re able to reach top management within their company – and they’re determined to do so.
Female millennials are most likely to have left a former employer due to the lack of career opportunities they offered, and least likely to have left a former employer because of wanting to start a family.
More than 65% of female millennials in romantic relationships or in a “dual career couple” earn as much or more than their significant other. Also, the more experience a female millennial has, the more likely it is that she earns more than her partner.
South Africa’s Female Millennials
In South Africa, millennials are least interested in the defence, government and public services, oil and gas, and insurance sectors. This is largely due to the poor image and reputation these sectors hold.
Why hire female millennials?
Nana Madikane, PwC Diversity & Inclusion Leader for South Africa says that the research highlights interesting results.
She says female millennials:
- Bring a new era of talent
- Are more highly educated than ever before
- Are entering the workforce in larger numbers than ever before
- Are entering the workforce with a different mindset than previous generations
Madikane also reports that female millennials are looking for companies that offer diversity. And while these 22 – 34 year olds are aware that companies are talking about diversity, most of these ladies still don’t feel equal opportunities exist in South Africa.
How does your company attract the cream of the crop?
If you’re a hiring manager, recruiter, or part of management looking to attract the best female candidates (and perhaps the future CEO) for your company, take heed of this advice.
Employers should commit to:
- Creating inclusive cultures
- Implementing better talent strategies
- Encourage the confidence and ambition within the female millennial
- Create ample career growth opportunities
- Provide high quality, future focused feedback discussions
- Promote and implement diversity
- Offer international experience, travel or trips
This survey was done by PwC to mark International Women’s Day on the 8th of March 2015. In South Africa, National Women’s Day is celebrated annually on 9 August in memory of more than 20 000 women who marched to the Union Buildings in 1956 in protest of the pass laws.
