If you don’t expect millennials to stick around for long…you’re right. This Bureau of Labor Statistics figure is shocking in comparison with other generations
And don’t think they’ll grow out of their job-hopping ways: there’s been a permanent shift in expectations for most millennials, says researcher Josh Bersin of Deloitte Consulting.
“Twenty-first century employees have radically different expectations about work than those of previous generations,” he says. “Today, people want to work for organizations that continually invest in developing their skills, thereby enabling them to stay relevant in the ever-changing workforce. They also want balance, passion, and purpose in their jobs.”
Evidently, many employers have failed to give young workers that balance and purpose – and it seems they know it, given that 40% of employers told Bersin their organization is weak when it comes to helping their employees achieve work-life balance.
Washington State University professor Dogan Gursoy pointed to cultural differences between generations as one cause for high millennial turnover, particularly in low-wage occupations. “Boomers live to work, while millennials work to live,” he says. “Boomers are willing to wait their turn for promotions and rewards, and they are very loyal.”
“On the other hand, younger generations want immediate recognition through title, praise, promotion and pay,” he says. “They also want a life outside of work; they are not likely to sacrifice theirs for the company.”
You might also like:
Unhappy days for baby boomers
Sustainability: the secret to recruiting millennials
This man can tell you who’s about to leave your company