Millennials rule. At least according to Fortune Magazine editor Alan Murray. They rule because, as of this year, Gen Y workers will surpass the number of Gen Xers in the workforce for the first time. In Fortune Magazine’s latest issue of the 100 Best Companies to Work For, many organizations on the list (i.e. Google) have created policies and strategies that revolve around attracting and hiring Millennial workers. In order to best develop a strategy like this, companies must look at the current stereotypes and understand who they are hiring when they bring on someone from the Millennial generation.
For years, Pew Research Center has been leading the charge in figuring out what makes Millennials tick, why they are the way they are. Sourcing information from Pew, Fortune’s Alan Murray, and other opinions and studies on the subject, this series of articles will look at current stereotypes and myths to help those that hire better attract the individuals that will make up the future of their workforce. When it comes to understanding Gen Y, let no stone remain unturned!
Millennials WANT to change jobs frequently.
This is an assumption the world has made – that Gen Y workers don’t stay. They are flighty and noncommittal. Apparently, this is not even close. “Millennials actually value job security more highly than Boomers. But they won’t stay at a job they don’t like. Some 50% of Millennials say having a ‘job you enjoy’ is ‘extremely important’ to them, compared with just 38% of Boomers.”
Forbes reports that trends are still changing. The average time an employee stays at their job is roughly 4.4 years and it’s dropping. The expected tenure per job for today’s youth is around half that amount of time, meaning that while the number of jobs held in a lifetime used to average around 11, Millennials may hold 15-20 or more jobs throughout their career.
For hiring managers and recruiters, this means a new way of reviewing a résumé and determining fit. The importance of finding the right person for the right role has never been more important as Millennial workers value happiness over tenure and will not stay in a job that doesn’t give them satisfaction. While job hopping should still be considered a red flag, a little more research is required. Ask the right questions: Why were previous jobs not a fit? What are the individual’s motivating needs? It’s not all about a lack of commitment anymore.
Millennials are reshaping the way we hire and the way we manage employees. As the largest group of working individuals (with Gen Z soon to come), it’s time to rethink and reevaluate various hiring strategies and HR procedures.
Traci Kingery, PHR is an HR Professional and freelance writer based in the Midwest, specializing in immigration and talent management. When she’s not improving unemployment, she keeps busy with her husband and four children.