Free Trial!
Today’s Best Stocks To Trade! Click Here
* 97% of those working beyond 65 feel 'enabled' in their work (compared to just 61% of 31-35 year olds)
* Seven out of ten workers of 50 and over say they are fulfilled, with just half of 25-31 year olds saying the same
* Satisfaction levels peak at 90%+ amongst the oldest age group (65 and over)
The Vodafone UK Working Nation report, based on findings from a survey of 3,800 people and over 20 hours of inter-generational focus groups will give hope for the future to people in their early thirties who, according to the survey, are suffering a severe bout of mid-career depression. When asked about 'negative feelings' regarding work, the 31-35 year old age bracket topped the poll in every category, including 'feeling undervalued' (59%), being 'unfulfilled' (49%) and being 'de-motivated' (43%).
Crucially, the report also comes with a stark warning for the characteristically optimistic 'Generation Y' (those born after 1980) - discussions in the qualitative phase of the research suggested that one of the biggest issues facing British business over the next ten years could be the 'inevitable' disillusionment that will hit these youngest members of the workforce as they start to reach their thirties.
Sonia Abrahams, senior research consultant at Opinion Leader, one of the companies that carried out the research, comments: "The common prediction associated with Generation Y is that it is using developments in technology and new forms of communication to change working cultures forever, meaning we will see companies working in new ways and offering employees new flexibility in how they choose to define their working day.
"Our research showed that this young cohort is indeed highly ambitious and wants to succeed in a shorter time span than ever. But with these new, higher expectations comes the risk of greater disappointment. The findings from our cross-generational workshops demonstrate clearly that these predictions do not take account of a feeling of mid-career depression brought on by the pressures of the family-life stage. This consensus did not come only from those currently in their early thirties, but also from those more contented workers in their forties, fifties and sixties who have emerged on the other side. By most, it is seen as inevitable."
The Vodafone UK Working Nation series of reports, now in its fifth year, is a major ongoing study created and conceived by Vodafone UK that chronicles the attitudes and trends that shape the United Kingdom at work. The series is used by Vodafone UK to examine its own working practices, help develop new products and services and to create a better understanding of the modern management and workplace issues impacting its customers day-to-day and in the future.
This volume, entitled 'The Nature of Work', explores the true meaning of work in 2008 from the perspective of all different ages, including teenagers about to enter work as well as recent retirees. The report is for the benefit of employees that want to understand more about their role and their ambitions; and for managers who are faced with a shifting landscape of employee expectations and motivations.
Key research findings: Young hope (under 30) The research confirmed that young people want a working world that enables the opportunity for options, variety and change - a psychological contract with the employer written purely in their own terms.
* 45% of the under thirties believe that they will be doing something entirely different for a different organisation within the next 5 years (compared to 25% of the sample as a whole)
* More 26-30 year olds (33%) 'strongly agree' that they are motivated by money above all else than any other group
* 31% of 16-20yr olds believe technology will change the way they work entirely (compared to 18% of the sample as a whole)
Mid career malaise All measurable indicators of contentment & achievement in the report suffer a considerable drop amongst those in their early thirties, little more than a decade after many have started their careers.
* Thirty-somethings feel more trapped (39%), dissatisfied (44%) and more without control (36%) than any other age cohort surveyed
* This generation also contains the highest number of people who feel undervalued (59 per cent), unfulfilled (49%) and de-motivated (43%)
* Only 15% of 31-35 year olds will happily work all the hours possible to further their career compared to 31%-32% of 16-25 year olds and 22% of 26-30 year olds
Golden age Findings from the oldest cohorts indicate a far more positive outlook, not just for those that are already in their forties, fifties and sixties, but those about to enter this age group from their thirties.
Older participants reported a "second burst" of working life once they got through the pressures of the family life-stage, describing themselves as becoming more relaxed and satisfied in their work.
* 53% of those working past retirement age say they go to work to express a skill, talent or passion, compared to 34% of the nation as a whole
* 97% of those working beyond 65 feel 'enabled' in their work, compared to just 61% of 31-35 year olds
* Seven out of ten 50+ workers say they are fulfilled, yet just half of 31-25 year olds say the same
Mark Bond, Director of Enterprise, Vodafone UK, commented: "A lot of time and money has been spent by companies in recent years in understanding the needs of employees coming into the workforce in their late teens and twenties and also of the people moving towards the end of their career. This report demonstrates clearly that more should also be done to empathise with and understand those in the middle of careers - not only for their own sake, but for the benefit of the companies that they work for. These people are, after all, the leaders of tomorrow."
The full Vodafone UK Working Nation 'Nature of Work' report is available from www.vodafone.co.uk/workingnation. For hard copies please email your request to vodafone@harvard.co.uk.
Join the debate
Will Generation Y be different from its predecessors and beat the mid-career blues? Read expert commentary and have your own say at www.vodafone.co.uk/workingnation
Methodology
The research for Working Nation 2008 was conducted in four phases:
* Initial in-depth interviews with members of a steering group of leading business people and academics
* Qualitative group discussions with members of the public from within seven different age bands and working life-stages. Each group comprised social influencers: that is, ordinary people who have numerous social contacts and a strong influence within their social networks.
Among those of working age, both people who were employed and those who were self-employed were recruited
* Findings from these group discussions were then used to form the basis of a quantitative research survey, canvassing the views of 3842 members of the Working Nation; including those still in education, those that work for themselves, employees within small business, employees within large organisations, middle management, senior management and board directors
* An inter-generational workshop, bringing together a selection of the participants from the qualitative group discussions to discuss the results of the quantitative survey and develop principles for creating a happier and more motivated workforce
The composition of the groups is shown in the table below:
Group number Life/work stage Age 1 Thinking about future careers 14 - 16 2 Transitioning between education and the world of work 19 - 21 3 First few years of experience in the world of work 26 - 28 4 10+ years experience of the world of work - early managers 33 - 36 5 20+ years experience of the world of work - management combined with parenthood 43 - 46 6 30+ years experience of the world of work - thinking about retirement 53 - 56 7 Mixture of those still working and recent retirees 63 - 66
The research was conducted jointly by Opinion Leader and Opinion Matters between February and June 2008. All employees of both Opinion Leader and Opinion Matters are individual members of the Market Research Society and all research conducted was in accordance with the Market Research Society Codes of Conduct.
About Vodafone UK
Vodafone UK has 18.4 million customers and is part of the world's leading international mobile telecommunications Group, offering a wide range of voice and data communications. The company is committed to providing mobile solutions that allow both consumer and business customers to make the most of now. In addition, Vodafone connects customers across the globe with roaming agreements worldwide. It provides 3G roaming in 29 countries and offers great roaming value with Vodafone Passport.
CONTACT: Ben Taylor, Media Relations, Vodafone Group Tel: +44 (0)1635 66 44 44 Alistair Kent / Ali Lubbock, Harvard PR Tel: +44 (0)20 8759 0005 e-mail: Vodafone@harvard.co.uk WWW: http://www.vodafone.co.uk
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
