The Millennial Generation has more freedom than generations of the past. This applies to many aspects of their lives, including career advancement. Job hopping is the new normal for millennials. This new trend is transforming the corporate landscape in various ways.
Job Stability Is Extinct
The definition of the American Dream has changed. It’s no longer a person’s goal to buy a big house with a white picket fence in the suburbs. Millennials want happiness, even if this means more financial instability. Their American Dream means having strong ties with family and friends.
Millennials feel no real loyalty to any employer. It was only ten years ago when The Great Recession happened. Many of their parents lost their jobs and pensions. When the country eventually recovered, companies were stronger than ever. Yet, their parents were still unemployed. Those who managed to find work ended up with smaller wages and benefits. Millennials view work as a mutually beneficial transaction.
Success Through Job Hopping
91% of millennials expect to stay at their jobs for less than three years. This means they could have up to twenty jobs over the course of their lives. In the past, job hopping would have been a red flag. Nowadays, employers now should expect it and find ways of adapting.
Methods of attracting and keeping employees must change. It’s important to learn how to retain a millennial employee for as long as possible. Employers are encouraged to institute recruiting methods to discover new millennial employees that they will need in the near future.
Job hopping quickens the pace of career advancement for millennials. They don’t feel an obligation to “pay their dues” like generations past. Climbing the ladder is easier when transitioning from company to company. Millennials are also assured a pay increase when they find a new position elsewhere. If they were to stay within a company for a long time, the rate would is incremental and less lucrative.
Keep Millennials Interested
Getting millennial employees engaged in the job will be different than in the past. Only 29% of younger workers have reported feeling engaged at their jobs. A lack of passion in their daily tasks means a lack of adequate work performance. The employer must create worth in the work and help millennial workers to feel excitement.
Training programs should be offered to keep a millennial worker interested. They don’t want to push papers and do the same tasks everyday. Let them discover more about the company and give an opportunity to even learn from other departments. However, don’t just put them in a room and talk at them. They need a variety of learning methods, including interactive videos.
There are upsides for companies. The employee will have learned a great deal in their past jobs and bring that knowledge to their current employer. They can easily adapt to the new workplace.
New methods must be performed to connect with millennial job seekers. Digital marketing is a way to acquire excellent applicants. Young people have various social media accounts. Instagram is a photo and video sharing mobile platform that is utilized by younger people. They also spend a significant amount of time on Facebook. A company can create a presence on those sites to appear more active and interesting. Developing a strong visual identity will make a lasting impression.
Millennials are transforming the job market. Their tendency to job hop requires new training methods and incentives. It’s also important to establish a strong company image in order to attract prospective young employees.
by: By: Isaac Christiansen