508 - Is Gen Z Loyal?
Episode Title: Is Gen Z Loyal?
Deloitte found that many younger workers are planning to quit, but another study found that many want to stay in their roles long term. Which one’s right? Next on The Perna Syndicate.
Ep 508 show:
You’re now in The Perna Syndicate—hello and welcome! Are Gen Z workers stepping into the job-hopper shoes of the Millennials? Deloitte recently found that 40% of Gen Z would like to leave their jobs within two years, and 35% say they would do so even before they had another job lined up.
Notably, Deloitte’s survey last year found that nearly one in four Millennials planned to leave their jobs within the year. This finding basically predicted the Great Resignation that we’re living through today.
At the same time, a recent survey by iCIMS provides an interesting counterpoint to the Deloitte findings. According to this data, 91% of recent graduates and undergraduates said they care how long they stay with an employer. Almost 70% said they actually see themselves staying long term.
The authors speculate that although Gen Z workers are very particular about the companies they work for, they truly do want stability after what has been a very uncertain couple of years. They’re eager to find the right long-term fit where they can grow with the company.
The challenge for companies is to become the employer of choice that younger workers can keep choosing for years to come.
Tomorrow: financial pressure is turning the younger generations into what I call “idealistic pragmatists.” On the next episode of The Perna Syndicate, we’ll talk about what that means and why companies need to adapt. Until then, take care!