In his article, Peart (2019) explores the complex concept of workplace loyalty by comparing the Millennial generation to the generations that came before it. The author points out that contrary to popular belief, Millennials are not more prone to the so-called “job-hopping,” or the tendency to frequently change workplaces. The older and newer generations spend roughly the same amount of time in their job roles – 4.2 years. Yet, as noted by Peart (2019), many people are convinced that loyalty is fading and losing its importance in the workplace.
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The article suggests that to understand the evolving trends in job loyalty, one needs to take a look at the economic, political, and social environment of the recent decade. Firstly, the hiring process is becoming increasingly more tedious: recent graduates are competing with each other and have to withstand long interviews and internships before official employment. On top of that, Peart (2019) describes the “hangover” after the 2008 global financial crisis as a factor that has contributed to the breach in workplace loyalty. Many Millennials remember living in fear of losing means of survival. Because of that, they have to think twice about committing to one company and keep one eye open for other favorable opportunities offering more security and benefits.
Peart (2019) opines that contrary to popular public perceptions, Millennials are not lazy: they are focused, driven, and motivated. According to the article, the secret ingredient of workplace loyalty for Millennials is meaning. Younger people do not feel satisfied if they do not feel like they are meeting higher ends with their contributions. They rely on their careers for building a personal identity and experience deep disappointment if what they are doing does not align with their vision for themselves. Peart (2019) advises companies who hire Millennials to seek ways to reward them that are different from remuneration and promote autonomy and initiative.
Peart, N. (2019). What does Millennial loyalty look like in today’s workplace? Forbes. Web.