It appears that Millennials are starting to earn their reputation as job hoppers. According to the recent Human Resource Executive Online article “A Mass Exodus of Millennials?” individuals in that generation are leaving jobs more often and in greater numbers than their older counterparts.
Citing a survey by Millennial Branding and Beyond.com, the article states that 45% of companies are reporting higher turnover of workers ages 18 to 30. In fact, 30% of the respondents stated that their organizations have lost more than 15% of their younger workforce.
So what’s behind this “Mass Exodus?” While there are multiple reasons and theories, it appears the main reason is flexibility. While all generations desire more flexible work hours and locations, the article states that “Millennials think that they need to have it.”
This may make recruiters gun-shy to place Millennials. After all, your reputation could be on the line if you place candidates who don’t stick around. The article states that 87% of respondents to the survey said that losing and replacing a Millennial cost them between $15,000 and $25,000. The last thing a recruiter wants to do is place someone that results in a waste of money for their clients.
But there is a way to cater to Millennials’ need for variety and flexibility AND keep your clients happy. You can offer Millennials as contract candidates to help clients with specific limited-time projects or temporary surges in business. This meets the candidates’ needs for meaningful, flexible work while helping clients get help quickly with no permanent overhead or replacement costs.
A lot has been written about the drawbacks of having Millennials in the workplace. But by finding opportunities that work with their unique strengths and motivations, you may find these younger workers could end up being some of your best contract candidates.
