According to a recent Gallup study, 71% of millennials report that they are not engaged or actively disengaged at the workplace.
It’s an expensive morale problem. Millennial turnover costs the US economy an estimated $30.5 billion annually, the study estimates.
So why are millennials so checked out? The buzzword de jour is “purpose.” Deloitte, Fortune, the BBC and countless others report that this generation is motivated by meaning, not just a paycheck! Even millennials themselves are saying that purpose is key. Which begs the question…
Why does the most in debt, financially undervalued generation of employees in the workplace care so much about something as intangible as “purpose?”
The short answer: like owning a house, buying a car, getting married or starting a family, earning a living salary is yet another aspect of adulthood that millennials are optimistically putting off until better days.