Almost two-thirds (61 per cent) of U.S. employees aged 25 to 35 have changed jobs in the last two years or are planning to make a move by 2024, according to a new survey by Fidelity Investments Inc.
The survey, which polled 1,500 employees, found while salary was the most important factor to employees who are considering a new role, they also cited schedule flexibility and remote work (65 per cent), paid time off (59 per cent), medical benefits (54 per cent) retirement savings programs (49 per cent), bonuses (34 per cent) and professional development opportunities (28 per cent). Among respondents who had a workplace retirement savings plan, 30 per cent opted to cash out when they switched jobs.
Among upcoming college graduates looking for jobs, the top considerations, in addition to salary, were medical/health benefits (70 per cent), retirement savings programs (54 per cent), bonuses (31 per cent) and student debt assistance (25 per cent).
In a press release, Kelly Lannan, senior vice-president of emerging customers at Fidelity Investments, said young professionals are more diverse than previous generations and are taking a different approach to life and work, in light of events such as market volatility and inflation.
“It’s therefore no surprise this group looks at the workplace in a new light. Of course, financial benefits will always be important, but there’s also a heightened expectation from younger professionals to have more paid time off, schedule flexibility and meaningful work — and they’re not afraid to make a change to attain that expectation.”