Why Do Millennials Change Jobs So Often?

why millennials change jobs so often job hopping generation z

According to recent studies, the average millennial will move jobs 12 times during their lifetime, and when it comes to Gen Z, this figure is expected to rise further. LinkedIn data shows that millennials are the generation most likely to switch jobs frequently, with six in ten open to new job offers. Very few younger workers stay in their place of employment for more than two years, with 43% reporting that they plan to leave before hitting the two-year mark. But why do millennials change jobs so often and what can employers do to keep them? 

1. For A Pay Raise 

Most people expect to be adequately rewarded for their contributions, and although we may be reluctant to admit it, money is one of the greatest motivators. Of course, this will likely motivate many young people — if they feel they are in a dead-end job, with no clear course of development and no promotion or pay rise in sight, then jumping ship seems like the only solution. Although sometimes viewed as cutting corners, the millennial workforce would argue that this is a case of ambition and knowing your own worth. 

Forbes reports that job hoppers in a healthy economic market could enjoy a pay rise of between eight and ten percent. For some, even 20 per cent is achievable. This may all sound tempting, but if your only motivation for job-hopping is monetary, then you could be shooting yourself in the foot. A substantial pay rise may be appealing, but if you are out of your depth in a new role, the resultant stress won’t be worth it. 

2. For Ethical Reasons 

Personal ethics are also a huge factor when it comes to employment and job hopping. On average, millennials and Gen Z employees tend to prioritise environmental and social issues more than the generations before them. If the overall ethos or mission of a certain company isn’t a fit for them, these workers often won’t hesitate to walk away. 

3. Moving To A New Location 

The millennial workforce is also driven by location. Once, location was seen as a factor that would limit your job choices. Now however, new locations spell big opportunities for ambitious young workers. On average, people are now waiting until later in life to settle down, get a mortgage, and start a family. Instead, millennials are using their twenties to advance their careers and explore uncharted territories — taking new jobs either regardless of, or because of, the location. 

4. For A New Challenge 

Lastly, millennial workers like a challenge and will leave a job if boredom sets in. If a worker feels that they are stuck in a rut, undervalued, or under-stimulated they will decide to look elsewhere. Due to the decreasing stigma surrounding job-hopping, this is becoming more and more common. 

5. How Can Businesses Retain Millennial Employees? 

So, what can employers do to hold on to their millennial employees? For employers, the longevity of their workforce should be a major concern. Businesses with a high turnover of staff are in danger of a damaged reputations. Not to mention the amount of training they will need to perform if they have to keep replacing staff members regularly. So, make sure your business is doing all it can to maintain key staff members by: 

• Listening to your employees. 
• Clearly laying out development plans and pay rise opportunities. 
• Being flexible with location and working hours. 
• Creating a positive work environment with strong values. 

All of these factors combined will help to create a positive working environment that will show your employees that they are valued within the business. As well as taking these measures, you could even embark on a business coaching course to make sure that you’re adhering to your employees needs. This will result in happy workers, increased business growth, and countless opportunities for your company.

Bootstrap Business Blog Newest Posts From Mike Schiemer, Partners, & Blog Outreach Services