Millennials, also known as Generation Y and were born between 1981 and 1996, are often perceived to be detached at work and labelled as job hoppers. The 2020 Randstad Employer Brand Research revealed that 33% of millennials changed their jobs in 2019, and 38% considered switching employers in 2020. Needless to say, this number has decreased due to the pandemic as people switch towards prioritising job and income security to be able to maintain their livelihood.
Though many assume Millennials to be the “job-hopping” generation, several studies have shown that millennials are at worst no more fickle than preceding cohorts of workers. In fact, the current older generation job hopped as much as millennials when they were younger.
The common reasons for resignation are always a combination of both push and pull factors. It is critical for companies to understand the reasons to be able to attract and retain their star employees.