It’s widely known and accepted that the retirement age is creeping ever later in life. That reality is driving Millennials to believe they’ll have to work until they die.
Research conducted by the Manpower Group into the career aspects of Millennials shows that 12% of them believe they will never be able to retire. While a large number of employees are remaining optimistic, the survey reveals that the worldwide trend of retiring later in life has the younger generation worried.
Workers in Japan are the most pessimistic, with 37% of Millennials expecting to work until they die. In the UK that number drops to 12%, in line with Italy, the Netherlands and the US. Spanish employees are the most hopeful, with only 3% believing they’ll retire after the age of 65.
The Millennial Careers: 2020 Vision report also reveals that 73% of younger employees around the world work more than 40 hours a week, with people in India topping the list at 52 hours. That is contrary to the common belief that Millennials are lazy and brings into perspective the struggle they face to balance work and their personal lives. As a result, 84% foresee the need for significant career breaks, mostly to take care of children or older relatives.
Read the full report at bit.ly/29rhHWQ.