When it comes to the workforce, Gen X and Millennial employees have proven to be a fickle bunch.
According to a 2013 survey conducted by freelance job board oDesk, Millennials tend to stay with their employer for an average of just two years. Gen Xers tend to stick around for about 5. Baby Boomers, by contrast, have shown more dedication over the years; they tend to stay with a company for an average of at least 7 years.
Regardless of their motives, members of Generation X and their Millennial counterparts represent the future of business in America. That makes persuading them to stay beyond their typical corporate life span a talent all its own. As an employer, understanding the mindset and aspirations of these two generations will allow you to hold the upper hand when it comes to competing for and retaining the best of them.
Studies show that these two age groups have more in common than any previous contiguous generations in modern history. Thanks to the rapid development of technology and an aptitude for it that pervades both groups, the cultural gap that distinguished previous generations has all but disappeared. This may change in the future, but for now this common bond has resulted in the need to stand out and be exceptional. Thus, these generations are distinguished by their risk-taking and desire to be needed. It should come as no surprise then, that talented Millennials and Gen Xers do not typically leave employment to take positions at competing companies; rather, they leave to branch out on their own.