In research, one could say that today’s large companies (1,500 employees plus) rely on younger employees – those under 40. But, there’s a double-edged sword with this – don’t expect them to stay very long.
One could say that the majority of organizations found in the 100 Best Workplaces within the 2024 Great Place to Work list show that a large percentage (up to ¾) of employees have been there between 3-5 years.
CareerBuilder.com mentions that even those above 50 stays at jobs as long as they used to (under 10 years), millennials are less likely to stay beyond a few years. Even the Bureau of Labor Statistics agrees. In their very recent (September 2024) report, they state that those under 35 generally only last about 3.9 years before moving to another job.
What keeps millennials from shifting jobs every couple of years? This could be due to many organizations no longer representing themselves as a “large corporate entity” where employees don’t count. As an example, the “100 Best Workplaces” are reinventing themselves by giving employees a sense of culture, being part of a team, and benefits, and most importantly – being people-centric.
While compensation, benefits, and rewards are a good way to draw future employees – organizational culture and people matter. How an organization is socially responsible and sticks to its mission, vision, and values can be what keeps employees from moving on.
As an existing manager of a small non-profit organization, what I struggle with is enticing the right person for the right job. Without HRM professionals or a budget to recruit, it’s all about steering potential employees to see the value of the culture in our organization.
So, be prepared future hiring managers, no longer are people seeking just a J O B – a thing you do during a work week – they are looking for a calling within a career. So take note while money talks – ultimately – it’s culture and people that get folks to stay!
