Introduction
One of the most valuable assets that any company can have is their workforce. The millennial generations make a large portion of the labor force today, and in some instances, they are significantly appreciated because of their innovating skills. However, they are equally associated with many stereotypes, with many holding that they are obsessed with technology, immature, noncommittal, and most fundamental, their tendency to hop from one employer to another (Alton, 2018). Equally, researchers have opined that in today's corporate climate, businesses that fail to incorporate the incoming generations of workers are headed towards ultimate failure. Therefore, companies have a dilemma when it comes to dealing with the young population of workers. According to a research conducted by the Jive Communications, out of the 2000 American millennials who participated in the survey, more than a half (53%) have changed jobs more than thrice since the beginning of their careers (Council, 2018). With their vast population, millennials are an essential group of people to consider as human resources. However, their tendency to hop from one job to another due to a lack of emotional and behavioral connectedness to a company has added to their unreliability.
Research Findings
The millennial generation comprises of people between the age of 18 and 34. Companies have contemplated employing this group of individuals due to their reputation for job hopping. They show a systematic lack of attachment to organizations and move from one job to another freely more than any other generation. According to research by Gallup, 21% of millennials admit to having changed jobs with the last one year. More fundamentally, their turnover costs the United States' economy a whopping $30.5 billion annually (Gallup n.d.). They depict a lowered willingness to remain in their current jobs. Studies have also proven that these individuals are constantly looking out for new jobs. For instance, research continues to show that up to 60% of the millennials are open to new job opportunities which about 15% higher than people outside this generational group (Gallup n.d.). Another 2016 research by the Jobvite survey found out that 42% of the millennials change jobs in every one to three years compared to only 18% of people from other generations (Alaimo, 2018). The standard definition for job0hopping is the tendency to change jobs in a period of within less than two years. For prospective employers, this can be a major problem especially if they have invested a lot of attention to their millennial workers.
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A staffing firm known as Robert Half conducted a survey in which they concluded that a whopping 64% of workers are approval of job-hopping. More than 75% of employees below the age of 34 believe that job-hopping could be essential for their career advancements. Therefore employers have remained keen on this generation of workers because of the past experiences (Ferri-Reed, 2014). Companies use a lot of money in fulfilling recruitment obligations. As such, it would serve a significant blow if the employees stay at their places of work for a period of fewer than 18 months. Research has also shown that it takes employees time spanning up to six months to settle in their position and understand their job. Managers, therefore, have to remain keen if the employee will be long enough or they are on the verge of moving to new opportunities (Job-hopping is on the rise. Should you consider switching roles to make more money?). Research also shows that although a majority of people believe in the practice of job hopping, 36% of the workers are opposed to the idea. The Federal Bureau of Labor Statistics (BLS) remains aware of the constant job-hopping among the young generation. It recently reported that an average America would hold up to about 11.7 jobs between 18 and 48 years old (Adkins, 2016).
Reasons for Seeking New Employment Opportunities
Today, a typical individual will have up to 12 different employers in the entirety of their lifetime. The younger workers are almost twice as likely as their older counterparts to change jobs over a short period. Although there is a perception that money is the driving force, this could be further from the truth. Job promotion is an essential aspect of an individual's career development. Also, people live in an age of technological and industrial development leading to the creation of new job opportunities. As such, when employees feel that their chances of climbing the corporate ladder are minimal, they can be tempted to walk away. Company or corporate culture is another essential factor that determines whether the millennials will move or stay in the present job locations. An individual can have the necessary skills to complete a task, but if the organization culture and philosophy do not match theirs, they are compelled to look for new opportunities elsewhere (Backman, 2018).
Job-hopping on the part of the millennials can be viewed as a way of strategically shaping one's career. One of the factors considered while making a shift from one company to another includes the prospect of a salary increase. A survey by Robert Half proved that 31% of the respondents felt that this was the primary driver in their decisions to look for newer opportunities (Shirshekar n.d.). Diversification of skills remains another essential strategic factor that can result in a change of job among this population segment. Millennials feel that a change in a job will give them an opportunity to expand their skills important in their career prospects. Young adults, especially in their late twenties, will change their jobs frequently to increase their responsibility, add to their experience, and most importantly, trace their path towards upward mobility.
