Executive Chronicles | via Kyla Camille |
Most business leaders view multitasking as a good thing and a required skilled for any qualified job candidate in today’s modern workforce. New research has shown that multitasking is actually costing the global economy quite a large chunk of money. The lack of productivity due to multitasking equates to global losses of $450 billion dollars annually.
That is a huge loss. A big reason causing this is digital distractions. Millennials in the workplace on average switch their attention between media platforms 27 times per hour. Regular multitasking is also correlated with low emotional intelligence. New research also found that multitasking during cognitive tasks can lower the IQ by 15 points and have the equivalent effect of not sleeping the night before.
There is also more to this story than just multitasking and impulsivity. This also involves how millennials treat their jobs and careers. 21% of millennials report changing jobs within the last year. 91% of millennials expect to stay in job for less than 3 years. Millennial turnover has shown to cost the U.S. economy of $30.5 billion annually.
There are however things that employers can do to help address this issue. Employers have the option to commit to an initial, finite term of employment with an employee. This creates a level of investment from both the employee and the employer without a long-term commitment. Employers can give employees work that gives them a sense of purpose, which is a highly appealing value to millennials.
Most millennials believe that if you stay with one company for too long, it means that you are not advancing your career or there is something wrong with your skills or ambition. By offering advancement opportunities and career advancement training, you can help millennials feel like they are embraced within their role at the company. To learn more about this, check out the infographic on this subject from Bryan College.