Nearly a third of millennials plan to leave their company within a year. Here’s what employers can do about it
Almost a third (30%) of millennial workers see themselves working for less than a year at their current organization.
The majority (93%) are eager to learn about new job opportunities and 66% say they would talk to a recruiter, according to research by LinkedIn .
The survey of more than 13,300 millennials – the generation born between the early 80s and late 90s – uncovered some surprising insights about their attitudes to work and expectations of career development and the workplace.
Here are some highlights from the research:
Millennials seek new opportunities
The findings suggest millennials are not wedded to their current roles and are keen to explore other job opportunities.
Thirty-percent see themselves leaving their current company within a year, compared to 21% of generation X and 17% of baby boomers, who say they plan to stick around longer.
Millennials might not know the company
Almost a quarter (24%) of millennials who had heard about a job opportunity didn’t know anything about the company, compared to 18% of gen Xers and 16% of baby boomers.
And not knowing what the company is like is the biggest obstacle to millennials accepting a job offer, the survey found.
However, social media could be a way for employers to reach out to millennials, because one in three use it to find a job.
Millennials aren’t as purpose-driven as we might think
While other research suggests that millennials are attracted to employers with a clearly defined sense of purpose , LinkedIn’s survey indicates that purposeful work may not be so important to this cohort after all.
Just 30% of millennials believe that work should be purposeful, compared to almost half (48%) of boomers and 38% of gen Xers.
However, the first thing millennials want to know about companies are their ‘culture and values’.
So what do millennials really look for in a job? LinkedIn’s survey found that they are most likely to accept a new job because of better compensation and benefits. This means that things like flexible work schedules, free lunches and other perks are important.
The survey also suggests that employers can appeal to millennials by offering personal training, mentoring or even private career coaching, which will make young workers feel valued and build loyalty towards the company.
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SOURCE: World Economic Forum