Career change is a key priority for millennial and generation Z employees.
Career change is the process of an employee moving in their career. It can refer to upward or downward movement and movement to another role within the same business.
The Millennial and Gen Z Career Change Phenomenon
Career changes refer to enabling employees to participate in work opportunities that benefit the business and the employee. What exactly does this entail? Well, they can include changes to part-time or remote working from a full-time role and can, therefore, undoubtedly be a useful retention tool for businesses. For example, rather than lose a good team member, they can be given the chance to transition to another role in a different part of the business.
According to a recent survey by LinkedIn, a high percentage of Millennial and Gen Z (and Zillennial, but that’s a topic for another day!) employees would be willing to take a small pay cut in exchange for a role that offered them a better chance of career growth, which, in the eyes of Lotuswise makes sense if you’re thinking about shaping your future!
Why Career Changes are so prevalent
Being able to retain employees by offering them the chance to work in a different role at the same business, could be a good staff retention tool and motivational factor, in fact, it could also enhance staff experience at your company. This ultimately impacts how staff are able to work within your company.
Plus, being known as a business that offers career change opportunities could help enhance your “employer brand” and make your business more attractive to talented employees who, according to the previously mentioned LinkedIn survey, want to work for businesses that offer this.
Lastly, as we all know how woke the millennial and Gen Z generations are, career changes can also be used as a strategy to address challenges such as diversity and inclusion. As businesses step away from rigid career paths and old-fashioned approaches to employment, opportunities for employees have opened up and they can now create the career they want in a way that promotes a healthy work-life balance! The best of both worlds just pulled into career change station, you can be certain that many people are jumping on that train! (I mean, who wouldn’t?)