Effectively managing the job-hopping generation
Our parents and grandparents used to build their careers within one company, starting at the bottom and working their way up the corporate ladder. Nowadays, this career path is almost completely obsolete. According to recent research, almost three quarters of UK workers think that regular job changing is more acceptable, with the most common reason being that if a better opportunity arises, it should be taken. The survey also found that almost half of UK workers think that it’s acceptable to leave a job after less than a year.
Therefore, it is not surprising to see the younger generations go from employer to employer every two years, or even every year. This behaviour is more commonly known as job-hopping, with the millennial generation being particularly accustomed to this behaviour. In fact, according to a recent study conducted by Deloitte, 43 percent of millennials plan to leave their jobs within the next two years.
These frequent role changes can be a nightmare for companies, given that turnover can be extremely expensive. It is therefore essential to recruit the best talent and be able to retain them. For this, managers and HR must listen to the expectations of an increasingly demanding population. We know from the Deloitte study that financial rewards, workplace culture and flexibility are priorities for UK millennials in the job market, so why not offer these benefits from the start? Job descriptions with incentives will appeal to the millennial market and will provide a strong comparison point between other employers. Some benefits to offer include:
- Working from home
- Office days out
- Finish early Fridays
- Flexible working
HR management tools can help to identify interesting opportunities for both the company and the employees. Cornerstone has solutions that build on historical and predictive business data and can suggest the most appropriate internal profiles for a given position based on their potential and experience. Meanwhile, employers have the opportunity to view the career prospects in their industry. Potential employees will be more inclined to make a career where they know that the field of possibilities is open to them.
During the war for talent, the main challenge for HR, is not only to recruit the best possible talent, but to deploy the most appropriate means to retain them, allowing employees to project themselves in the long term. Job-hopping is an inevitable workplace trend, and whilst it may seem a challenge for HR departments to tackle, it provides us with thought on how we can adapt HR strategies differently.