There is a Millennial Compliance Gap

Research companies have been busy conducting surveys on millennials to try and get a better understanding of their work habits. As more and more of them start entering the professional work environment, many industries are starting to wonder about how the biggest generation since the baby boomers will effect them. 

EY Fraud conducted a survey on 4,100 millennials from 41 different countries including Europe, Middle East, Africa, and India to find out their stance on compliance related matters. The results were stunning, EY Fraud quickly determined that there is a clear generational gap when it comes to compliance related matters.

First, one in four millennials could justify paying bribes to advance their business. In contrast, that ratio is 1 in 10 for people older than 45. Second, they found that many millennials have issues with trust, with 68% believing their managers would be willing to behave unethically in order to enhance their business. Also, almost half of the population surveyed would act unethically in order to enhance their personal careers.

How does this gap in compliance beliefs occur? Millennials have always grown up with a strong sense of individuality. They have always had a "me first" attitude with whatever they put their mind to. As you can imagine, this puts a hamper on their views towards compliance related matters and is something to keep in mind for your company. By 2030 millennials will make up 75% of the workforce which is approaching sooner then you think.

With K2 Complianceā„¢ you can manage your entire organization's compliance policies all through the cloud.