Millennials are notoriously known for their “dating” approach to employment. They’ll try one company out, and if they don’t like it after a while, they’ll try another.
But a new study by the employee recognition software company Achievers found that young people aren’t just overly-selective. It’s that times have changed, and companies need to better respond to having a younger workforce.
Achievers partnered with Experience Inc. to survey 7,944 college students across the country. The responses indicate that the average length of time Millennials want to stay with a company is 4.7 years — more than double the time they are actually staying.
The No. 1 reason they’re leaving is their inability to move up in their career, which 54 per cent of the survey respondents listed as their top motivator for working at a company. Suleman says companies can easily retain more employees by showing them there’s a path for progression.
The study also found that Millennials also dislike annual performance reviews and want frequent and immediate feedback so they know if they’re doing a good job and how they can improve.
Basically it comes down to the need for better communication between employers and young employees.
Achievers sent us an infographic with more from the study:
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