Job-hopping was historically frowned upon and regarded as a sign of bad work ethics. Employers would frequently keep a single employee for up to five years, if not longer, in exchange for employment stability and promotion chances. This approach has utterly disintegrated during the previous decade.
Several variables contribute to significant employee turnover, but when older generations are excluded, it is clear why millennials and generation Z are job-hopping. Interest shifts, business morale, work-life balance, excellent compensation, and greater training and career chances are all factors.
For the money
How about increasing your pay by 10% to 20%? That is the average amount of money millennials and Gen Z employees earn when accepting a new job under the correct market circumstances. This is one of the reasons why millennials and Generation Z have low employee retention rates.
When compared to earlier generations, Millennials and Gen Z are both more confidence in their earnings, with many reporting their financial status. Most of millennials, on the other hand, believe that changing occupations is the greatest way to enhance their income.
For culture
The culture of a company is one of the primary reasons millennials and Gen Z are job-hopping. They may leave if they do not believe they are receiving adequate benefits and work-life balance. This is why, in recent years, there has been a change in employee experience.
For purpose
The benefits of the job are excellent, but have you ever considered working for a cause? Many millennials and Generation Z employees desire employment that offer them a feeling of purpose and are aligned with their personal aspirations.
The desire of millennials and Gen Z for meaning and a sense of “contribution” in their job is strongly related to engagement. Employees that do not feel appreciated, do not agree with the company’s aims, and do not feel connected to their position frequently lose interest and finally leave.
