For college graduates, the first job after graduation may be just a stepping stone on the way to bigger and better things, and if you’re a company that’s hired that perfect graduate, you may lose him or her quicker than you think.
A recent Express Employment Professionals survey found that most employers – 77 percent – do not expect recent college graduates to stay more than a year in his or her first job. Of the franchises surveyed, only 23 percent believed the average graduate would spend more than a year with the company.
That means all that time you spent recruiting vibrant college grads is for naught, if you can’t keep them.
The Grass May Not Be Greener, but Who Cares
Express released the 2014 edition of the “America Employed” survey of 115 Express franchises across the nation. Respondents to the survey were asked how long the average graduate stayed in their first job following graduation, and the results were pretty clear. Graduates are looking for new or better jobs less than 12 months after being hired.
“These survey results bring to mind a couple of trends that we’ve seen for years now,” said Bob Funk, CEO of Express and a former chairman of the Federal Reserve Bank of Kansas City.
“First, many in the Millennial generation are taking jobs that they are over-qualified for and thus are eager to move on when something better appears. Second, we’ve seen a decrease in employees’ commitment to employers as a higher value is placed on personal advancement.”
So what does this mean for employers? First, companies need to find ways to attract young talent and make the company appealing enough for them to stay.
Keeping Your Talent
Competition for attracting talented college graduates is fierce, and studies show the battle will only get tougher for the high-demand skills that graduates have. One way businesses can keep those talented workers is to offer an opportunity for professional growth.
Professional development and the possibility of advancement may be the perfect carrots to dangle in front of your new hires, but investing in their future shows you want to keep them. Add on training and promotion, and you’ll make staying on your team more appealing.
“It’s true that the ‘grass isn’t always greener,’ but this generation seems plenty willing to go check out the grass on the other side,” Funk said. “Employers, take note!”
How long did you stay in your first job after college graduation? How long do you expect to stay in your first job? Let us know in the comment section below!
Movin’ On Up is brought to you by Express Employment Professionals.