Millennials worldwide have ranked the technology, media and telecommunications (TMT) industry as the most useful and desirable sector to work in.
Nearly half (45%) of Millennials in emerging markets felt the skills this sector provides will be important in the next five to 10 years, the 2015 Deloitte Millennial Survey found. More than four out of 10 (42%) of Millennials globally and 39% of those in developed markets also stated the same.
The second and third favourite industries were the financial and professional services sector, 33% and 32% of global respondents choosing them respectively.
“Men (24%) were nearly twice as likely as women (13%) to rank TMT as the number one sector to work in,” Deloitte’s press release stated. “Among broader sectors, leadership is perceived to be strongest in the TMT sector (33%). This percentage was three times higher than second ranked food and beverages (10%), and four times that for third-ranked banking/financial services (8%).
“In addition, when asked about the businesses that most resonated with Millennials as leaders, Google and Apple top the list of businesses, each selected by 11% of respondents.”
The transport (10%), retail (11%) and travel (15%) sectors made up the least desirable industries for Millennials globally.
When asked why they were working for their current employers, 60% of Millennials chose a “sense of purpose” as the main reason, and 80% stated their current organisations did have such a strong sense of purpose.
However, the survey highlighted these organisations could do more in nurturing emerging leaders.
Only 28% of Millennials worldwide said their organisations make full use of their skills, with the percentage being extremely low in countries such as Japan (9%), Turkey (15%), South Korea (17%) and Chile (19%).
“The message is clear: when looking at their career goals, today’s Millennials are just as interested in how a business develops its people and how it contributes to society as they are in its products and profits,” Barry Salzberg, CEO of Deloitte Global, said.
“These findings should be viewed as a wake-up call to the business community, particularly in developed markets, that they need to change the way they engage Millennial talent or risk being left behind.”
The survey also identified a confidence gender gap among Millennials. Men were more likely to want to secure the “top job” within their organisation than women (59% vs. 47%). Women (21%) were also less likely to rank their leadership skills at graduation as strong, as compared to men (27%).
“However, when asked what they would emphasise as leaders women were more likely to say employee growth and development (34% compared to 30%), an area that many Millennials felt was lacking within their current organisations,” the report stated.