Leapfrog is the name of the game.
And 86% of millennials are ready to play, according to one staffing firm’s recent survey. But millennials aren’t the only ones hopping from one opportunity to the next. Wall Street Journal reports that the average person will hold as many as seven jobs throughout his or her lifetime. That’s right – with the national unemployment rate at an all-time low, it’s no surprise that job hopping is on the rise in 2018.
With promises of an immediate pay increase, more responsibility, and better benefits, candidates know they can be more selective — especially if they already consider themselves underemployed.
So, employers – what’s on your lily pad?
Employers want to retain top talent for as long as possible — it’s only natural. Bringing a larger amount of work experience to the table, job hoppers tend to have a more well-rounded skill set, making them a painful loss.
Today’s retention strategies include trendy office perks, health and wellness initiatives that go well beyond medical benefits, and continued training and leadership development. While these efforts can help employees feel valued and appreciated, not every position demands new, cutting-edge knowledge on a daily basis, and it simply isn’t practical for every office to install a state-of-the-art gym. In some cases, over investing in an employees’ personal and professional development can even prematurely prepare them for their next job search.
As the employer, you need get your ducks in a row – or, frogs, rather. You need to find that happy medium — you know, the one that allows you to maintain productivity and growth while also keeping employees fulfilled and dedicated. This means coming up with creative ways to maximize the time each employee does spend with your team.
Our advice? Re-focus your attention on streamlining onboarding processes, instead of dishing out extra money trying to get employees to stick around. This will prove more sustainable when it comes to tackling turnover in this current employment climate. Companies with efficient hiring and training schedules will be better able to offer employees the resources they need to hit the ground running on day one.
