Are you having trouble filling positions at your small business? As a business owner, do you fear that your younger employees who entered the workforce during the pandemic-affected economy may quit tomorrow without notice? You’re not alone.
The recent years of stagnant wages and rising inflation are taking their toll on workplace employment, especially in certain labor markets like transportation, health care, social assistance, recreation (including amusement parks like Kings Island) and food service.
June 2022’s unemployment rate was 3.6% compared to 14.7% in 2020. In June, the U.S. job market struggled to find people to wait tables and staff factories. The demand was so high that employers tried to lure older workers who left the workforce during the pandemic to return, if for no other reason than to keep up with inflation after an unsteady stock market has left their 401(k)s in jeopardy.
The conversation young workers used to have about their “dream job” now gets the response “I don’t dream of labor.” They tend to be anti-capitalism and view work as a financial necessity where they are overworked, underpaid, and under-appreciated. According to Business Insider, Gen Z workers are more likely to change jobs more often than any other generation, especially if it means a higher salary. Loyalty is replaced with disdain for a what they refer to as a “toxic workplace” whetheror not it actually is.
The National Review recently published some quotes from young TikTok users:
“Life is about so much more than working yourself to death. I don’t want to keep working 40 hours a week, coming home only to have four hours a night to spend with my kids and boyfriend, and do it all again the next day.”
“I don’t want to be a girl boss. I don’t want to hustle. I simply want to live my life slowly and lay [sic] down in a bed of moss with my lover and enjoy the rest of my existence reading books, creating art, and loving myself and the people in my life.”
“I don’t have goals. I don’t have ambition. I only want to be attractive.”
According to Forbes, millennials value flexibility and freedom, and GenZ cares about job security. Read the article and share your thoughts with us. 10 Ways to Attract Young Talent to Your Company »