Livin' Your Dream!
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Speaking from my experience, companies don't do much to retain employees anymore. Ever since I was in high school, my parents were telling me that the days of people being a "lifer" are pretty much done. If your company does a good job of paying their employees well, you'll probably do decently. But many don't, for instance my company. It's basically "if you want to get paid more, you better leave or find a new job in the company, otherwise you'll be paid this much forever." The only way many young'ns find to actually improve their pay is to move from company to company.
So nothing is at all wrong with these kids.
Most companies aren't loyal to their employees so they don't deserve, nor should they expect, loyalty in return.
The other issue is that millennials, at least a large number of them in urban areas, do not have mortgages or car payments so they are far more mobile than previous generations.
Trust me, I understand there is no loyalty either way. Everyone has to lookout for themselves. Nothing wrong with these kids? I don't buy it totally. Not sure how old your parents are, but people haven't been lifers for a long long time. They've moved from company to company to get a better salary for as long as I can remember, but they weren't leaving after just a year which is my point. If you keep moving every year the amount of salary you gain isn't going to be that great and at some point the hiring manager won't want to hire you knowing they will have to go through the hiring process again in just a year. At least give it 2-3 years to let something develop.