Young people are expected to have changed job several more times than their parents. When comparing generations, millennials change jobs an average of four times in their first decade out of college, compared to the two job changes by generation Xer’s in their first ten years out of college.
Recent studies from economist at LinkedIn shows a jump in employment churn, specifically among millennials.
So why do Millennials Job Hop?
There are a variety of reasons as to why millennials move from job to job. Opportunity is one of the main factors, with younger generations arguably having more career choice. Advancements in technology and a wider range of industries to choose from means that younger people may move from one industry to another.
In previous decades Coventry was synonymous with the automotive and engineering industry. And while these industries still employe thousands of people in Coventry, the growth of other industries in the areas has provided younger generations with more opportunities and potential career paths.
Retirement age is also also thought to be a key factor. With the retirement age increasing almost every year, people will be working for longer before they are entitled to collect their pension. The thought of being in the same job for 50 years may be a scary one for someone just leaving college.
The average age people are starting families has gradually increased over recent years. First time fathers are now average 33.2 and first time mothers average 28.6. The lack of any dependants for many people in their 20’s may mean that they are more willing to try different jobs and not settle in the same job role.
A wide range of other factors such as job security, the economy, travel and temporary contracts may also be influential factors in the increase in the average number of jobs in a millennials life time.
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