According to a recent study by Manpower subsidiary Right Management, employers can expect a struggle trying to retain young talent for the long haul, as 61 percent of survey participants say they will stay at their first job for less than three years.
Is this really a new trend? I don’t think so. I would argue that it’s exactly what we should expect for a generation of workers who have seen their parents change jobs several times for various reasons including being laid off, bad work environment, better advancement opportunity, or new vocation/career direction.
For nearly two generations . . . since the 1980’s, employee loyalty has been eroded by a corporate mentality that human resources are expendable assets. It’s not personal. It’s business. The manufacturing boom eroded and gave way to the technology boom leaving legions of workers displaced with skills that were no longer relevant and in demand. The worker mentality morphed to be less focused on being rewarded for company loyalty and more focused on dusting themselves off and looking out for themselves.
My father worked for the same company for 30 years and retired with a pension, as did many of his contemporaries. Today, from the hundreds of business associates and coworkers I know, I can count on one hand those who hstill work for the same employer they did 10 years ago. Loyalty doesn't matter. Employees became numbers on a ledger. If you wanted to advance in the new working economy, you very likely sought out a new opportunity and moved on. This was called ‘initiative’ and it was looked upon favorably as a positive character trait in a job candidate. Promoting from within waned as organizations felt they needed 'new blood' to bring in fresh ideas, leadership and energy.
Now, due to the extreme leanness of organizations, the high cost of employee benefits, and the tightness of profit margins in a global marketplace, each staff member is critically needed at most every level in most every company. Skills, tools, processes and knowledge are increasingly more specialized. This means finding qualified candidates is more difficult and recruitment and training takes longer and costs more money. The pendulum now seems to be stuck in a stalemate of an arm wrestling match between employers and employees. Employers want loyalty but cling ever so tightly to their ‘employment at will’ clause essentially saying regardless of your performance we can terminate your employment for any reason. Employees are saying “What have you done for me lately?” and keep their online resume profiles up to date.
Employers who have published employee policy manuals and corporate handbooks, along with an established performance management and employee development program are able to attract and retain employees for longer periods of time because they are making a statement of a desired long-term relationship. It all comes down to corporate culture. A new employee can tell in the first month or two if the company where they work values and rewards their employees. They can see the turnover rate and determine for themselves the reasons their coworkers are leaving and then consider their own situation and future. Provide a secure work environment where employees see that they can grow, develop and be appreciated and they are much more likely to stay even if the competition offers more money and perks.