Generation Y. They’re here to stay, or are they? An even more important question many want an answer to is, how are we keeping Gen Ys from job hopping? As we see more and more Gen Ys joining the workforce, there is an increasing trend for them to job hop.
Find a job, work for a few months to a year and then move on. Everyone working their set 9-5 in cubicles, accruing your hours for long service leave over your 20-year career with the same company… These workplaces are slowly becoming a thing of the past. Usually described as Generation Y or Millennials, those born between 1980 and 1995 are often described as narcissistic, lazy and tech savvy.
Recent statistics from McCrindle and the Australian Bureau of Statistics provide an interesting snapshot of the current workforce in Australia. Now making up the highest proportion of workers in Australia, Gen Ys make up 34% of the workforce, followed by Gen X and the Baby Boomers making up 31% and 25% respectively. Also, the average length of time spent in one job has fallen to 3.3 years which equates to about 17 different jobs over your working life! Only set to make up a higher proportion of the workforce in future, the changing demands of the younger generation on their workplaces of choice should shape future business goals and decisions.
Increasingly, Gen Ys are moving from job to job after staying for often times much less than a year. Symptomatic of their lifestyles and the instant gratification world we all are living in now, there are a number of reasons stated for the preference of this job hopping work life:
- Wanting an increase in salary quicker –
- Increasing your experience within your industry in a variety of roles
- Constantly looking for the next challenge
So with that in mind, there are a number of things that you can do at your workplace to not only ensure that the tech savvy, achievement orientated Gen Ys are wanting to stay around longer, but also your long-term employees are happy and motivated.
- Workplace Flexibility
With origins as far back as 1856 here in Australia, the eight hour work day, 9-5, Monday to Friday isn’t as relevant as it was and employees are demanding flexible options to the way that they complete their work. We’re now more connected than ever and often workers can complete their work from home, a coffee shop, or after normal work hours. Providing this flexibility can increase your employee loyalty, their quality of life, job satisfaction and their productivity.
- Provide Room to Grow and Clear Career Paths
Gen Ys want results and they want them yesterday! If they’re put into a job they want to know that they won’t be stuck there for the next 10 years. As Gen Ys are extremely achievement driven, you need to ensure that the role is clearly defined and make note of where it leads to within the organisation and the perks and rewards that accompany their growth within the company.
- Provide Small Perks/Reward Programs
Following on from the last point, make your workplace somewhere where people want to go, not just ‘work’. Create a work culture that rewards your employees and creates an environment that isn’t just partition walls and plastic laminate desks. Encourage a more casual Friday or have offsite events, offer gym subsidies or other health related programs, have free lunch days or a drinks fridge, reward sales targets creatively, the list goes on!
- Provide a Challenging Work Environment
When Gen Ys get bored, they get itchy feet and when they get itching feet, they move on. Often described as lazy and apathetic, this is often not the case. Provide your employees with a challenging job role that has clear goals that contribute to the business in a meaningful way. When challenged, employees will feel empowered to achieve and take greater satisfaction on a job well done. Often, graduates are offered rotational work, where they spend a portion of time, say 3 months, within a certain department. This both challenges their current skills, but also enables them increase their competencies and get a taste of all areas of the company to settle on a job role that will engage them. Another way to encourage your employees is to offer training and education that is directly related to their work. This will ensure they keep learning and utilising new skills learnt and increased loyalty and job satisfaction.
So, if you are looking for a way to keep Gen Ys from job hopping, enhance your career today and study the Diploma of HR online.