Young People Quit Their Jobs in Droves. Where Are They Going?
What has become known as The Great Resignation is being fueled by young adults. A recent survey by the Pew Research Center found that young adults under 30 (37%) are far more likely than older adults 30 to 49 (17%), 50 to 64 (9%) and 65 and older (5%), to have voluntarily left their job last year. Another survey by Microsoft found that 52% of Gen Z and millennial workers said they were likely to consider leaving their jobs this year. That is up 3% from last year.
Research suggests that many of these young adults are not quitting to be idle. Tim Rowley can vouch for that. Rowley, the chief technology officer, and COO of PeopleCaddie, a digital talent marketplace that matches employers with professional contractors, said they are seeing a wave of young professionals entering the gig economy.
These young adults have sought a different type of career where they have a lot more flexibility and control, Rowley said. He said the pandemic forced many of them to work remotely or in a hybrid scenario over the last couple of years and they got a taste of what that flexibility was like, and they have come to enjoy it and do not want to give it up.
A Pew survey found that workers will walk away from their jobs because of low pay (63%), no opportunities for advancement (63%) and feeling disrespected at work (57%). Others left due to childcare issues (49%), lack of flexibility (45%) and not having good benefits such as health insurance and paid time off (43%).
Think what you want but this is the new norm. We may think that we will not condone or adjust to this new generation of thinking, yet the fact remains that if we don’t adjust, we will lose in finding the right team to work with us and we will not progress in our businesses.
In my next blog we will dive deeper into where they are going.
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