A study conducted by Deloitte recently discovered that two-thirds of millennials plan on leaving their current employers by 2020, and one quarter plan to leave in the next year.
Why? One reason for job hopping is that they aren’t finding enough opportunities for leadership development.
The other reason is the disconnect between what the generation wants out of a career and what businesses are offering. Deloitte calls this the purpose gap. 87% of millennials feel that a successful business is more than just financially strong. A successful business’ outcomes would ideally include skill development, income, employee satisfaction, and making a difference among other things.
Pay and financial benefits are still the most important factors when taking a job, but when it comes to deciding between two similar companies, millennials heavily consider those other factors.
It’s going to take more than people development, according to David Cruickshank, Deloitte global chairman. Companies are best served when using their unique strengths to service the wider society.
Read more here.