Why are Millennials known as the 'Job-Hopping Generation'?
There are generational differences between Millennials, Gen Z and Baby-Boomers in the workplace. They all have different views and priorities when it comes to work/life balance and different personal expectations of what a working life looks like.
Gone are the days where it's the norm to simply hang on to a well-paid job because... well because you are settled. Millennials search for the job that best fits their living situation, personal life, lifestyle, personal interests and more.
There are 4 main reasons why Millennial are known to be 'job-hoppers':
1/ Sense of Purpose
Millennials are a generation who aren't going to just going to sit back and stay sedentary in the same role for years waiting for their time to come or role to evolve. They are a generation who want to feel like they contribute to something and make a difference with the work they are doing. "Working" for Millennials isn't just getting through the day to get paid, it's about having an impact on a task that makes a difference.
2/ Work/Life Balance
Having a healthy work/life balance is an important in the eyes of Millennials. A good work/life balance is valued as more of a success than climbing the corporate ladder or earning a higher salary. Millennials are more interested in having the opportunity to work remotely or have flexible hours, as they are a generation in the workplace who have the technology to allow them to work anywhere and at any time. Being able to maintain a healthy life around work is a big deal to Millennials, so to effectively retain your Millennial employees, try to create a flexible and empowering environment.
3/ Personal development
Millennials value career growth and growing as an individual within a company very highly. It keeps them motivated and enthusiastic about their job and the work they are contributing to. Millennials want to feel like they are challenged while working towards a target that will help them grow as an individual, as well as a possible future development for them in the company.
4/ Little innovation
Millennials aren't interested in working for a company that isn't planning for the future or adapting to the fast paced marketplace we are in today. Being at a company where the employers challenge their employees to help evolve the business is an important for Millennials who are looking for the job that best suits them.