Employing Millennials – now you have them….how do you keep them?
With Millennials starting to dominate the workforce, many employers find themselves puzzled on how and what to do with them in regards to retention.
It is a fact that Millennials are taking over the workforce, however, the reality is that the average job tenure is only between 2-4 years for this generation and nothing about that time frame is an issue for them. They welcome change and diversity and see moving to new companies on a regular basis as an asset, not a liability.
According to a Gallop Poll, 6 in 10 millennials have admitted that while currently employed, they are looking for new employment opportunities. The cost of that turnover is estimated to top $30 billion each year.
So the question is….once we attract and recruit them….how do we keep them?
Here are some tips on what Millennials are looking for from their employers:
• Include them - Make teamwork a part of your company's culture
• Embrace technology - Take advantage of their electronic literacy
• Focus on results - Provide feedback on their performance
• Encourage diversity and flexibility - Support their need for work-life balance
• Offer new challenges - Provide an environment with opportunities for advancement & learning
• Provide Communication & Feedback - Praise, pride, recognize and reward them
• Flex-work Freedom - Allow telecommuting or working remotely
According to Boss Magazine, unlike generations that came before them, millennials don’t believe that being miserable at work just comes with the territory or that sacrificing your own personal life, goals, and ambitions is just what you do. Instead, they believe that somewhere out there is a job that’s perfect for them, that fits not only their skills, but also their personality, values, and lifestyle.
The bottom line is that the majority of millennials are extremely dedicated, hard workers who get results. But to attract, connect and retain them, you may have to change your thinking and be willing to give them the “modern” workplace they expect.
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