Job Stability vs. Job Mobility: A Generational Shift?

Last month, my step-mum-in-law logged off her laptop for the last time after being made redundant—after 36 years with the same company.

THIRTY-SIX YEARS. One company.

My dad, a Baby Boomer born in 1946, kicked off his career as an apprentice irrigation engineer in 1971. He wrapped things up in 2008 as a senior director and majority shareholder, and he literally only ever had one “real” job! Back in his day, that was the norm.

This got me thinking about how much our work mindset has shifted over the past couple of decades and how loyalty and longevity have danced a rather curious tango.

Traditionally loyalty was a massive two-way street with employees committed for literal decades, and in return -stability, a real sense of belonging, and the perks and benefits which came with said longevity.  Like my dad, like my stepmum-in-law and like the vast majority of people of the older generations.

Over the last 20-30 years, the dynamic has shifted dramatically – gargantuan tech advances combined with possibly the biggest shift to the workforce demographic with millennials and generation Z now making up well over 60% of the UK workforce and who prioritise strategic career growth (perhaps social media led societal expectations – more on that another time!), purposeful work and a genuine work/life balance over tenure.  They are much more likely to switch job more frequently to find better opportunities, a better package or something which aligns more with their personal values.

So why the shift?

Economic uncertainty is a massive one here.  Recession and downturn cause a reasonable amount of panic and in many cases either not enough fat to buffer the tough times, or not a strong enough commercial leadership to navigate the storm.  Either way, survival mode kicks in – for both businesses who often resort to redundancies and layoffs; and to employees who, feeling the uncertainty, jump ship to something which may seem more stable. 

It’s a real ‘survival mind-set’.  Sometimes it pays off.  Often it leaves one party feeling burnt and let down.

The explosion of tech advancements, and a whole new entrepreneurial generation who are challenging the status quo and faster than ever (thanks social media) bringing new ideas to life. 

New is exciting.  And exciting fuels the younger generations; even when it’s risky.  It’s rapid and it feels rewarding.  And it’s celebrated.  But tech moves relentlessly fast, and you can almost bet that someone will be offering something even more exciting before your next birthday! 

Business leaders are increasingly younger also; they understand and therefore respect more perhaps, the need for flexibility, for continuous learning opportunities and for offering a culture of purpose.  Gone are the days where longevity meant being promoted and boardrooms were full of ‘in-our-day’ folk, many of whom being very stuck in their ways and resistant to change. 

The challenge is retaining the good bits of the traditional work mindset whilst allowing and encouraging the inevitable evolution.  Progress. 

Generation Alpha I think will bring a whole heap more challenges as they begin to enter the workforce! It won’t be long. 

So, in short, the concept of loyalty has evolved from a long-term, reciprocal relationship to a more fluid and transactional dynamic.  Both businesses and employees are now much more reactive, mostly prioritising immediate needs over long term commitments.  The shift reflects much broader societal and economic changes which emphasises adaptability over tradition.  However, a very fine balance. 

As always, would love to hear your thoughts on this.

Kx

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