Millennials are notorious job hoppers.
According to the 2016 Deloitte’s Millennial Survey, the average amount of time a millennial stays in a job is approximately 1.3 years.
Not only that, but two out of three millennial employees hope they will have moved on from their job by 2020.
This is a significant change from 20 years ago when a person had one, or at most two, careers in a lifetime.
Andrew Joyce, the co-founder of recruitment platform Found, says millennials need other motivations than workers for generations before them did to stay engaged and be retained by employers.
Here are his 6 tips for retaining millennial employees.
1. Communicate your organisation’s purpose
It’s important from day one to give your employees a clear outline of what it is your organisation is trying to achieve and what impact their role has in working towards this common goal. By providing them with a clear objective and an explanation as to why their contribution matters, your team members will feel valued and motivated to complete the job assigned to them.
2. Be clear with career development goals
One of the major reasons cited about why millennials job hop is an unclear career path. Millennials tend to disengage instantly if they feel stuck in a job with no future prospects. Managers should keep their employees motivated by providing them with clear career development goals, and realistic expectations to allow them to reach it. Employees are also kept engaged with ongoing on-the-job training and additional education to allow for development.
3. Ensure your organisation acts with integrity
Ethics, trust, integrity and honesty, according to millennials, are the key characteristics they look for when job hunting. They want to work for a winning organisation they can be proud of, that has leaders with a blend of competences, integrity and a clear vision.
Just because millennials are often the youngest generation in a business, doesn’t mean they like to be treated that way. They want to work in an inclusive environment where they are respected, valued and treated fairly.
4. Lead, don’t just manage
When a business’ senior members focus on not just being a day-to-day manager, but on being true leaders, they are able to truly inspire not just millennial team members, but also the rest of the organisation.
5. Provide flexibility
Most millennials crave flexibility in their work environment, along with the opportunity to shift hours to suit their already bustling schedules. If their position allows for it, provide the option for employees to work from home a few days a week, or if possible allow your employees to work hours that they are the most productive.
6. Provide frequent feedback
It’s important to give employees regular feedback and performance reviews, especially if they aren’t performing the desired way, so they know how they can improve and grow into the future.
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