University of Phoenix College of Doctoral Studies Releases White Paper on Workforce Generational Findings of 2024 Career Optimism Index® Focusing on Needs of Millennials and Gen Z

University of Phoenix College of Doctoral Studies releases a new white paper, “Recruiting and Retaining Millennials and Gen Zs in the Workplace,” authored by Janice Dossey Terrell, Ed.D., faculty at the College and fellow-in-residence of the Center for Educational and Instructional Technology Research (CEITR). The white paper provides insights and explores findings on areas of workplace concerns from the 2024 Career Optimism Index® study that can inform strategies for recruitment and retention of younger workforce members.

Consistent with a recent Deloitte global generational survey, the Index results indicate more than 60 percent or more of Millennial and Gen Z respondents need support identifying job options matching their skills and interests, as well as support setting career goals. Additionally, the Index found 73 percent of Millennial and 69 percent of Gen Z workers considered how much a company invested in reskilling/upskilling when looking for new opportunities.

“Millennials and Gen Zs wanted purpose-driven work and would refuse job offers not aligning with their ethics and values,” states Terrell. “Millennial and Gen Z workers seek positive, supportive work environments that allow them a healthy work-life balance as well as opportunities to chart their career path and gain new skills through learning and development in the workplace.”

The white paper identifies that the Index highlighted four areas of concern among Millennial and Gen Z employee respondents: job match and career support, financial and job security, upskilling and professional development, and learning preferences. Terrell explores what this means for and how it should inform efforts of organizations hiring and retaining these generations: “Millennials and Gen Zs are self-learners and prefer to access knowledge digitally. They are comfortable with technology and prefer a technological approach to learning, such as podcasts, gamified learning programs, and interactive, self-paced online instructional applications.”

Terrell is a University of Phoenix doctoral faculty member in the College of Doctoral Studies and a fellow-in-residence for CEITR. Additionally, she provides leadership and organizational research and development private consulting services to for-profit and non-profit organizations. She has been employed at the University for 20 years, during which she has instructed undergraduate and graduate content courses and served as a dissertation chair and university research methodologist. Terrell has also received the 2020 Phoenix 500 and 2024 John Sperling Distinguished Faculty Awards. Her academic career has included senior administrative and academic leadership and instructional roles in public and private colleges and universities. She holds degrees from the University of Central Florida (Ed.D.), the University of Maine (M.Ed.), and Illinois State University (B.S.).

The full whitepaper is available on the Research Hub or as a direct link here.

About University of Phoenix

University of Phoenix innovates to help working adults enhance their careers and develop skills in a rapidly changing world. Flexible schedules, relevant courses, interactive learning, skills-mapped curriculum for our bachelor’s and master’s degree programs and a Career Services for Life® commitment help students more effectively pursue career and personal aspirations while balancing their busy lives. For more information, visit phoenix.edu.

About the College of Doctoral Studies

University of Phoenix’s College of Doctoral Studies focuses on today’s challenging business and organizational needs, from addressing critical social issues to developing solutions to accelerate community building and industry growth. The College’s research program is built around the Scholar, Practitioner, Leader Model which puts students in the center of the Doctoral Education Ecosystem® with experts, resources and tools to help prepare them to be a leader in their organization, industry and community. Through this program, students and researchers work with organizations to conduct research that can be applied in the workplace in real time.

About the Career Optimism Index®

The Career Optimism Index® study is one of the most comprehensive studies of Americans' personal career perceptions to date. The University of Phoenix Career Institute will conduct this research annually to provide insights on current workforce trends and to help identify solutions to support and advance American careers and create equity in the workplace.

For the fourth annual study, fielded between December 5, 2023-January 2, 2024, surveyed more than 5,000 U.S. adults who either currently work or wish to be working on how they feel about their careers at this moment in time, including their concerns, their challenges, and the degree to which they are optimistic about their careers. The study was conducted among a nationally representative, sample of U.S. adults and includes additional analysis of the workforce in the top twenty DMA markets across the country to uncover geographic nuances. The study also explores insights from 501 U.S. employers to provide comparison between the workforce and those who hire, train, and retain them. Additionally, for the first time, a statistical modeling analysis was conducted to illustrate how employers and employees can benefit financially from investing in career optimism.

A full methodology can be found at www.phoenix.edu/career-institute.

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