Significant labour shifts around the world

Euro Millennials 20-34 Hickey and Associates (H&A), a global site location, incentive advisory, and workforce analytics firm, recently released a new report on the significant labour shifts occurring around the world, especially in Europe. The report, which is a global evaluation of labour trends, takes a specific focus on Millennials, the largest generation in the workforce. SiteTrends: Millennials – Shifting Demographics in the Workforce Fall 2017, report discusses how Millennials may impact business and their employers today, tomorrow, and well into the future.

As a result of the cyclical nature of global generational shifts and its overall population growth, Millennials – those born between 1985 and 2004 – are continuing to overtake the prior generation in workforce participation, particularly. Demographically, these newer workers are more educated, ethnically diverse, and pursue different career paths than those in the generations preceding. Accordingly, it is crucial for employers to consider the changing characteristics of the workforce as they develop their businesses for the future.

In evaluating the labour demographics of the Millennial workforce, H&A compares the growing population of young workers to the retiring generation to provide a new perspective on the trends within the group. This summary also aims to evaluate job growth and wage inflation within the industries that attract Millennials, and the lifestyle choices that dictate where they live, how they work, and their attitudes to traditional domestic life. This report should also demystify, in part, some of the disputed economic and social differences that separate Millennials with their older peers in the workplace.

Millennials are by far the most diverse generation in history with a dynamic future ahead of them in Europe. While the UK, Germany, and Spain are home to the most Millennials, Slovakia has the highest proportion of their population, with one in five being aged 20-34. The UK, Bulgaria, Czech Republic and Germany round out the top five in regards to proportion of population. Migratory patterns in recent years will certainly lead to further changes in the population changes in Europe, particularly in Germany.

Educational attainment is a great differentiator of the Millennial generation as they are going to school more than any prior age segment. This is more true than ever for Millennial women, currently outpacing men in attaining further education. In 2014, nearly one in every three women aged 25 years or older in the UK had a bachelor’s or equivalent degree. It doesn’t stop there, though…leading their male counterparts (6%), approximately 7% of the women in the age group have master’s or equivalent degrees.

Hickey & Associates Site Trends MillennialsWith additional education, also comes more debt for the Millennials than any prior generation. Weighing this further financial responsibility, among other social factors, the generation is also the most likely to still be living in their familial home. Particularly high in Eastern Europe, nearly half (48%) of Millennials tend to prefer to stay, or return, home at record numbers. In comparison to the United States, 32% of American Millennials remain at home.

As the global economy continues to evolve, so does the workforce. Understanding the labour trends of Millennials, along with generations to follow, is critical for business leaders as they plan for the future. For more information on the topic, the comprehensive report is available for download online at


Hickey and Associates is a COBCOE Corporate Partner.

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