I read a fantastic report last week from the UK Workforce Confidence Index from LinkedIn titled “Which generation is feeling most confident right now?.” The fortnightly Workforce Confidence Index seeks to discover how confident the UK is feeling on a scale ranging from -100 to +100.
New research from LinkedIn shows that confidence is particularly waning among Millennials when it comes to how they feel about their jobs, finances and career outlook.
When asked about their confidence in their ability to get or hold onto a job:
Millennials returned a score of +25, a 22% drop from two weeks prior
Gen Z is also feeling less optimistic in this area – their score has dropped by 13%.
Baby Boomers, on the other hand, are feeling more confident in this area, with a score of +31 – a slight improvement on their score of +27 two weeks ago.
But, “when all age groups were asked how confident they feel in their ability to improve their financial situation in the next six months, it was Gen Z that came out top (+7). Millennials scored highest (+15) when questioned on whether they thought they could progress their career in the next year”.
I find this fascinating and I could make some guesses to some of the reasons. Over the last couple of months, lockdown has forced their previous in-the-office and all the ceremonies that come with it, to a forced remote-first, digital endeavour.
The ping pong tables weren’t missed. The forcing function of lockdown enabled teams to think differently about how they work. And yes, we found longer-term problems working from home. Loneliness, no space to work and less variety than before. These challenges can be overcome.
And for those that are furloughed, while some may use it to rest (and you should do a bit of that), others will start working on that idea that was always to the back of their minds, or take up training from Skillshare or elsewhere.
Earning money to fund the life you want doesn’t have to come from a 9-5. The crazy thing is is that it’s still understood as more secure. Have you ever heard the statistic that millionaires have an average of seven streams of income?
Learning key skills like sales, marketing and using skills that are valuable enough for someone to buy - I think that’s more secure. I’m fully expecting my son to become a YouTuber and my daughter to sell online.
I see signs from others that they can’t wait to get back to the office. Back to normal. I do fear that old habits will come back in, but that’s why we can’t give up on constantly changing, learning and executing.
Thanks for reading this issue,