NEW YORK – Contrary to some assumptions, the main reason for why young women leave their jobs is not to focus on their families.
According to a new International Consortium for Executive Development Research (ICEDR) study, “Women around age 30 rank pay, lack of learning and development, and a shortage of meaningful work as the primary reasons why they leave organizations,” adding that while one may assume millennial men are compensation driven and women are focused on balance and family, the survey reveals that job departure drivers for men and women around the age of 30 are closely aligned.
Furthermore, the study found that there is a popular perception that millennials’ desires will change over time, but women in their 20s largely do not leave organizations for different reasons than women in their 30s. Four of the five top reasons for leaving were identical across the two age groups: higher paying job elsewhere, lack of opportunities for learning and development, lack of interesting and meaningful work and wanting more time with family.
During the survey process, ICEDR captured conversations with young, “high-flying women” who revealed five main themes for what they desire in the workplace:
- Know Me: Invest the time to understand her as a person, including her passions, interests, desires and needs both in and out of work.
- Challenge Me: She needs to grow and continue learning through new challenges and see multiple paths to advancement.
- Connect Me: She wants to interact, collaborate and build relationships with a dynamic network of peers, leaders, mentors, coaches and sponsors.
- Inspire Me: She wants purpose from the workplace from which she derives a sense of meaning.
- Unleash Me: She wants to lead initiatives, have her voice heard, experiment and use her entrepreneurial flair.
“We have great confidence in this next generation of women leaders. The bright, young women we spoke with are passionate, optimistic, ambitious and purpose-oriented,” according to the report’s authors. “What’s more, organizational leaders are excited about the energy that this generation brings to their organizations. By focusing on the things that matter most to these female stars, they in turn will fuel your company with fresh thinking, innovative ideas and big impact.”