22 January 2019 | Herpreet Kaur Grewal
Opportunities for work-life balance and quick career progression are crucial factors for young professionals seeking a new role in 2019, global research has found.
The research conducted by CEMS, the Global Alliance in Management Education, states that the chance for early stage impact is also a key criterion for recent business graduates when considering applying for a job.
The opportunity for good work-life balance/flexible working has been rated as important as salary when considering applying for a new role by young business graduates.
The global survey conducted by CEMS of 761 recent CEMS business graduates from 49 countries around the world, found that opportunities for quick career progression and the chance to make an impact at an early stage were also ranked highly, as the third and fourth key criteria that would influence their decision to apply for a job.
A quarter of respondents, the majority in their early 20s, would expect a new graduate to reach an executive level role in fewer than five years, with 75 per cent expecting new graduates to have achieved this level within 10 years.
Roland Siegers, executive director of CEMS, said: "These ambitious young professionals... crave quick career progression and the chance to make a genuine impact at an early stage. Importantly, our research adds weight to the idea that for this generation, work is not all about money - achieving a good work/life balance is more important than ever."
Siegers added that organisations should pay attention to the next generation's aspirations "if they hope to benefit from their ambition and gain competitive advantage in an uncertain age".
He advised providing young employees early on in their careers with opportunities to "tackle projects that deliver real global impact... whilst also recognising their need to have a life outside of work".
"We already see this in action through our forward-thinking CEMS corporate partners, who recognise the benefit of working with young people on real-life, global business projects even before they reach the workplace, to make sure they can hit the ground running," Siegers said.