Some workers — especially if they’re millennials — are never satisfied.
While millennials are roughly equally as likely as members of Generation X and baby boomers to say they are happy at work (86% of millennials say this, compared to 87% of Gen Xers and boomers), they’re more likely than other generations to say they are either actively looking for another job or always open to the next job opportunity, according to data released Thursday from Fidelity Investments.
Many workers are never satisfied with their jobs
Percentage of workers who are either actively looking for a new job or always open to a new job
| Millennials | 49% |
| Generation X | 44% |
| Boomers | 33% |
Source: Fidelity
Kristen Robinson, the senior vice president for women and young investors at Fidelity, says this may be partly because millennials are more focused on the quality of their work life (and more likely than other groups to take a pay cut at another firm to get it) and are willing to look around for different options in pursuit of that perfect balance.
Even though millennials are more likely than others to constantly look for a new job, the reality is that many of us — no matter our age — are always on the job hunt. Nearly two in three workers look for another job within the first three months of starting a new job, according to an analysis of 8,000 adults released this year by Indeed.com. And a survey of more than 3,000 workers by CareerBuilder.com found that roughly one in three workers say they are regularly looking for a new job — no matter what job they currently have.
“It’s the continuous job search,” says Dan Schawbel, founder of WorkplaceTrends.com and author of “Promote Yourself.” “The second someone starts a job, they’re already looking for a new job.”
It’s tempting to believe that if we were paid more, we wouldn’t look elsewhere for another job. And there is probably some truth to that notion, as recent wage growth has been slow: Average hourly earnings have risen just over 2% in the past year, which the Economic Policy Institute notes is “in line with the same slow growth we’ve seen for the last six years. Plus, for many people early in their career, big pay bumps can come with switching jobs — which may make a switch far more tempting — though those later in their careers may not see such big pay bumps with a new job.
But research shows that our dissatisfaction with work is often less about money (though this is a factor) than it is about advancement opportunities and other aspects of office culture. Indeed, of employees who quit within the last year, the No. 1 reason they did so was because of a lack of career advancement opportunities (26% said this was the reason, compared with fewer than one in four who cited low pay), according to the 2015 Randstad Employer Branding Survey, which surveyed more than 10,000 workers.
Employees typically stay for the office culture and perks. Some 54% of workers cited people they work with as a top reason they planned to stay at their jobs, a CareerBuilder survey of more than 3,000 workers found. That was followed by a good work/life balance (50%) and good benefits (49%). Pay was only the No. 4 reason for staying put, with just 43% of workers citing it as their top reason.
This article was originally written by Catey Hill for Marketwatch.
