It doesn't seem like so long ago, that the phrase 'job for life' was part and parcel of the recruitment world. It was perfectly conceivable to begin your career at a company, and spend the next forty years slowly working your way up the career ladder, enjoying the certainty that having invested in the company you would be rewarded with an assured role until you wanted to retire.
For various reasons the landscape has shifted dramatically, and a new generation are experiencing a jobs market that no longer guarantees a job at all, let alone a job for life. But given the choice, would millennials want a job for life?
Millennials are a hot topic at the moment, and there have been over 20 million Google searches to prove it. They've been tarred with many stereotypes including being job hoppers, disloyal, money-led and ambitious; but what's the truth behind the hype?
A recent report by LinkedIn suggested that a millennial will change roles on average every 2.5 years. This seems like a very short time to spend at each company; but they're also reported to work longer hours and be more target driven than their baby boomer counterparts. Millennials are likely to have a clear idea of where they want to go professionally, and will take the necessary steps to get there. If this is their motivator then, why do they have to change jobs in order to achieve their goals?
The reported figures seem to suggest that if they're not given a clear career progression plan, millennials will look to move on from their role after a relatively short amount of time. It's not that they don't want to progress their career at one company, it's that they're not often given the opportunity to make the jump that they're looking for.
With the digital and analytical skills that millennials are bringing to the workplace, it's important that once you've invested your time and money in recruiting your staff, you keep them engaged. Including a career progression plan for your millennial staff can really encourage them to continue working with you, and stop them from looking elsewhere for their potential promotions.