Millennials don’t like to work in the same role too long.
On average they spend 3.4 years in a job, compared to Gen Xers who average 5.8 years and Baby Boomers who hang around for 7.3 years.
While many corporations are investing in employee retention strategies to cope with this new fleeting worker, a new report by Kronos reveals there is a much more efficient way to keep them working for you.
“Organisations need to consider the advantages of a ‘motivate and rotate’ hiring practice,” the Motivating Millennials report reads.
“[This] focuses on greater employee engagement, continuing education and rewarding peak performance over length of service.”
Two-thirds of Millennials said they would stay in a role as long as they were acquiring the skills and training to leapfrog them into their next position.
“Our findings should raise alarm bells for organisations to go beyond traditional attract and retain thinking, and start considering what is required for the organisation to continuously motivate and rotate this workforce,” said Peter Harte, managing director at Kronos Australia, New Zealand and South East Asia.
“We challenge organisations themselves to adapt to and embrace this change, to get ahead of the traditional bell-curve by taking on the talent taboo created by the Millennial workforce.”
Here are 12 lessons business needs to know about Millennials in order to captivate and engage them in the workplace, according to Kronos: