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marmar

(77,425 posts)
Fri Feb 12, 2016, 10:27 AM Feb 2016

Have Millennials Made Quitting More Common?

(Bloomberg) Quitting is in. More than 3 million Americans quit their job in December 2015, the highest number since 2006, according to data released this week by the Bureau of Labor Statistics. The quits rate, which measures how many people ended their employment out of everyone who worked each month, reached its highest level in seven years.

Economists are generally pleased when Americans feel comfortable telling their bosses it's not working out. It is a sign of a bustling economy when people don't stay in the same job for long periods of time, because it shows they're confident they can find work elsewhere. But it's possible that an even broader attitude shift is underway. The largest share of workers in the country—millennials—seem to be categorically opposed to spending their lives at one desk.

Last year, people aged-18-34 became the largest segment of the U.S. labor market, according to the Pew Research Center. The millennial workforce is expected to increase even more, Pew said, as college student graduate and new immigrants, who tend to be young, add to the 53.3 million-strong ranks of the group. Lots of them seem to be antsy. A majority of millennials to leave their jobs in the near future, according to a survey of 7,500 working, college-educated professionals born after 1982 in 29 countries released this year by Deloitte. Sixty-six percent hoped to have a different job five years from now or sooner, 44 percent said they would quit within two years, and 25 percent said they'd jump ship this year to start a new job or "do something different." U.S. millennial workers were slightly more loyal than the global population, but not by much. Only 29 percent said they planned to stay at their current organization more than five years. The BLS does not break down the quit rate by age, so it's hard to be sure whether young people are acting on their desire to move on. .......................(more)

http://www.bloomberg.com/news/articles/2016-02-12/have-millennials-made-quitting-more-common




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Have Millennials Made Quitting More Common? (Original Post) marmar Feb 2016 OP
Loyalty in the workplace doesn't exist anymore. Oneironaut Feb 2016 #1
You got it. I am afraid that the business world may be finding out that loyalty is a 2 way street. LiberalArkie Feb 2016 #2
Loyalty is a two way street. Get none from above and you won't get any from below. hobbit709 Feb 2016 #6
Friend of mine really believed in that old fashioned stuff Mariana Feb 2016 #13
It is a two way street and the business world turned against jwirr Feb 2016 #14
You are right, but there is one thing you left off GummyBearz Feb 2016 #15
It's not a "millennial thing" Galileo126 Feb 2016 #3
Probably more of a factor of crappy wages and crappy jobs. n/t FSogol Feb 2016 #4
Winner, winner, chicken dinner Cosmocat Feb 2016 #16
I hate articles like this Sanity Claws Feb 2016 #5
+1 it is perhaps aimed at business owners (like much of Bloomberg news) GreatGazoo Feb 2016 #7
I think so too Populist_Prole Feb 2016 #10
Yup. It shows a funny irrationality in American culture. Oneironaut Feb 2016 #9
Employers got used to treating people like crap Mariana Feb 2016 #19
I think part of this is because of the IT/tech industry TexasBushwhacker Feb 2016 #8
Respect me and I'll respect you... n/t fullautohotdog Feb 2016 #11
At least part of this is due to the ACA... Wounded Bear Feb 2016 #12
Hell, if "millennials" quit at one time it would be a general strike. Eleanors38 Feb 2016 #17
Bloomberg, et al labor philosophy: My way or the Highway. Eleanors38 Feb 2016 #18

Oneironaut

(5,667 posts)
1. Loyalty in the workplace doesn't exist anymore.
Fri Feb 12, 2016, 10:39 AM
Feb 2016

You can't treat your workers like disposable cogs and demand that they show your company loyalty. It doesn't work. There's a consciousness now that you can be replaced in a second, or have your job shipped off to another country. There is no job security. There's no point of showing "loyalty" to a company because you're not going to be there long anyways.

LiberalArkie

(15,879 posts)
2. You got it. I am afraid that the business world may be finding out that loyalty is a 2 way street.
Fri Feb 12, 2016, 10:44 AM
Feb 2016

For years business tried to keep the employees with health care and pensions. They may have to rethink a few things.

hobbit709

(41,694 posts)
6. Loyalty is a two way street. Get none from above and you won't get any from below.
Fri Feb 12, 2016, 11:18 AM
Feb 2016

All the people I know that quit their jobs recently quit because they found a better paying one.
Why work a shit job for $9/hr when you can get a different shit job for $12.

