Who’s Really To Blame For Plummeting Employee Loyalty?

If someone has a job with a healthy work-life balance, opportunity for advancement, a fair wage, and appreciation from supervisors, he or she is much more likely to stick around. So, as more and more younger adults exhibit a dip in loyalty to their employers, it begs the question: Is Generation Z just a fickle bunch or is there a deeper issue driving them away from their jobs?

An older professional’s perspective

For generations, it was almost a foregone conclusion that, upon landing a so-called “good job” early in your career, you’d stay with the company for years, if not decades.

But things have changed dramatically in recent decades, and the reinvention of employment has shifted into overdrive over the past several years.

Take 52-year-old Steven Piluso for example. The consultant recalled his first post-college job orientation, when he heard about the position’s benefits and looked at the example of his grandfather — who worked at the same bank for nearly half a century — as inspiration.

Loyalty is often no longer an option

But within a few years, the company had rescinded many of the benefits Pilusa came to expect — and the longevity exemplified by his grandfather wasn’t really feasible anymore.

He spent years bouncing around to other companies, witnessing pensions give way to 401(k) retirement plans and other formerly common perks either scaled back or eradicated.

Nevertheless, there’s some cause for optimism. Many companies are rediscovering the benefits of employee loyalty and there’s been a recent ascendency in labor unions.

If employers want to attract long-term employees, though, Piluso said: “It’ll require companies to understand that there’s a massive misalignment between what companies think will create loyalty versus what makes employees feel like they work for a great company and want to stay.”

Chris Agee June 1st, 2024

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