Most HR pros know retaining employees in their 20s is a difficult task. But new research shows just how tough it is.
Roughly 70% of recent college graduates quit their first job within two years, according to a survey by Experience, Inc.
Why? Beyond the profitability of job hopping, one reason may be that many of them didn’t want those jobs in the first place — 43% said they’re not in the career they expected or wanted to be in, either because they didn’t get a job they wanted, or they jumped on the first opportunity that presented itself.
Furthermore, 60% are currently looking for a new job or career.
All is not lost, though — despite the lack of loyalty, 57% reported they were happy in their current positions.
What can companies do to increase Generation Y’s loyalty? Here’s some advice from Experience:
- Set expectations — Giving an accurate picture of the job while you’re recruiting will help filter out people who will be unhappy.
- Offer lifestyle benefits — Flexibility is key for keeping young workers satisfied.
- Get social — Younger employees tend to stick around more often when they have good relationships with their peers. Holding events that bring them together whenever possible is one way to boost retention.