Money driving young professionals


Not-for-profit (NFP) organisations may have difficulty retaining young employees, whose loyalty to a company is determined by their remuneration package, a study has found.

The Life of a Professional survey by online professional network LinkedIn, which surveyed more than 6,000 students and young professionals, found that the size of the pay cheque was one of the main things keeping young people at the same workplace for more than two years.

Money was also a driving factor for 77 per cent of professionals with one to five years’ experience, who said that if they were considering leaving their current job, a pay rise would convince them to stay.

Less experienced professionals also showed little loyalty to their employers, with 23 per cent of professionals with one to five years’ experience saying they thought they should stay at their current position for two years before moving to another job.

In contrast, 33 per cent of professionals with over 15 years’ experience said they thought they should stay at their current job for at least ten years before moving on.

The survey also found that career expectations were high among students and early professionals, with more than one fifth expecting to receive a promotion within the first year of starting a position, compared to only 10 per cent of workers with 15-plus years of experience.

The three most important factors in a dream job for young people were happiness at work (66 per cent), money (39 per cent) and getting along with colleagues (38 per cent).