The difference between what millennials believe companies should do and what they observe firsthand is not without consequence. Business’ actions appear to strongly influence the length of time millennials intend to stay with their employers.
Before we delve into the factors that influence loyalty, it’s important to note that loyalty levels have retreated to where they were two years ago. Among millennials, 43 percent envision leaving their jobs within two years; only 28 percent seek to stay beyond five years. The 15-point gap is up from seven points last year. Employed Gen Z respondents express even less loyalty, with 61 percent saying they would leave within two years if given the choice.
Younger workers need positive reasons to stay with their employers; they need to be offered the realistic prospect that by staying loyal they will, in the long run, be materially better off and as individuals, develop faster and more fully than if they left.