People who are working in hospitality careers and are from the Millenial generation are more likely to choose job fulfilment over good wages, according to a new survey by the iOpener Institute for People and Performance.
It has emerged that for those who were born after 1980, given the name of the Millenials, money seems to be less influential when it comes to job loyalty, and they would instead only recommend the job to a friend if they felt happy at work. This was especially the case if employees felt like that were making an impact on the wider society or economy. Companies that had a strong social ethic were retaining staff much more, whilst this is reflected to more young people being willing to voluntarily carry out community service more than ever.
Jessica Pryce-Jones, founder of the iOpener Institute and author of Happiness at Work – Maximising Your Psychological Capital for Success, pointed out that with 77 per cent of the workforce in the hospitality market being under 30, this news would be great for bosses, who are looking to save money in this tough economic climate. As recruitment can also be a very expensive process, it is worthwhile for employers to try and retain their staff as much as possible.
Furthermore, it has emerged that employees have become more tech savvy, meaning that businesses should adopt social media campaigns much more closely, especially when it comes to recruitment.
Ms Pryce-Jones added: “This Generation Y insight report provides an important wake-up call for management to pay attention to employee feelings of engagement, empowerment, purpose and future development if they are to retain and foster young talent in their company."
The results are based on a sample of 18,000 professionals across the UK.
Berkeley Scott is a specialist recruitment agency providing hospitality employment solutions.