New college hires don't last more than a year: Survey

Millennials aren't slackers ... really   

Businesses don't have much faith that recent college hires will stick around for very long, a new survey finds.

Based on experiences, 77 percent of businesses expect a recent graduate hire to stay less than a year.

The survey was conducted by Express Employment Professionals—which polled 115 of its franchise outlets across the U.S. on how long employers observed their new hires staying on the job.

"The results show a couple of trends that we've seen for years," said Bob Funk, CEO of Express and a former chairman of the Federal Reserve Bank of Kansas City.

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"First, many in the millennial generation are taking jobs that they are overqualified for and thus are eager to move on when something better appears," Funk said. "And two, we've seen a decrease in employees' commitment to employers as a higher value is placed on personal advancement."

This is the second year for the survey.

The 77 percent is the total percentage of businesses saying they expect college grad hires to stay less than a year on the job.

Only 23 percent said they expected a recent graduate to stay in the job for more than a year, which is a 3-point decline from 2013.

Funk has some advice for employers who might be surprised by the results.

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"They're going to have to find ways to make their companies more attractive," he said.

"It's true that the 'grass isn't always greener,' but this generation seems plenty willing to go check out the grass on the other side."