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Are millennials having an impact on job tenure?

Are millennials having an impact on job tenure?

Job tenure has been a popular topic of debate for the past few years with polarizing opinions on the subject. Like many, we wonder whether there are in fact predictable patterns or if there are too many variables to provide statistically significant conclusions.  

Our own initial research indicates that overall average job tenure today is at 2 years (compared to the 2.8 year average in 1995). Could this be because of globalization, allegedly, increasing the integration of labor markets? On the other hand, could the growing proportion of millennials in the workforce, being supposedly more prone to changing not just companies but career paths, be impacting this figure in a larger way?

US Workforce by Generation, (in millions). Source

Going down that rabbit hole one would have to, however, point out that millennials might not be the only ones to blame. Companies have also changed the way they invest in their talent and seem to be offering less on-the-job training than in the previous decades, which in turn weakens their ties to their workers. Other research also suggests that employees feel their companies are less loyal to them.

Here is what our preliminary findings show

Source: CV Timeline

An astonishing 27% drop in average job tenure is observed since 1995. What’s even more interesting is that this is reflected across every demonstrated group.

Source: CV Timeline

We are currently training ML models to find out how predictable job tenure can be. We are on a mission to innovate recruitment and strongly believe that providing valuable insights on crucial aspects, such as tenure and other relevant factors, will have a major positive impact on the processes in this industry.