HARTFORD, Conn.–(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.
“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
- Flexible work schedules (43 percent)
Benefits, such as health, life, and disability insurance (40 percent);
- 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
About The Hartford
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The Hartford (NYSE: HIG) is a leader in property and casualty insurance,
group benefits and mutual funds. The company is widely recognized for
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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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statements as defined in the Private Securities Litigation Reform Act of
1995. We caution investors that these forward-looking statements are not
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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.