There are 75.4 million millennials in the U.S., making them the country's largest living generation. Naturally, with a group that large, any generalization you try to make will be...let's just say "flawed." Even so, these preconceived notions keep getting repeated -- and widely accepted.
In this clip from Motley Fool Answers, Alison Southwick and Robert Brokamp dig into the stereotypes and see if they're supported or refuted by cold, hard facts and scholarly research. Next on the list: The idea that millennials jump from employer to employer with reckless abandon, no loyalty, and no constancy. But is that really an accurate reflection of them? Let's find out.
A full transcript follows the video.
This podcast was recorded on July 26, 2016.
Alison Southwick: The next commonly held belief about millennials is that they job-hop like crazy and they don't stay at the same workplace for very long at all. Which...
Robert Brokamp: It is?
Alison: It's a myth. The myth of job-hopping for millennials is just a myth, and it shows that today's young people are actually less professionally itinerant than previous generations. This comes from 538.com. The idea, again, is that when you're young, you're just naturally in jobs that you're not going to stick around at for very long, and you are going to be job-hopping more. Some summers you're a lifeguard, and then maybe later on in the summer you're working at school. You're doing all these different jobs because you're young, and that's what you do when you're young.
Robert: You definitely hear more about it. Things like the gig economy where people aren't trying to have full-time jobs. They're trying to piece together a sort of freelance life. I suppose it's been going on before this. We just hear about it more.
Alison: The experts say, when they talk about this, that pursuing millennial-specific employee engagement strategies are just a waste of time, and an employer would be better served by just making their place better for everybody. So if you want to retain millennials (because everyone's writing articles about how you keep your millennials), just work hard to keep everybody.
Robert: That's so interesting. Where do these things come from?
Alison: Where do these myths come from?
Alison: Well with a lot of these, the moral of the story ends up being that everybody was like this when they were in their 20s.
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