Gen Y Hates Their Jobs
To anyone who has ever had discussions with friends or family about how much they like or dislike their work, it should come as no surprise that the Conference Board found in a survey of 5,000 U.S. households that many Americans dislike their work. The group that disliked their work the most? Gen Y, with more than 60 percent indicating that they are dissatisfied with their current jobs. That low level of satisfaction was the lowest level ever recorded in the nearly 20-year history of the survey.
The low level of job satisfaction in the under 25 year old segment began in 1995 when 55.7 percent indicated that they were satisfied with their jobs. By 2000, that level dropped to 50 percent and by 2005 it dropped even further to 49.2 percent. By 2006, the level had dropped to 38.6 percent. By comparison, between 50.3 and 55.3 percent of those over the age of 25 report being dissatisfied in their jobs.
The Conference Board did not attempt to explain why Gen Y is so much less happy with their jobs than Gen X'ers and Baby Boomers, but I have to believe that it has much to do with their conflicting desire to do interesting work and better the world with their need to pay down the crushing debt loads inflicted upon them by rapidly escalating college tuition costs.
Sad. Even though job satisfaction has always been lowest among people in their 20s, this is discouraging. I think your analysis is spot on--I would only add that I think many organizations have yet to "get it" when it comes to what Gen Y wants. What they don't want are policies that restrict any Internet usage, prohibit the use of iPods, and restrict work relationships. Times have changed and unless many U.S. firms get with the program they'll quickly be left behind.
The Conference Board's results are not surprising. U.S. firms lack attractive (and stable) benefits, salaries, and opportunities for Gen Y to feel secure. Add student loans, inflation, and gas prices (yes, gas prices) to the equation... graduates can feel the world crumbling. U.S. firms should wonder why recent grads are choosing entrepreneurial ventures instead of Corporate America.
The scenario goes a little something like this...
The Gen Y asks:
Why should I struggle working for you when I can struggle working for myself?
Corporate America responds:
I have no idea.