TODAY's workers transfer much more frequently between companies and industries. In the US, various studies show that members of Generation X are expected to work for around 10 to 12 companies in about three to five industries over their lifetime. Millennials will likely be employed by 12 to 15 companies in approximately four to seven different industries. On the other hand, Gen Z is projected to work for 15 to 20 companies in five to eight industries in the course of their working life. These are interesting statistics. We may not have a similar set of findings locally, but the trend towards a shorter employment tenure is happening. Gone are the days when an employee would stay with a single company or industry for over 20 years.
Long-serving employees are a disappearing breed. There are various reasons why workers move from one company to another and even to a new industry. These include, among others, socioeconomic factors, changes in company direction, professional growth, freelance work, and technological advancements that generate new jobs and industries.
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