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Nearly half of millennials would quit their current job in two years; four in five would freelance

May 23, 2019

Nearly half of millennials, 49%, would quit their current job in the next two years if they had a choice, according to the 2019 Deloitte Millennial Survey released this week. That’s up from 38% in Deloitte’s 2017 report and the highest it has recorded.

Dissatisfaction with pay, cited by 43%, was a top reason millennials gave for wanting to leave. Not enough opportunities to advance was second with 35% saying this, and lack of learning and development opportunities was cited by 28%.

Millennials expecting to stay with their employers for five years or more represented 28% of survey responses, unchanged from last year. The survey found a strong correlation between millennials who plan to stay in their current jobs and those who said their companies deliver on diversity and inclusion.

The survey also found four in five millennials would do freelance or contract work, but only 6% said they have chosen to be part of the gig economy instead of working full time. Still, 61% said they would take a gig assignment to supplement existing employment.

Those who would join the gig economy cited the chance to earn more money, 58%; work the hours they want, 41%; or achieve better work/life balance, 37%, as reasons for considering it. The main reason for not considering the gig economy was its perceived uncertainty.

Deloitte’s survey questioned 13,416 millennials in 42 countries. Other findings included:

  • Some 70% of millennials believe they have only some of or few of the skills required to succeed in industry.
  • 46% of millennials believe the changing nature of work will make it tougher to find or change jobs. But when it comes to training, millennials believe business is more responsible for training workers to meet evolving challenges.
  • 49% of millennials believe new technologies will augment their jobs.

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