When it comes to jobs, Millennials are not looking to stay in one place, always looking for greener pastures. According to a new survey of 10,455 employed Millennials across 36 countries by Deloitte, Millennials are not loyal to one employer.
Forty-three percent of Millennials said they plan to quit their job within the next two years, while only 28% of Millennials would be willing to stay beyond five years.
As the study put it, “While young workers believe that business should consider stakeholders’ interests as well as profits, their experience is of employers prioritizing the bottom line above workers, society and the environment, leaving them with little sense of loyalty.”
What would make Millennials stay? Flexibility and diversity
More than a paycheck, Millennials wants to know that their company’s values are aligned with their own, Deloitte found. They don’t trust that their employers have their backs. This generation has more faith in themselves than their employer when it comes to integrity. Now, only 48% of Millennials believe that corporations behave ethically, compared to the 65% who thought the same last year.
Loyalty must be earned for a Millennial. To keep Millennials in your workplace, you need to make flexibility, inclusion, and diversity a key part of your workplace. Deloitte found that those were the most important factors to young workers. Pay may attract a younger worker to your office, but showing that you want to make a positive impact will keep them.
“Senior management teams that are most aligned with Millennials in terms of purpose, culture and professional development are likely to attract and retain the best Millennial talent and, in turn, potentially achieve better financial performance,” the survey found.