World Services Group Study Finds Millennial Professionals Favor

World Services Group Study Finds Millennial Professionals Favor Work-Life Integration Over Building Wealth

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SOURCE World Services Group

Survey Finds Clear Advancement Structure Another Top Concern

HOUSTON, Jan. 3, 2018 /PRNewswire/ -- Millennial professionals say that achieving work-life integration is more important than all other job-related goals, including building wealth, according to a survey conducted by World Services Group, the international referral network of leading independent law firms.

World Services Group (PRNewsfoto/World Services Group)

The survey of more than 1,500 millennial professionals at World Services Group firms worldwide upends a number of myths applied to the up-and-coming generation, which now accounts for a greater share of the U.S. labor force than any other generation. Despite the popular perception of millennials as having little loyalty, for instance, respondents indicated substantial attachment to their current firms.

The complete World Services Group Generation Now Study can be accessed here.

"Our study's findings offer significant insight into this much-scrutinized and misunderstood generation," said Ramón Moyano, chair of the World Services Group study and partner at Beccar Varela in Argentina. "There is a tremendous competitive advantage to appreciating and responding to millennial values, both in retaining talent and attracting clients with young leaders."

Millennial professionals expressed an overwhelming desire to achieve work-life integration at their jobs-ranking it their most important priority, ahead of wealth building and achieving leadership positions. Additionally, in five of six global regions, millennials identified flexible office hours as the fringe benefit they most desired, confirming that combining a fulfilling career with life is the key to understanding this generation globally.

Millennials' concern for their career advancement emerged as an additional top concern. Respondents cited a clear promotional path as the policy they would most like to see implemented at their firms, over seven other choices, including "zero-jerk policies" and increased use of technology.

This first-of-its-kind survey not only explored the views of millennial professionals, but also tested their perceptions of "Generation Now" clients (those who typically approach business through disruptive methods and technology). The vast majority of respondents-approximately 75 percent-agreed that there are key differences between Generation Now clients and traditional clients.

The survey's significant findings include:

  • Retention: 81 percent of North American professionals expect to build a career with the firm at which they currently work, the highest percentage among the six global regions studied. Africa was the lowest, at 54 percent.
  • Source of job satisfaction: Across all regions, millennials valued the people, office culture and complexity of their work over firm objectives and corporate social responsibility initiatives.
  • Attracting Generation Now clients: Only 43 percent of North American respondents agreed that their firm has a clear strategy to attract Generation Now clients, which was the highest percentage among all global regions.

About World Services Group

World Services Group was created in 2002 and is a global membership network whose members are among the leading independent firms. Formed upon a unique approach to legal networks, WSG developed the idea that the premier independent law firm needed a more expansive and efficient global approach within the industry. The integration of knowledge, expertise and client service providers from the investment banking and accounting professions creates better opportunities for providers and clients alike. Additionally, through innovative access and technology, WSG offers members and clients immediate access to prospects, information and leading experts with a known record of superior, quality service. WSG has been built on the expertise and experience of the over 19,000 professionals at its more than 130 member firms. WSG's global representation includes more than 145 jurisdictions and operations throughout the United States and Canada.

Media Contact
Maricarmen Trujillo
mtrujillo@worldservicesgroup.com

 

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