Millennials have really high turnover rates at businesses that they work for. A University ran a study to find why the quit. They found that a reason that they may quit is that they are buying into youth rebellion. In addition to that, they might have a character flaw in themselves or those that they work with that makes it difficult for them to dedicate themselves .
- These young adults, ages 21-34 and also known as Generation Y, change jobs three times more often than other generations. In fact, 48% of Millennials are planning to leave their jobs within the next 24 months.
- The bottom line: Increased turnover is the outcome of a shift in workforce needs and values; a shift that is here to stay.
- Accept that if your organization can’t keep it’s young talent, there’s a reason why, and it likely has little to do with their age and more to do with your company’s inability to meet their needs.
“Employee turnover is now costing U.S. companies an estimated $30.5 billion per year.”