As an HR professional, you know it is illegal to discriminate against a person due to his or her age or other protected statuses, like race, gender, religion, etc., but as the workforce continues to comprise multiple generations, it may feel like there’s a battle brewing between the young and old.
OK, a battle may be a strong word, but we’re all familiar with the night-and-day differences between the Millennial generation and the Baby Boomer generation. However, when it comes to work, we’ve already determined that these generations aren’t all that different.
New survey findings from Olivet Nazarene University (ONU) reveal that each generation’s perceptions may be “far from reality.” ONU’s survey finds that when it comes to company loyalty, 91% of Millennials say Boomers are loyal to their employers, and only 60% of Boomers say the same about Millennials. The reality is quite different.
In fact, ONU finds that both generations are willing to head for greener pastures. According to 2,030 respondents, 84% of Millennials and 75% of Boomers say they would leave their current company for more money. And they plan to leave sooner than you might think. One-third of Millennials and 39% of Boomers say they plan to leave their current job within the next 6 months.
What’s Causing the Exodus?
According to Millennials and Boomers, these generations plan to leave their employers within the next 6 months for the following reasons:
- To make more money
- To advance their career
- To escape a toxic work environment
- To find passion-driven work
It should come as no surprise that more Millennials plan to leave to better their long-term career paths, as Boomers are starting to retire and some who are still in the workforce are just there to help supplement their retirement incomes.
However, 53% of Millennials say they are happy with their current pay, and 71% of Boomers agree. While these workers may be satisfied with their salaries, they aren’t being promoted for their hard work. According to 61% of Millennials, these workers have not received a pay raise in the last year, while 51% of Boomers say they have received a raise in the last year.
One thing both generations can agree on: They’re a little shy to ask for a raise! Fifty-eight percent of Millennials and 59% of Boomers say they were hesitant to ask for a raise. What’s unclear in this survey is whether those who asked actually received a raise, but given the findings mentioned above, maybe Boomers have been more successful. Continue reading here…
Source: HR Daily Advisor