Are Cooperatives an Employment Option? A Job Preference Study of Millennial University Students

Abstract

Millennials represent the most important group among the working age population. Destined to be the leaders of the future, their professional and personal profiles differ considerably from previous generations. Despite being considered as the most successful generation, millennials face a societal transformation and a labor reality marked by high levels of unemployment and underemployment that shape their career choice. Although millennials’ and university students’ job preferences have long been debated in the literature, some research gaps remain. Studies rarely consider the interplay between individuals’ profiles and the institutional form of business, particularly cooperative versus non cooperative options. To predict the compatibility between Millennials’ profiles and the cooperative job preference, a multinomial logit model is developed based on a survey of millennial business college students. Our key findings showed that some extrinsic issues are related to cooperative job preference, however the factor that has the most significant impact is the cooperative knowledge. This has important implications for the cooperative movement and for policy makers in charge of cooperative development.