This week, we have a contribution from our new Marketing Assistant Sophie with her views on how to retain her generation – millennials:
The stereotype of millennials jumping from one job to the next is all too real. I would know, because I am one. I’ve even come across articles that refer to us as the job-hopping generation. A fast staff turnover can reflect negatively on the employer, ultimately devaluing the culture of a workplace. So, how can employers retain the younger generation? And more importantly, can they?
Although it’s still common for employees to stay within a company for job security, millennials are becoming more subjective to the opportunity of learning new skills and growing their resume. We have grown up in a tech savvy generation that allows us to constantly remain connected and encourages us to explore our talents. The reality is, by 2025, millennials will make up majority of the workplace.
We’re not scared to leave a job that is no longer meeting our financial or emotional needs. Society has shifted and employers need to adjust to these changes if they want longevity from their staff.
Some thoughts on how to retain millennial employees:
Understand them – If you want to hire and retain the younger generation, you have to understand them. It’s no longer just money they want from a job, its value and flexibility. They want to maintain a healthy work life balance. This might involve modifying the job position to attract a younger candidate. For example, in an earlier article we suggested offering the opportunity to work from home (5 Ideas to Attract the Best Talent For Your Business). Offering job flexibility will guarantee you attract the best talent for your business.
Career progression and recognition – Deloitte has released The 2019 Global Millennial Survey, which found that the younger generation are disillusioned. They struggle to feel fully satisfied with their lives, their job position, financial situation, and social media status. These findings can help employers navigate their relationships with younger generation staff. Showing recognition for good work will help satisfy your staff member. We have become accustomed to sharing every aspect of our life on social media, receiving instant gratification in the form of likes and interactions. Employers can adapt to this approach by giving their staff gratification in the form of rewards and recognition.
Positive workplace culture – A positive workplace culture has proven to improve staff productivity and longevity. A brand that embodies a positive culture will attract staff with like-minded values. If an employee feels valued as part of a team, they will be more likely to want to grow within that company. Millennials will want to contribute to a team that prioritises physical and mental well-being. Building positive relationships with staff is what cultivates culture, take the time to connect with your team and be transparent about how you feel.
Opportunities and diversity – Keeping your workplace diverse will generate innovation from your staff. Always be open to suggestions. As an employer it’s important to allow room for your staff to establish and prove themselves. Give the younger generation opportunities that will challenge their skillset and keep them engaged within their position.
Thanks for reading,