Millennials most likely to quit jobs despite regular manager talks
The evolving workplace landscape is creating a widening gap between employee expectations and employer support, particularly among younger workers, according to new research from Cornerstone. The report, produced in partnership with Lighthouse Research, highlights concerning trends in workforce readiness and employee satisfaction across generations in the UK.
A significant finding from the report indicates that Millennials are the most likely to quit their jobs in the next 3-6 months, with 59% expressing this intention. This compares to 50% of Gen Z and 43% of Gen X. Additionally, 69% of Millennials feel their employer does not support their growth and development, a stark contrast to the 47% of Gen Z who feel the same way.
Overall, 45% of UK employees believe they lack the right support and resources to adapt to changing work conditions. Employee confidence in the training they receive also varies significantly by age group, with Millennials being 20% less likely than their Gen Z counterparts to feel they receive the right types of training to perform their jobs well. This discrepancy has contributed to a sense of disconnection among Millennials. The report notes that 60% of Millennials feel they are the last to know when their company changes priorities, which is twice as many as Gen Z.
Despite feeling overlooked, Millennials report the most communication with their managers, with 42% having spoken to their manager in the past three months. This communication disparity is more pronounced among Baby Boomers, who are three times more likely than Millennials and Gen Z to say their manager has not discussed their work skills in the past year. This raises questions about whether employers are failing to leverage the potential of older workers and whether Boomers are interested in such engagement.
The research reveals that while 93% of Gen Zs and 80% of Millennials think about the future when they do their jobs, only 44% of Boomers share this perspective. However, this does not necessarily indicate discontentment among Boomers, who are the least likely to consider quitting and the most content in their roles. Conversely, Millennials are the most likely to quit in the near term, followed by Gen Z and Gen X.
The apparent restlessness among younger generations could stem from their higher expectations of employers and the developmental opportunities they should offer. Being at earlier stages in their careers, both Gen Zs and Millennials may possess different ambitions, possibly being more inclined towards career advancement compared to Boomers, who may have already reached their career goals.
To address the issue of workforce readiness, the report suggests that employers need to secure employee engagement in their own professional development. Embracing new technologies such as AI, AR, and VR for learning could be a significant part of this strategy. The report found a substantial interest in AI and VR among employees, with 60% of Baby Boomers, 67% of Millennials, and a considerable proportion of Gen X workers expressing enthusiasm for these technologies.
Encouraging continuous learning and development is seen as crucial to closing the workforce readiness gap. The research indicates that UK employees who receive the right types of training are three times more likely to adapt to changing workplace conditions, twice as likely to rate themselves as highly adaptable to change, and three times more likely to express job satisfaction with no plans to quit.
