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10 Reasons Millennials Quit Their Job
Who are the Millennials? They are known as the Net Generation or Generation Y. It is a term used to refer to individuals who reached adulthood in the 21st Century.
Why is the millennial generation quitting their jobs? Millenials aged 18-34 make up for the largest percentage of the working population that looks for other job opportunities. The educated and young people are constantly exploring new job opportunities. Statistics shows that approximately three-fourth of the US millennial workers are their jobs. According to Reuters, 44 percent of millennials would leave their current if given the chance in the two years. In the last five years, 60 percent of the millennials aged 22 and 32 changed or quit their jobs according to the State Street Global Advisors.
1. Personal values
To the millennials, it is not only about the money they earn. Personal values are a great determining factor. As a matter of fact, most of the “senior millennials” bearing high ranking job titles chose not to engage in work that conflicts with their personal values
2. Minimal wage growth
With the high cost of living and the pressure faced by the millennials, they would rather quit than get stuck in the rut. Most of the entry level jobs are demanding yet the pay is dismal. It is surprising to now that some students earned more money working part-time as bartenders and waitresses as compared to the salary at an entry level job.
3. Lack of advancement opportunities
Most of the people feel that there are not making any progress in their current jobs. They are stuck in the same position year in year out.
4. Excessive overtime hours
Working overtime especially with no extra pay can be discouraging. It leaves the person with little or no time to deal with their social and private/family time.
5. Lack of teamwork in the working environment
Some of the top management leaders do not create a favorable working environment for the young people. Some of them leave out the millennials in important aspects such as decision making.
6. Lack of flexibility
Some of the jobs are very demanding and unsatisfying.
7. Family situation
Females may quit their jobs for the sake of their families especially after childbirth. The men may quit if they feel they are not spending quality time with their families.
8. To pursue other interests
Most young people prefer to pursue their passions instead of sitting behind the computer from 9 am to 5 pm. With different passions that can be a regular source of income such as writing and photography, most millennials work and save up in the bid to fuel their passion. They believe in loving what they do and not only for the paycheck.
9. Living beyond the desk
Nobody wants to spend their entire youth and working life behind the desk. There is some sense of pride associated with working and staying loyal to an organization until retirement. However, for the millennials, it is not about job satisfaction and security. It is about living a fulfilling life beyond the corner office. Millenials want to do more. They want to explore and take part in challenges that will steer them forward. The desire to leave their comfort zone makes them explore new challenges.
10. Exploring life
No one wants to wait till end year to go for that vacation anymore. Millenials believe there is more to life than whining over poor appraisals. They want to do more without feeling restricted. They do not have to explain their movements or absence to anybody. With a 9 to 5 job, they would rather quit the unexciting jobs.