Cash isn’t king for young graduates, says PwC

A SURVEY from accountancy firm PricewaterhouseCoopers has found that training and development and work/life balance are key issues for young graduates, even more important to them than cash bonuses.

The research, based on answers from graduates born between 1980 and 2000 – so called millennials – reveals 22% of survey respondents said training and development is the ‘benefit’ they value most from an employer, followed by 19% rating flexible working number one. Cash bonuses ranked in third place (14%). Only 4% said they would prefer no benefits and higher wages.

These findings are taken from the report ‘Millennials at work, reshaping the workplace,’ which is based on analysis of the attitudes of more than 4,000 graduates across 75 countries.  The report aims to provide insight into the minds of new graduates from around the world entering the workforce for the first time.

Rupert Hutton, human resources expert at PwC in the Midlands said: “Millennials want more than ‘just a job’. They expect rapid progression, a varied and interesting career, and constant feedback. What they want might shift as they move through different stages of life and their commitments change, but this group is characterised by its ambition and optimism as they look at more than money when there’s an offer on the table. 

“There are significant implications for employers as they need to adapt to ensure they remain attractive to this new workforce.”