Tips On Retaining Job-Hopping Millennials
Older Millennials (a cohort born in the early 1980s) are entering the middle of their professional career having already switched jobs an average of 7.8 times. One research group, Korn Ferry, dubs these workers as “career nomads” in a recent study highlighting the characteristics of older, job-hopping Millennials, reports Human Resource Executive.
Career nomads tend to be very intellectually curious and ambiguous, according to the research. The vast majority of great majority of nomads (88 percent) think changing jobs often helps one’s career.
Not everyone agrees with the nomad mindset. Employers, for example, usually spend 50 to 75 percent of a top-tier career nomad’s salary just to replace them. While they may not often fit Korn Ferry’s characteristic profile of a “career nomad,” employees within the janitorial industry tend to share the same desire to leave jobs quickly. This has resulted in higher than average turnover for the industry, which also causes inconsistencies in job performance.
While they might not be looking to keep career nomads on staff, janitorial companies should consider Korn Ferry’s advice for keeping these staff members, so that they can apply it to their own job-hopping staffs.
Here are the five things Korn Ferry suggests companies should do to keep career nomads:
1. Offer career-development opportunities
2. Provide a good work/life balance
3. Improve leadership
4. Pay attention to the employee’s wellbeing
5. Change rewards and benefits offered to suit the needs of employees
For more advice on how to carryout several of these actions, read this earlier feature from Contracting Profits on how to solve retention issues.
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