A report by Eagle Hill Consulting indicates that while attrition rates have been declining, there is an expectation of increased employee turnover in early 2025.
Millennials, male employees, and Baby Boomers are more likely to stay in their jobs, while Generation Z and female employees are more likely to leave.
One reason for the attrition of Gen Z and female employees is that both groups place high importance on workplace culture, flexibility, career development, and feeling connected to their work.
According to the source:
"Employers who want to retain female and Gen Z workers should consider doubling down on engaging with those employees because our data indicates they are most at risk of leaving," Jezior said. "That means digging in to understand the unique needs and preferences of these employees and taking any needed action to meet them where they are. For example, women and Gen Z employees often place a high value on workplace culture, flexibility, career development, and feeling connected to their work. If you're not delivering on those measures, women and younger workers are at a higher risk of leaving regardless of the job climate."
https://www.hrdive.com/news/turnover-expected-2025/729952/ (Oct. 17, 2024).
Commentary
Many managers and supervisors may have a difficult time stating the mission statement of their organization (if there is a mission statement). It is understandable. When you have a deadline or a delivery to make or if someone has a question about leave, you do not fall back on a mission statement for guidance.
However, mission statements are important because they provide the "touchstone" for employees to "connect" to their work, especially for Gen Z employees. As the source states, Gen Z employees want to be "connected".
The mission statement plays a huge role in attracting talent. No one wants to work for an organization that does not help the world or worse - hurts the world. That is why applicants study the mission statement and by accepting a job, they are accepting the mission - a mission they hopefully believe in and that they are committed to achieving.
Unfortunately, over time, as the "wear and tear" and conflicts of day-to-day work sets in for some, the connection with the mission may fade, and they look elsewhere.
That is why it is important for managers and supervisors to reinforce the connection of the organization's mission with their employees - that each of us play a role in developing something that is worthwhile of our efforts beyond a paycheck.
Reinforcing the mission can mean simply bring it up in conversation -reminding employees one reason why they are there.
The final takeaway is that Gen Z has many different qualities. Some are liked and others are not. However, one quality most Gen Z's have is a belief that their efforts are doing something good to help others. If you can keep them believing in the mission, then you will have an employee that may think twice about leaving.