Faithfully Unfaithful: Gen Y and the Job Market

When I first put pen to paper, I anticipated receiving push back on this blog’s topic.

But it has to be brought to the light.

The title reads like an indictment. While ostensibly critical, it is a recitation of facts and data that show members of Generation Y (millennials) switch jobs more frequently than previous generations.

Do a quick google search. Type in: Generation Y, job….

One of the top prompts from Google is: Generation Y, job hopping.

A Gallup poll from 2019 revealed that 21 percent of millennials changed jobs within the past year. This is nearly three times the number of non-millennials who report the same.

More inauspicious is that of a poll of millennials and non-millennials, 50 percent of millennials strongly agree that they plan to be working at their company one year from the date the poll was taken. Non-millennials were at 60%.

This hints at 50 percent of millennials not seeing a future with their current firm. (Adkins, n.d.)

There are myriad motivations behind the lack of fidelity to a company. Some of the blame is rightfully ascribed to companies and their corporate culture. Another can be the faulty “the grass is always greener” conviction held amongst millennials.

No matter the motivations, small firms especially need to recognize this reality and prepare for it.

In AEC it goes without saying that building a core team of engineers, architects and other professionals is time and money well invested.

Can the same said be for accounting & bookkeeping?

You got into the business to build, design, create and more. It is unlikely you saw the accounting functions as anything other than a necessity to promote your core passions.

Delegating financials is one of those “must consider” type items. It may not be the right fit.

However, when you consider the specter of turnover in your accounting department, a 30-minute visit with us to explore outsourcing is the only reason you need to engage and know it will be time well spent.

Wally