Mariana

(14,879 posts)
13. Friend of mine really believed in that old fashioned stuff
Fri Feb 12, 2016, 03:42 PM
Feb 2016

that you can get a job and keep it your whole adult life and then retire with a decent pension. He managed to do it, kind of, for 30 years - the plant got sold several times to different companies, but he managed to keep working at the same place. Last month he got laid off for good. He's supposed to get a pension when he's 65 - 13 years from now. We'll see if that actually happens.

jwirr

(39,215 posts)
14. It is a two way street and the business world turned against
Fri Feb 12, 2016, 03:47 PM
Feb 2016

workers in 1980 and they have not ended this practice to this day.

And that is exactly what lays at the core of our two way race in the primary this year. Workers vs corporate power.
Bernie vs Hillary. Small donors vs corporate donors.

 

GummyBearz

(2,931 posts)
15. You are right, but there is one thing you left off
Fri Feb 12, 2016, 03:55 PM
Feb 2016

Add in the shitty yearly increases that big corporations try to tie to inflation as a way to justify them. I stayed with my first professional employer for 10 years. But the last 5 years I kept getting the same shitty 2% raise (way down from the first 5 years). Then I got an offer from a competitor - 35% raise. Suddenly my employer, who just a month earlier said I was only worth the same old 2% yearly raise, came up with a counter offer of a 40% raise to keep me. I told them to shove it. Because they obviously were dicking me out of a shit ton of money for years.

edit: sorry went off on a bit of a rant - the bottom line is that you pretty much have to leave, or at least threaten to leave, in order to get a decent raise these days

Galileo126

(2,016 posts)
3. It's not a "millennial thing"
Fri Feb 12, 2016, 10:47 AM
Feb 2016

I'm 50 yrs old, and have rejected many a job offer from the pariahs of the 2008 crash. When corporations get their shit together, and realize that going "on the cheap for the benefit of the stockholders" shouldn't be the best game plan, then I'll apply for that job.

Otherwise, corporations can go to hell. Let them declare bankruptcy.

Cosmocat

(14,665 posts)
16. Winner, winner, chicken dinner
Fri Feb 12, 2016, 03:55 PM
Feb 2016

Its a reflection of the jobs that are out there.

There are a LOT of jobs for young people - working sales, marketing, hospitality ...

Past that, the "gig" economy ...

Sanity Claws

(21,926 posts)
5. I hate articles like this
Fri Feb 12, 2016, 10:56 AM
Feb 2016

It focuses on the reaction of rational people to an environment that does not value workers. It then implicitly judges them negatively because they adjusted to an environment that doesn't value them.

GreatGazoo

(3,937 posts)
7. +1 it is perhaps aimed at business owners (like much of Bloomberg news)
Fri Feb 12, 2016, 11:27 AM
Feb 2016

providing them with a nice excuse for why employees don't stay

Populist_Prole

(5,364 posts)
10. I think so too
Fri Feb 12, 2016, 02:06 PM
Feb 2016

It's an attempt to help bolster corporate bitching about "jobs Americans just won't do" in order to facilitate more lobbying to loosen the labor market via more supply through nefarious means; with the end result; you guessed it: Lower wages ( and higher profits )

Oneironaut

(5,667 posts)
9. Yup. It shows a funny irrationality in American culture.
Fri Feb 12, 2016, 11:47 AM
Feb 2016

There's an odd culture norm where, even if you have a crappy job and can get a much better one, leaving your current job makes you a "quitter" who is "abandoning your employer who did you a favor by hiring you." That is of course total bull crap - they hired you and only continue to keep you because they need you, and you owe it to yourself to get the best job possible. It's an odd culture norm.

Mariana

(14,879 posts)
19. Employers got used to treating people like crap
Fri Feb 12, 2016, 04:25 PM
Feb 2016

when jobs were scarce. When more jobs are available, it takes a while before they realize they can't do that so much anymore, that people will say, fuck you, I'm going to work down the road.

My own employer is doing that now, jerking around part-timers who were told when they were hired that they'd be working a particular four hour shift with weekends off. Now the company is telling them they have to work different hours and work on weekends, too. They are students or this is their second job or they have family responsibilities. They need a consistent schedule. Most of them are planning to quit as soon as they can line up another job - which they won't have trouble doing, since there are plenty of equivalent jobs available around here. And it'll suck for everyone when they go, because they are great people who do excellent work.

TexasBushwhacker

(20,493 posts)
8. I think part of this is because of the IT/tech industry
Fri Feb 12, 2016, 11:36 AM
Feb 2016

There are more millenials in that field and they tend to move around a lot. They change jobs for better pay and more opportunities and the IT/tech industry doesn't seem to look down on job hoppers.

Wounded Bear

(59,318 posts)
12. At least part of this is due to the ACA...
Fri Feb 12, 2016, 03:18 PM
Feb 2016

if you can insure your family, you can afford to tell you boss to shove it.

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