Humans are the most valuable and complex resource to manage in any organisation, Opeyemi Fademi, an operations manager, submits while discussing the intricacies of stakeholder management in the workplace.
Managing them, therefore, goes beyond just overseeing day-to-day activities but also understanding what keeps them engaged or pushes them out of the door.
Patience Asore, a workplace coach established that one of the biggest mistakes employers make is assuming an employee will stay with the company forever. Consequently, companies rarely prepare for the inevitable employee turnover.
The conversation around job stability has clearly shifted. A recent debate between industry leaders was about encouraging employees to stick with a company for the long haul or planning strategic exits every 12 to 18 months.
Notably, younger generations, particularly Millennials and GenZs, are spending less time at companies, even when career plans seem well-structured.
A recently released Nigerian Workplace Report by Intelpoint, Techpoint Africa's data and research arm, reveals that 28.18% of 2,600 respondents have spent more than three years with their current employer.
While 87% of the respondents are less than 40 years old, 74.6% believe they have a clear career path at their current companies.
The report thus concludes that longevity at a company is directly tied to age, with younger generations less likely to remain at a company for a long time. Individuals over 40, on the other hand, are more likely to spend seven to 12 years at a single company.
This further aligns with a 2021 report by Indeed suggesting that Millennials spend an average of two years and nine months at a company compared to their Boomer counterparts who spend eight years and three months.
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While retention and attrition rates are part of the metrics used to measure company success, most respondents disclosed that receiving a better offer is often sufficient motivation to jump ship.
At a recent speaking engagement, Muyiwa Matuluko, CEO of Techpoint Africa, discussed the company's low employee attrition rate and questioned whether a low turnover rate is a good or bad metric.
Source: Intelpoint
While an optimist might say it is a great sign that the company is doing something right, a pessimist would argue that employees who do not seek greater challenges stay because they are comfortable where they are.
A professional who has changed jobs four times in three years and is a director believes talents need to job hop to strategically position themselves for better jobs.
What's it about this younger generation?
In the past five years, younger employees have often been labelled troublemakers because they disrupt the existing norms that older generations have quietly accepted.
Their presence has sparked conversations about certain workplace practices, questioning long-standing rules, rigid office policies, and work-life imbalances.
Why is it hard for younger professionals to be loyal and stay longer at a company?
Personal preferences
High-achieving professionals often become restless when continuously subjected to routine work over long periods. Some view staying too long at one company as a sign of complacency — a red flag for future recruiters.
Several employees thrive under high pressure, while others may interpret high-stress environments as a sign they are underperforming. These people would often seek new challenges, hoping to find a company that offers the perfect balance between challenge and growth.
Some technical talents, for instance, are dissatisfied when restricted to certain projects early in their careers, and then seek new opportunities elsewhere. The Nigerian Workplace Report notes certain personal preferences, such as work-life balance, flexibility in working hours, and the ability to move up the ladder faster, play significant roles in deciding the longevity of an employer in a place.
Trade-offs also vary. Some prefer stability over higher pay, while others embrace cutthroat environments to prove themselves. The dynamic between an employee and their manager can also play a crucial role; some are willing to work under strict leadership, while others prioritise autonomy.
Work arrangements, such as remote work, are important too. After all, employees don’t necessarily have to love their jobs as long as the overall experience meets their financial and personal needs.
There is also a group of employees who feel pressured by the expectations to assume managerial roles at their current companies.
They typically respond by leaving for larger organisations with bigger teams, where they are less likely to be considered for management roles. Accessibility to senior leaders for mentorship and growth, along with clear reporting structures, are also notable considerations for this group.
Industry
The nature of certain industries encourages long-term employment. Sectors like law, engineering, and medicine often require years of specialised training, making job-hopping less appealing due to the time needed for mastery.
The tech industry is almost notorious for its fast pace and demand for flexibility. Employees are required to learn quickly, adapt to new technologies, and wear multiple hats. This often results in rapid professional maturity, and of course, faster pay increases.
With such conditions, frequent job changes become commonplace as employees are quick to seek higher-paying roles or greater responsibility.
