January 29, 2018
Many workers will find themselves quitting a job at some point throughout their professional life. Studies from Time.com1 show that the workers most likely to quit their jobs are those between the ages of 18 and 34 years of age. The reasons almost all of them quit their jobs is plentiful, however, they all stem down to expecting more, wanting to feel like they do meaningful work, and wanting to see their career go somewhere in the future.
Companies are sure to feel the effects of losing a valuable worker in their company, so many companies are seeking to find ways to help keep employees from walking away from the job.
The following are 6 of the most frequent reasons workers state forces them to leave their job:
- Feel Their Careers Are Stagnant: Many Millennial workers leave the company they are working with because they feel like there is no hope for upward movement within the company. "Upward Movement" can mean a variety of things from a lack of promotions to not getting raises or being given additional responsibilities that help them learn more about their jobs. Millennial workers thrive on being allowed to have added responsibilities and the chances to learn new things and take on new responsibilities. Being denied these opportunities, which will lead to career and income growth will send many Millennial-aged workers out the door looking for a company that will provide them such opportunities.
- Lack of Opportunities to Make Money: While many Millennial workers do not cite pay as the most important factor in whether they stay at a job, the ability to make more money and increase their income is required to keep workers satisfied. Millennial workers face higher costs of living than ever before and do need to make an adequate salary that can increase to allow them to live a comfortable life and help them provide for their family from the work they do. Stagnant pay that never increases or offers benefits or raises will at some point force these workers to go find new work where they can live more comfortably.
- Millennial Workers Seek Change & Adventure: A chart from Time's magazine in their money issue on their website2 shows that about 70% of males and females out of college only stay at their first job for 3 to 12 months after graduation. Only about 20% stay for longer than 1 year. This can be for a variety of reasons, but largely means that Millennial workers are determined to go out in the world and carve out a niche in their given industry to keep them interested in their work and to provide a sense of ever-continuing change and progress towards their ultimate career goals.
- Boredom & Redundancy: No worker wants to be bored out of their minds or unchallenged by their job. Given that the average worker spends about 1/3 of their waking hours during a week working or transporting to or doing something related to work, they at least want to enjoy what they are doing. If the employee is not given the opportunity to engage, discuss, and perform their work in a meaningful way and doesn't feel as they are contributing to the company, it's not likely a job they will want to keep for a long time. Companies should ensure that all workers feel as though they make a positive difference in the company's performance and have a meaningful role in their jobs, or they will likely end up looking for somewhere where they feel a lot more of that.
- Many Millennial Workers Work Outside The Field of Their College Degree: According to Time magazine's money issue3 more than 40% of recent college graduates could not find work in their studied field. This has led many Millennial workers to go to leave their jobs and field of study to find a job in another field of study that they find satisfying and fulfilling.
- Quitting A Job Is Forgivable, But Don't Make It A Pattern: While quitting a job is a forgivable action in the books of many companies, it should not be made a habit. No manager or boss is going to be impressed with a worker who has been out of college 2 years and quit 10 jobs. This shows a lack of commitment and dedication to the company you are working for. While no one is saying you have to work there till you are 65, job hopping for too long can make it look like you don't know how to take your work seriously and keep a commitment to the company who is taking a chance on investing in you.
These are just a few things that can drive workers to quitting their jobs or looking for something that aligns more with what they want to do with their lives. If companies are mindful of what workers are looking for and strive to provide a quality work environment, they will be able to keep employees at their company for longer without worrying about losing their best talents to other work.
For more information on what makes young Millennial workers tick and want to quit their jobs and also on company strategies to help you retain your most valuable employees, feel free to contact us.