A Surprising Reason 20-Something Women Are Overlooked for Promotions
According to Deloitte's recent millennial survey, 44% of millennials say that "if given the choice, they would like to leave their current employers in the next two years."
Can you guess the main reason for this? Both men and women report that "opportunities for career progression and leadership roles" are a major factor for staying at or leaving a job. While the numbers are comparable—67% of women said they would leave their current employer in the next five years, versus 64% of men—there is a large discrepancy in terms of the male and female perspective on leadership positions.
The survey shows that men are much more likely to report that they lead a department or are members of their organization's senior management teams than women. Men are also much more likely to seek leadership positions. For example, 21% of millennial men say they lead a department, versus 16% of women.
Perhaps the most jarring revelation of this study and other research from Harvard Business School is that unlike millennial men, millennial women "are more likely to view the path to power as less desirable, as well as paved with potentially negative outcomes." David Cruickshank, Deloitte's global chairman, postulates that this is because women value a work/life balance more than men do.
Cruickshank advocates for greater autonomy in the workplace. He recommends that senior leaders could do more to give employees flexibility to find their own work/life balance. McKinsey researchers support this advice in their Lean In research: "Employees on diverse and inclusive teams put in more effort, stay longer, and demonstrate more commitment. Women and men of all ages benefit from the flexibility to be their best selves at work and at home. Building on this foundation, corporate America can eliminate the barrier women face and help all employees achieve their full potential."
For more information on the 2016 Deloitte Millennial Survey, visit Fast Company.
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What do you value more: a big paycheck, or work/life balance? Share with us in the comments.