USI Payroll Find Us On Facebook  Find Us On Facebook
Payroll & HR Packages »
Request for Proposal »
Contact Us »
You did not go into business to be a human resource professional. Fortunately for you, we did!

Why Your 20-Something’s are Leaving

November 8, 2013 at 9:07 pm

Many employees who are in the age group of what we call Millennials (born in the early 1980’s – the early 2000’s) are cutting ties with what they thought were their dream jobs.  In fact, many are checking out in three years or less. Whether this is due to loss of interest or unhappiness in their jobs, turnover not only costs companies more money – a good estimate to how much money it costs to replace an employee is to times their salary by 3.  So if your employee’s salary is $40,000 annually, it will cost you about $120,000 to replace that employee when you consider all of the recruiting, training, onboarding, etc. costs, it adds up!!!  It also doesn’t look good on the part of your organization if you have high turnover.

Why are more than half of Millennials saying goodbye to their jobs?  Here are some reasons that experts are suggesting…

You don’t keep your promises:  Maybe you posted a poor job description.  Perhaps you led the candidate on in the interview.  Maybe the employee was paired with a team they couldn’t collaborate with.  Perhaps you promised more flex time or the chance to attend big industry conferences — and didn’t deliver.  The fact is, you may not have kept all of your promises when hiring your Millennial employee.  When this happens, they’re going to find an organization that will treat them right from the get-go instead of waiting around for those promises to be met.

They’re finding flexible options elsewhere:  Flexibility is more important to many Millennials than their pay rate.   Even if you’re throwing money at your workers, many would much rather have a work-life balance than be working away at the office until all hours of the night.  If your company doesn’t have telecommuting or remote working options, Millennials may find these flexible options elsewhere.

You don’t give them room to grow: If you were in a job for three years doing the same tasks over and over, you’d call it quits, right?  Opportunity for advancement and room for growth is how some Millennials find their motivation.  If you aren’t giving them these chances by varying their workloads or giving them new projects, you may be shooting yourself in the foot.

They’re not ready to commit:  In the end, an employee may just not be that into you.  Maybe he’s not ready to commit to his first full-time job.  Although you may see this as an attack on your organization, not every employee finds gold on their first try.  On the contrary, many will be job hopping or floating through different options for a few years until they find that perfect fit.

Categories: Human Resource Consulting.

Visit USIPayroll.com