Millennials. Disloyal Quitters Or Just Plain Ambitious In Their Jobs?
A recent survey released by Deloitte covering university educated professionals born after 1982 across 29 countries revealed some interesting, but not all too shocking findings about the intentions of millennials in the global workforce.
66% Hoped to have different Jobs within the next 5 years
44% Said they would quit within the next two years
25% Responded saying they wanted to “jump ship” this year, start a new job, or do something different.
Within any Human Resources department these figures represent a worrying and unsustainable future, companies looking to carry out their 5 and 10 year plans will face worrying and expensive knowledge gaps. The iceberg of hidden costs is hard to quantify and measure.
Are Millennials at fault?
The millennial workforce has been a major topic of discussion and debate for some time now, ranking as a top priority on the agenda of HR leaders worldwide. In the United States alone the millennial demographic already represents the majority of the workforce and both developed as well as emerging economies will inevitably follow suit.
On February the 12th an article on Bloomberg went as far as to accuse young millennials of acting without loyalty and in all fairness, personal gain seems to be a major motivation in this demographic. 22% of those surveyed ranked Pay and Financial benefits as the major driver with their choice of organisation.
However to conclude that Millennials are disloyal in today’s workforce is a subjective accusation and in my opinion a wrongful one, reading deeper into Deloitte’s survey the most influential factors for making decisions at work for both Junior and Senior Millennials were an individual’s personal and moral values (#1) as well as the impact on clients and customers (#2), both ranking higher than the influence of meeting the employer’s formal targets and objectives (#5).
Perhaps it all boils down to a sense of purpose and finding a shared vision between employers and their millennial workers, from the survey we can see this as an emerging gap.
What we do know for certain is that Millennials are already here and the influence they have on your company and our places of work is only going to grow stronger, pushing back on the goals of this demographic will likely have some serious side-effects to an employer’s ability to attract, develop and retain talent. Looking at the bigger picture it will also effect who buys, collaborates and does business with your company.
Call and treat them as disloyal at your own peril, true loyalty cannot be brainwashed into Millennials.