Kit Steinkellner
February 17, 2016 11:08 am

It’s not a huge secret that millennials are way more low key about playing career musical chairs than their baby boomer parents. That said, we were still pretty surprised to learn JUST how low key this generation is about the job shuffle.

According to the Deloitte Millennial Survey, one out of every four millennials will quit their current jobs within one year. A little under half of all millennials expect to leave their current employers in 1-2 years, and two-thirds of all millennials expect to have new jobs by 2020.

So yeah, that means only a tiny fraction of millennials see their current job as part of their ten-year plan (15% to be precise) and an even tinier fraction, 10%, would “never leave their jobs.”

This is a survey that includes millennials from around the world, so it gets VERY interesting when you break things down by countries. In Japan, only 51% of millennials plan on leaving their job by 2020, in Western Europe it’s 60%, in the United States it’s 64%, in the UK it’s 71%, countries like South Korea, Colombia, India, and South Africa hover around the 75% mark, and in Peru a whopping 82% of millennial employees fully plan on cleaning out their desks by 2020.

So why are millennials leaving their jobs in droves? No, don’t listen to grouchy baby boomers, it’s not because we’re all Portlandia characters who want to avoid responsibility and stick a bird on everything. It seems to come down to seeing the possibility of moving upwards at one’s place of work. 63% of millennials say their leadership skills are not being fully valued. So, if you don’t a clear path up at your current place of employment, it totally makes sense that you would have a job-related wandering eye.

And the difference between employers who value their millennial employees leadership skills and those who don’t are pretty staggering. When a company demonstrates “a lot of support for those who wish to take on leadership roles” and “younger employees are actively encouraged to aim for leadership roles,” 68% of millennial employees stay for over five years, while 52% leave within two years. Compare that with companies in which millennial employees feel like they’re being overlooked for leadership positions, only 42% stay over five years, and if they don’t feel like their leadership skills are being fully developed, 71% leave within two years.

Memo to all the bosses of millennials, if you want the kids to stick around, make sure there’s a ladder for us to climb and make sure you’re helping us to climb it.

Advertisement