For years, millennials have been called out for job hopping and always looking for the next best thing. So, what’s causing the job hop and what can companies do to retain their younger employees?
Charlie Harding is the CEO of Let’s Roam and he’s a millennial. He says he knows what the 30-somethings are looking for when it comes to a job.
"If a company is rigid and inflexible, it allows employees to job hunt or job hop, especially millennials," he says.
However, the job market is tight right now and it’s giving millennials the option to choose the job that’s right for them. That could be part of the reason why they are job hopping.
“They have a ton of confidence that if they were to leave that it would be OK,” says Karen Policastro, with the international recruiting firm Robert Half. “And if they go somewhere and it didn’t work out, they could just go somewhere else.”
Millennials are in the driver seat and want new and unique experiences.
Policastro says there’s a lot of competition, and millennials are looking for bigger paychecks, work life balance, healthy company culture, potential for career growth and a manager that values them.
“If they aren’t getting it where they are, they are quick to leave,” Policastro says.
Seventy-five percent of employees ages 18 to 34 view job hopping as beneficial compared to 51 percent of workers 55 and older.
“I think there is a stigma that there is a lack of trust and loyalty,” Harding explains. “But it’s really up to the company to build that trust and loyalty. If they are leaving, it’s not because of the employee; it’s because of the company."
No matter the generation, Harding believes it’s fairly simple for companies to retain employees.
“If you are able to make employees happy and have a strong leader and understand what they want and how you can help them accomplish their goals, then you can do that,” Harding says.