Millennials are known for frequently changing jobs. Unlike previous generations, those born between 1980 and 1996 seem to move from one company to another without much attachment. This trend is supported by data. A recent report from Gallup focusing on millennials indicates that 21% of them have switched jobs within the past year, which is more than three times the number reported by non-millennials. According to Gallup’s estimation, this turnover among millennials costs the U.S. economy $30.5 billion annually.

Furthermore, millennials seem less committed to staying in their current positions. While 60% of non-millennials strongly agree that they will still be working for the same company in a year, only half of millennials share this sentiment. For employers, this implies that half of their millennial workforce doesn’t envision a future within the organization.

Given that many millennials don’t intend to stay long-term in their jobs, it’s understandable that they actively seek new opportunities. Gallup’s research indicates that 60% of millennials are open to switching jobs, which is 15 percentage points higher than non-millennial workers. Additionally, millennials are more inclined to seize better opportunities, with 36% stating they would explore job options with different organizations in the next year if the job market improves, compared to 21% of non-millennials.

Millennials’ Engagement Trails Other Generations

What prompts millennials to frequently change jobs? One plausible explanation could be their low engagement at work. Gallup’s findings reveal that only 29% of millennials feel engaged at work, meaning only about three in 10 are emotionally and behaviorally connected to their job and company. Another 16% of millennials are actively disengaged, indicating they may even harbor negative intentions towards their company. The majority of millennials (55%) fall into the category of not being engaged, surpassing all other generations in this aspect of worker engagement.

Failing to engage millennial employees represents a significant oversight for organizations. The majority of millennial workers are disengaged, displaying minimal energy or enthusiasm for their jobs. They approach work with indifference, merely fulfilling their hours.

It’s plausible that many millennials don’t necessarily desire to switch jobs, but their current employers fail to provide compelling reasons for them to stay. When millennials perceive a better opportunity elsewhere, they have every reason to pursue it. While it may seem like millennials are constantly seeking more, the truth is they simply seek meaningful employment—and they will continue searching until they find it.

Both Attraction and Retention Strategies Are Crucial

Millennials are discerning when it comes to choosing workplaces, and they actively explore opportunities with other companies. For leaders, the challenge lies in understanding how to both attract millennials who are considering leaving and retain those already within their organization.

For further insights into what millennials seek in a job, manager, and company, as well as strategies for becoming the preferred employer for this generation, download Gallup’s latest report, “How Millennials Want to Work and Live.”