Millennials can have a lot to offer. Being new in a career, and fresh out of college in certain instances, can result in some fresh ideas, excitement and enthusiasm for a law firm.
The reality, however, is that there is some data as it relates to millennials that you may want to keep in mind as you make hires. Knowing the data can help you understand millennials — and understand what is often important to them. Additionally, the data can also help you have reasonable expectations.
For example, according to a recent Wall Street Journal article, those age 20-24 generally stay at a job less for about 16 months. For those who are age 25-32, the media length of stay at a job is 3 years. To some, this data might be surprising, but you want to keep this data in mind nonetheless.
By the same token, according to a recent Gallup Poll, millennials oftentimes do not feel close attachments to their jobs, either. The poll showed just 29% of millennials are engaged at their jobs, while only 25% are full engaged. According to this same Gallup Poll: “Millennials want to understand how they fit in with their jobs, teams and companies. They look for work that fuels their sense of purpose and makes them feel important. Seventy-one percent of millennials who strongly agree that they know what their organization stands for and what makes it different from its competitors say they plan to be with their company for at least one year.”
There are some who would take issue with this data by claiming that it is vastly over-stated. However, no matter who is right or who is wrong, it is something for law firms to at least keep in mind in terms of expectations and setting up an environment that is attractive to millennials if you are going to hire them.
Certainly, many millennials can make a great contribution to many law firms. At the same time, you generally have to be reasonable in terms of your expectations as it relates to the average length of stay. You also want to develop a work environment, as the Gallup Poll suggests, that illustrates to your employees what your organization stands for and what makes it different.
Keep in mind as well that if you have hired a lot of millennials at your law firm, and have experienced some turnover along the way, this is right in line with all the statistics that are out there.
If you have any thoughts, feel free to share them below.