Millennials are job-hoppers like no other generation
Gallup's latest report, How Millennials Want to Work and Live, provides an in-depth look at what defines the millennial generation as employees, people and consumers.
Gallup found that 21% of millennial workers had switched jobs in the last year, a number that is more than three times higher than non-millennials who report doing the same. Six in 10 millennials say they are open to different job opportunities, which is also the highest percentage among all generations in the workplace.
And millennials who want different roles or new opportunities aren't staying with their current company to find them. A separate Gallup study shows that an overwhelming majority of millennials (93%) say they left their employer the last time they changed roles. Only 7% took a new position within the same company.
Millennials are a flight risk, making it vital for organizations to understand how to engage and retain these employees. On the flip side, millennials' willingness to switch jobs and companies presents a substantial attraction opportunity for organizations. But to capitalize on that opportunity, organizations need to offer them what they want out of a role and company.
Millennials are consumers of the workplace. They shop around for the jobs that best align with their needs and life goals. More than ever, employers need to know and act on the factors that make their company appealing to these candidates. They have to make it easy for prospects to choose them over their competition.
But what exactly do millennials look for in their job searches? Gallup asked workers how important particular attributes were to them when applying for new jobs.
Among millennials, Gallup discovered that the top five factors are: opportunities to learn and grow, quality of manager, quality of management, interest in type of work, and opportunities for advancement.
At their current stage in life, millennials fundamentally think about their role as a steppingstone and a growth opportunity.
They want to feel deeply committed to their role and want to work for a manager who will invest in their development. Millennials care about having a great manager and being part of a company with a great management culture. ■