Millennials Aren't Afraid to Change Jobs, And Here's Why

Forbes Contributor
November 10, 2017

For a 20-something in the workforce, job-hopping is a norm — one LinkedIn survey indicates millennials do more job-hopping than any other generation, though it’s important to note the study only surveyed members of LinkedIn.

That number typically falls within five years, but professional services, government, non-profit, education, media and entertainment industries had the most job hoppers within five years of college graduation.

What’s interesting is that the Bureau of Labor Statistics states Baby Boomers did just as much job-hopping in their respective 20s as millennials do these days — that’s a bit of a contradiction, isn’t it?

Older generations should probably check their comments about millennials job-hoppers and look deeper into the situation. Millennials shouldn’t apologize for their tendency to job hop, and here’s why.

Job-Hopping Millennials Offer Benefits to Employers While Being “Selfish”

Job-hopping is in, and being stuck in a dead-end job is on its way out — and that’s good for everyone.

Job-hopping millennials are more likely to earn a higher wage, develop their career on a faster track and find a better fit in work culture by changing jobs more frequently. The stigma is lessening as the positives are revealed.

One CareerBuilder survey shared employers expect 45% of their newly hired college grads would remain with the company for under two years, and the study showed that by age 35, about 25% of young employees would have worked five jobs.

Employers are aware they’re hiring job-hoppers as millennials find their footing in their career development, learning to make healthy choices rather than staying stuck and unmotivated in a job that’s not beneficial for either the employee or employer.

Are Millennials Job-Hopping for The Money?

Many assume millennials are just chasing money when they job-hop, rather than waiting patiently for their slice of the pie as their seniors did. However, that’s not true of all job-hoppers.

Many employees who seek other jobs early on are willing to take pay cuts for the right job, especially if there is a mismatch or lack of positive work culture. Other factors for switching jobs quickly include having too much work to do, resulting in an uneven work-life balance. Environmental and social consciousness drives millennials, caring about their fellow man.

When a company’s mission matches their values, millennials are in — more likely for a longer haul than their last gig.

So, how much will a typical job change get a hopper?

Per figures by Legal Technology Solutions (LTS), at least an 8 to 10% pay increase is average in a healthy market, and on the higher end of the pay range, 20% isn’t far-fetched.

Aren’t millennials being selfish? Isn't putting up with a few negatives worth the arduous work you’ll be eventually recognized for? That’s the right of passage, isn’t it? Here’s the kicker — sticking with the same employer for more than two years costs the employee 50% or higher in their lifetime wages.

Most are choosing new companies because they’re more likely to find a better fit for their career growth. When the opportunity arises, you have to take it. Unfortunately, smaller employers face challenges with retaining younger employees because of their size.

They’re less likely to be able to advance their employees up the career ladder as quickly as other, larger businesses. Smaller companies have a higher chance of millennial employee retention if their work culture and other perks are positive matches.

It all comes down to the fact that job-hopping allows millennials to have their say in the direction their career is going.

They’re the authors of their career narratives, and changing jobs will enable them to avoid preconceived assumptions about what their career advancement should look like in the eyes of colleagues and employers.

Relocation Appeals to The Millennial Workforce

Millennials are getting married and having children at later dates than previous generations, and this makes relocation a highly desirable and doable option. In a Cornerstone study, 77% of respondents revealed that they’d considered relocation to another town, state or overseas as an exciting, positive career move. When you’re years deep in a role for a specific employer, the opportunity to relocate to another city with that employer isn’t as familiar.

New graduates also have more flexibility at the start of the careers. So, employers hiring millennials are more likely to make relocations packages available for a move to a new city, and millennials are eager to explore new places in an affordable transition.

The Stigma for Job-Hopping Is Lifting

Previously, applicants were always advised hiring managers looked negatively at resumes who showed a stay at a job for less than two years. Multiple jobs within that short span of time would be a red flag and land an application in the trash.

Today, the negative connotation with job-hopping is lifting, and millennials agree — 57% stated the stigma is losing ground when it comes to influencing an applicant’s candidacy, per a Robert Half survey. Of course, switching jobs every three to six months is more of a red flag. By the time you’re two years into a position, an employee should know if it’s a fit or not, and isn’t it better for all to move on when it’s not?

Millennials are now the largest group of professionals in the workforce, and as their careers advance, millennial hiring managers will significantly impact once negative perceptions of job-hopping and balance and prioritize securing candidates who find a financial and cultural fit with the employer.

Just as you grow out of relationships and other phases of life, sometimes you grow out of a role or a work culture. Instead of endorsing stagnancy, the repeal of the job-hopping stigma invests in employees that bring their A-game while remaining engaged, even if they move on in two to five years.

 

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