In the 50s to late 60s, most people never considered switching jobs—they enjoyed the stability and security of a steady income. Moving from job to job was certainly uncommon. Now, with the rise of the Millennials entering the workforce, job hopping is as frequent as ever and can be seen as the new “norm” according to Jeanne Meister, writer at Forbes. The main issue to address is how do companies keep these employees for more than a year?
When it comes to the Baby Boomer generation, we tend to think of the “American Dream;” a white picket fence in the suburbs, the housewife taking care of her daughter and son, the father driving a respectable automobile and providing for his family with a reputable career. Stability was essential. Stability means having a steady career and continuing to work at the same company with the potential of maintaining the same position. Back then, this was norm. Mostly everything was family oriented and providing for the family was a top priority.
Now with Millennials entering the workforce, the notion of stability is no longer present. Millennials contribute fresh eyes and perspectives to existing problems and issues. They are in tuned with current marketing trends, and may be more beneficial than their counter-parts, the Baby Boomers—who may be unable to work longer hours or follow through with physical work demands. In this day and age, media influences practically everything; something that is familiar for Millennials. For many Millennials, especially the fresh graduates, providing for a family in their lives today is not on their radar screen, allowing them to solely dedicate their lives to their profession. With that said, why wouldn’t you want to hire a Millennial?
This newer generation values flexibility, self fulfilling happiness, and having their ideas heard—a deadly combination for job hopping. In order to keep up with this new phenomenon, executive leaders and HR departments should re-engineer their recruitment strategies. After all, no one wants to lose a superstar employee with great ideas and innovation.