Millennials Can’t Afford to Job Hop
Millennials are probably the most maligned generation yet to enter the workforce. The demographic cohort born between 1982 and 1994 is often portrayed as disloyal job hoppers — self-involved idealists demanding a steady diet of recognition and raises. In short, a human resources nightmare, right?
Wrong. A new study on Misunderstood Millennial Talent: The Other 91 Percent by the Center for Talent Innovation shatters the stereotype that all Millennials are entitled whiners just waiting to jump ship. Far fewer Millennials are a flight risk than you think, and the reason is stunningly simple: money.
Forty percent of Millennials with a financial safety net - those who have families that could support them indefinitely if they were to quit or lose their job or who receive financial gifts from family members totaling at least $5,000 a year - say they plan to leave their jobs within a year. But these financially privileged folks represent fewer than one in ten Millennials CTI surveyed born between 1982 and 1994 who are working full-time in white-collar professions in the U.S. This means that the vast majority of Millennials are ready to commit to their current employer and invest prodigious amounts of time and energy in their work in the hope that their employers will invest in them in return.
In short, even as HR professionals recognize Millennials as their next workforce, they see no reason to groom them for leadership until they start acting, sounding, and looking like previous generations. That’s a mistake with profound implications. Since exposure to other countries, cultures, and consumers helps give young professionals the knowledge they need to grow those markets and crack open new ones, denying them exposure or field experience jeopardizes both corporate revenues and future expansion prospects. And if leadership development (typically reserved for high-potential talent) and cross-generational interaction are withheld from Millennials, then the imminent exodus of Boomers threatens to pull decades of institutional knowledge and market expertise out the door with them.
A more nuanced understanding of what Millennials really need and want would suggest that companies are better off doing the following to attract, retain and develop their Millennials:
Create a forum for cross-generational communication and show them how to create value.
Companies that dismiss Millennials until they “grow up” are ignoring demographic reality. They already have grown up. And the numbers will only increase.
The smartest thing forward-thinking companies can do is to stop treating Millennials as if they are an alien species and at least listen to, if not embrace, their ideas and professional desires. “The perception that we need to turn the workplace on its head to satisfy Millennials just isn’t accurate,” observes Nancy Testa, chief diversity officer at American Express, a sponsor of this study. “Millennials are looking for career growth, competitive pay, and purposeful careers – things every generation wants. It’s the delivery that’s changing, and frankly, it’s changing in a way that improves the workplace for everyone.”
Tel: +65 3158 6052
Email: sales@SourceEC.com.sg
Website: SourceEC.com.sg
原文見： Millennials Can’t Afford to Job Hop | SourceEC - Corporate Gifts Singapore | Promotional Gifts | Door Gifts Blog
Wrong. A new study on Misunderstood Millennial Talent: The Other 91 Percent by the Center for Talent Innovation shatters the stereotype that all Millennials are entitled whiners just waiting to jump ship. Far fewer Millennials are a flight risk than you think, and the reason is stunningly simple: money.
Forty percent of Millennials with a financial safety net - those who have families that could support them indefinitely if they were to quit or lose their job or who receive financial gifts from family members totaling at least $5,000 a year - say they plan to leave their jobs within a year. But these financially privileged folks represent fewer than one in ten Millennials CTI surveyed born between 1982 and 1994 who are working full-time in white-collar professions in the U.S. This means that the vast majority of Millennials are ready to commit to their current employer and invest prodigious amounts of time and energy in their work in the hope that their employers will invest in them in return.
In short, even as HR professionals recognize Millennials as their next workforce, they see no reason to groom them for leadership until they start acting, sounding, and looking like previous generations. That’s a mistake with profound implications. Since exposure to other countries, cultures, and consumers helps give young professionals the knowledge they need to grow those markets and crack open new ones, denying them exposure or field experience jeopardizes both corporate revenues and future expansion prospects. And if leadership development (typically reserved for high-potential talent) and cross-generational interaction are withheld from Millennials, then the imminent exodus of Boomers threatens to pull decades of institutional knowledge and market expertise out the door with them.
A more nuanced understanding of what Millennials really need and want would suggest that companies are better off doing the following to attract, retain and develop their Millennials:
Create a forum for cross-generational communication and show them how to create value.
Companies that dismiss Millennials until they “grow up” are ignoring demographic reality. They already have grown up. And the numbers will only increase.
The smartest thing forward-thinking companies can do is to stop treating Millennials as if they are an alien species and at least listen to, if not embrace, their ideas and professional desires. “The perception that we need to turn the workplace on its head to satisfy Millennials just isn’t accurate,” observes Nancy Testa, chief diversity officer at American Express, a sponsor of this study. “Millennials are looking for career growth, competitive pay, and purposeful careers – things every generation wants. It’s the delivery that’s changing, and frankly, it’s changing in a way that improves the workplace for everyone.”
Tel: +65 3158 6052
Email: sales@SourceEC.com.sg
Website: SourceEC.com.sg
原文見： Millennials Can’t Afford to Job Hop | SourceEC - Corporate Gifts Singapore | Promotional Gifts | Door Gifts Blog
Millennials Can’t Afford to Job Hop
Reviewed by Souvenir
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Reviewed by Souvenir
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9:30 AM
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