Oh, Millennials!
Companies around the world are scrambling to understand their behavior patterns while there is much hand-wringing in HR departments on how restless they are when it comes to staying put.
Turns out preventing these individuals -- roughly defined as those born between 1980 and 2000 -- from jumping ship isn't rocket science.
Jaya Dass, country manager for staffing services provider Randstad Singapore, who recommends managers create tailored engagement strategies to retain their Millennial employees, shared some of her tips.
"Typically, these workers are less motivated by money, instead coveting rapid advancement opportunities and a challenging work environment, and they want to work for a company that improves society," she said.
As such, employers should place emphasis on a couple of things, Dass said.
First, provide millennials with an opportunity to work on a diverse range of projects.
"It is important that employers engage their millennial talent with the opportunity to work on a diverse range of projects that enhance their skills, while giving them a sense of purpose," Dass said.
Second, set out a clear career development path.
"Career growth and professional development are key engagement drivers for millennials, with [the majority] focused on getting a promotion," she said.
Companies in Singapore are particularly challenged by their job-hopping millennial workers given the city state's tight labor market.
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In a survey published by Randstad on Wednesday, 79 percent of millennials in Singapore were seeking opportunities to switch careers. Part of this stems from having confidence in their job prospects, with 82 percent assuming they would find another job within six months.
There are currently about 1.2 million millennials in Singapore, representing 22 per cent of the country's population.
Singapore's millennials are more inclined to try out a variety of roles in different industries compared to their older counterparts, according to Randstad.
Almost one-third of survey respondents citing "a personal desire for change" as the main reason for recently switching jobs.