Accenture: Millennial women overwhelmingly positive about career prospects

Against a backdrop of economic volatility, the vast majority of young professional women believe they will have rewarding careers balanced with fulfilling personal lives, according to research released today by Accenture.

The research also generated the Accenture Millennial Women Workplace Success Index, which identified two primary qualities as key to workplace success – the ability to balance personal and professional lives and a job where they can make a difference. Ultimately, more than half of the respondents define success as doing meaningful work, while maintaining balance between their personal and professional lives (cited by 66 percent and 59 percent, respectively). Other factors of workplace success include stable employment that provides financial security, a positive work environment, open and honest communication with supervisors and opportunities to grow professionally.

Accenture’s Millennial Women Workplace Success Index is based on the results of an online survey of 1,000 millennial women ranging in age from 22-35 who are employed full-time in the United States. In the US, women will soon comprise half the workforce, and millennials are now one-third of the working population.

Almost all of the respondents – 94 percent – believe they can achieve a balance between a satisfying professional life and a gratifying personal life. Similarly, when asked to list typical qualities of a successful female business leader, seven in 10 (70 percent) cited “maintains work/life balance,” followed by “is flexible” and “is able to make an impact” (reported by 66 percent and 64 percent, respectively).

At the same time, almost six in ten (59 percent) report being at least somewhat negatively affected by the current economic downturn, and one-third (33 percent) are more concerned with keeping their jobs than achieving work/life balance.

Combining professional and personal success
For these respondents, quality of life is often more important than their career growth. Seven in ten (70 percent) reported that they believe they will be successful, and fully one-third of these young female professionals said they believe they will reach the top of their professions. However, they cited medical benefits and flexible hours (reported by 63 percent and 50 percent, respectively) as drivers of professional success, compared to classes and training for professional advancement (37 percent). Similarly, when asked about what is important to them, 66 percent cited family life, compared to 29 percent who cited career success.

“In pursuing both a satisfying career and personal life, millennial women will benefit from setting priorities and regularly monitoring both their progress along the way,” said LaMae Allen deJongh, Managing Director, US Human Capital and Diversity, Accenture. “At the same time, to attract, develop and retain high-performing employees, leading companies will strengthen their counseling and mentoring programs and offer innovative training and flexible benefits to help these individuals achieve their goals.”

While almost half of respondents (46 percent) reported that they currently have an equal balance of work and personal life, they were divided on whether they would give up personal time for more money or money for more personal time. Almost half (46 percent) said they would be willing to give up some of their salary if it meant spending more time on personal life, while slightly more than half (54 percent) said they would be willing to give up time spent on their personal life for more income. On average, women seeking more time have somewhat higher incomes and are<