1 out of 5 millennials experience job insecurity in the workplace: Report
While 83 per cent of millennials report working in a psychologically safe environment, the remaining 17 per cent lack emotional and mental workplace support. The data reveals a clear link between psychological safety and loyalty—millennials who feel safe at work are twice as likely to stay long-term compared to those who don't.
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Among the sectors, Financial Services and Insurance and Retail lead with the highest psychological safety, with the rating of 84 per cent, followed closely by Health Care, Information Technology, and Manufacturing & Production, each recording 83 per cent, as per the report.
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On the other hand, sectors like Biotechnology and Pharmaceuticals and Professional Services show slightly lower ratings at 80 per cent, making them the least performing sectors in terms of psychological safety.
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Despite this, 15 per cent of millennials expressed intent to leave their jobs, with attrition highest in IT and professional services and lowest in retail and manufacturing. Job insecurity also looms large, as 1 in 5 millennials fears layoffs, particularly in biotech, IT, and professional services.
The highest levels of intent to leave are seen in Professional Services (18 per cent) and Information Technology (17 per cent), indicating higher workforce mobility in these sectors. Biotechnology & Pharmaceuticals matches the overall rate at 15 per cent, while healthcare and financial services and insurance record slightly lower values of 14 per cent each.
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On the positive side, 82 per cent of millennials received upskilling and re-skilling training opportunities in the past year, and 89 per cent were provided with adequate resources and equipment. However, only 47 per cent felt they had strong opportunities to innovate, suggesting organizations need to focus on fostering creativity alongside skilling.
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