His words hang heavy. You look up, as your former employee slides his two-week notice into the only open space on your filled-to-the-brim desk.
But … why?
What motivated him — and 4.3 million other Americans1 — to call it quits? Harvard Business Review says it all hinges on older Millennials.2 So, is it really their fault?
I tested the theory.
Here’s what I found in Persona Views™.
Jobseeker insights, by age.
This is what it looks like on 100,000 demographically-balanced consumers, in September.
Across all ages, job searches are on the rise, ranking in at #19 and #21 for the top trending sites last month. Now, keep in mind, we’re looking at September, here. The months of April, July, and August have already set records for the most workers quitting their jobs in a single month.3
This data proves — the “Great Resignation” isn’t over.
See for yourself. In the 6 to 15 minutes before they hit Talent.com (2nd chart above) a whopping 60% visited another job site. They’re serious. Very serious. Now, according to Harvard Business Review, we should see older Millennials leading in searches behind the scenes.
So, let’s take a peek.
Millennials to blame for the “Big Quit”.
There it is.
Older Millennials are flight risks. Take a look at the left-hand side of the first chart. We’re viewing 35 to 44-year-olds. Not only do they show a higher overall trending rank for job search sites — but, they also have more search sites in their web behaviors than older, and younger groups.
Why this matters.
Well, Millennials are the largest workforce.4 If we see them dissatisfied, it speaks volumes about the labor force as a whole. People have re-shuffled priorities and it’s sparked a revolution.
But, there’s more.
Millennials also control 5% of U.S. wealth. Give these guys a new job, with presumably more pay attached to it, and you’re going to see an increase in spending.
It’s already here.
You’ve seen the supply chain shortage in action. It hit because people are spending more. Sure, the pandemic made things more volatile, and lean supplies made it worse – but none of this would have been possible without Americans’ willingness to spend more money.5
They’re not done.
Most of the new spending is from mobile devices — it takes the lead at 12.2% growth. This behavior isn’t going away. Consumers will keep buying on phones and shopping in stores.6 So, expect with Millennials making more money, you’ll see spending soar.
You need visibility.
The future is still being shaped. But, you have an advantage — none of your competitors do — you took the time to find out what’s going on. So, act on that info, long before they do. It’s easy. You look at the trends then forecast your demand in spite of job losses and shortages.
Persona Views™ is free for 7-days. Start in it now to protect yourself. You’ll keep all the data you learn; leave it on for as long as you find value. More importantly, you’ll see consumer behaviors as they fluctuate. Get the insights you need to stay ahead of the competition.
That’s how you win.