Posts Tagged ‘Finance’

Stories are often told of the “older generation” that walked into a job after college and were still with the same company 30 years later. These tales are often told with a shaking of the head and a comment or two about how those days are behind us. Between the economy and a millennial generation who is used to having instant gratification, the days of an employee being able to count on a long term position, and conversely, a company being able to count on loyal employees, are over. Or so we thought.

When you actually take a look at some of the current data out there about job searchers, you would find the opposite is actually true. Current studies by the Washington Post show that in the past decade, young employees are actually staying at their jobs longer than any other time since 1983. See graph below:

recruiting and human resources

So what is really going on? This takes us back to the simple answer of: the economy. This generation came of age in a time when jobs were not readily available and the competition was fierce. Many were competing with seasoned employees who had years of work experience that they didn’t have. When they did find a job, they held on tightly because there wasn’t another one readily available around the corner.

However, the good news for both employees and employers alike, is that as the economy is expected to improve, the job market is as well. Companies will be in a better position to offer higher salaries and more benefits to potential employees. Hiring managers will begin to see more competitive employees enter the job market as they see conditions improve, while workers can expect more variety and better wages in their future.