Young adults in the UK worry that they run the risk of not achieving key milestones traditionally associated with becoming an adult, according to new research.
A quarter of young adults in the UK (22%) feel they are ill-prepared financially to move out of the family home and over a third (38%) are not financially ready to start a family, even though all those surveyed are employed, according to the study by Coursera.
Nearly a third (31%) say they can’t currently afford to pay into a pension, showing that the future is uncertain for many young people in the UK and the emergence of “Generation Never”.
So what is the reason for this anxiety in our young adults?
Over a third (39%) believe that the skills they have are becoming less relevant in their current careers, some of whom only completed their university degrees a few years ago. The study also found that only half (57%) believe their current career path will enable them to achieve their life goals, and four-in-ten (41%) feel a lack of training is holding them back.
To keep up with the changing work environment a third (32%) said they needed to improve their digital skills, which is surprising considering this is a digitally native generation. 41 per cent of respondents said they needed to build leadership skills and a similar number (42%) were concerned about people management skills.
A quarter (26%) are already concerned with a younger, better-equipped generation following in their wake.
Rick Levin, CEO of Coursera said: “Our findings are at once troubling and promising. Many young people in the UK feel that their current skills and career paths don’t position them to reach key life milestones.
“Our study found, however, that they are keen to upskill, with an overwhelming majority of respondents (96%) stating that they would consider taking a course to broaden their skillset if they felt it would advance their career. They are eager to take steps to improve their circumstances, if the correct tools – such as career-relevant skills training – are placed within their reach.”
Even though there is a clear willingness to learn new skills, over half of respondents (52%) stated that either the cost or the time commitment was preventing them from doing so. Only 14% of these young professionals strongly agreed that they are satisfied with the training and learning opportunities offered by their employer, meaning for many, months or years can go by with no appreciable skills growth.
Mr. Levin added: “Upskilling is now a much more convenient option than it has been in the past. New technology enables us to learn more affordably and on the go, where and when it suits. We hope this research will inspire businesses and education providers to better equip today’s young professionals to achieve their life and career goals.”