The nature of the responsibility significantly determines whether millennials will stick to their jobs. Research shows that many millennials, despite their age, feel more attached to duties that have responsibility and power such as management. Millennials in fields requiring management are more likely to retain their jobs more than their counterparts in other types of jobs. Research has shown that the rates of hopping are at 11.9% and 36.2% in managers and non-managers respectively (Kline, 2018). Some millennials shift to find new working environments that align with their values. Also, others are continually looking for environments that they can learn and become better professionals as they continue with their job endeavors.
The Role of a Mentor versus a Boss
Research shows that the millennials are the single largest generation in the US and will represent up to 75% of the nation's workforce by 2025. It is a new generation that has come with many changes never witnessed with the previous ones. Companies have in the past relied on a strict management style with a boss that gives instructions, conducts supervisions, and sets goals for the workers among others. However, the same cannot be said of this generation. One of the reasons for their constant job changing is to escape the traditional roles occupied by the company "bosses." On the contrary, millennials today do not need bosses but mentors who will assist them in professional development. The younger generation requires leaders who can drive them to achieve success. On the contrary, bosses regard workers as resources important in attaining the goals and objectives of the organization. Millennials are after leaders who instill in them a sense of bigger purpose and the much-needed confidence in tackling some of the most challenging roles they will encounter in the professional development (Meister, 2012). As such, mentors create an enabling environment for a millennial employee to experience growth and an opportunity to learn. Therefore, this can play a vital role in positively influencing their longevity.
Millenials Perceptions on Bosses and the Corporate Ladder
Companies today have leveraged effective leadership as the primary way in working towards their respective goals. As such, this has become increasingly resourceful given that the workforce has found the much-needed impetus to adapt to the fast-changing and high demand markets infiltrated by the new generation (Shaw, 2018). Although the traditional hierarchy continues to function in organizations, the way leaders relate to their subjects has tremendously changed. The millennials, for instance, have shown criticality with the system of bosses. The bosses come with a command-and-control type of leadership that has significantly influenced effectiveness. The younger generation is opposed to the culture of "do as told" especially in an age where employee engagement and innovation are arguably two of the most critical factors in organizational success (Thompson & Gregory, 2012).Instead of being told what to do, millennials want to understand why they are obliged to do it. The millennials do not want to compromise their values and want to be part of a company that respects their authenticity. Thirdly, they thrive in a system of open communication that can be deprived if the leaders are excessively bossy. Netgain (2017) asserted that millenials are opposed to the notion of climbing the corporate ladder because of what it entails. Here, success is defined within the realms of working for more extended hours, patience and showing utter humility and submissiveness. They continue to show less trust in the system and believe in the power of immediate opportunities.
How Employees Can Improve the Work Environment for Millenials
After understanding the problems and demands of the millennial generation, employers must take in specific considerations when employing them. As earlier discussed, these individuals are always looking for better organizations that can appreciate their values and build their careers for the future. Therefore, employers must continuously pose challenges to this generation of individuals. They should continually face brainstorming activities to gain to ensure that they acquire new ideas and insights (Meister, 2012). Millennials require mentors to enhance their development. Training and mentorship programs must be leveraged to ensure that the millennials develop in their respective work areas. The younger generation of workers requires constant taking and communication, and employers must understand their goals and ambitions. They also need acknowledgment and appreciation whenever possible. Companies must create mechanisms for recognition and appreciation to ensure that the millennials are constantly motivated even in situations that seem challenging (Shirshekar n.d.). One of the most ignored factors when it comes to the employment of the millennials is flexibility. Young workers require freedom to explore different areas of the professional outfit, and as such, they need the freedom to maneuver and showcase their abilities.
Conclusion
With their vast population, millennials are an essential group of people to consider as human resources. However, their tendency to hop from one job to another due to a lack of emotional and behavioral connectedness to a company has added to their unreliability. Statistics have shown that these individuals have a high probability of changing their jobs more than any other generation. They have differing values and perceptions regarding their career objectives and demonstrate little belief in climbing the corporate ladder. As a remedy, organizations must focus on mentorship and create environments that are cognizant of their needs. With this being the largest population segment, employers cannot afford to ignore their impact.
References
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