It’s hard to retain Gen Y workers. They want a lot, and they want it fast — which can be viewed as both a good and bad thing. It’s good because these young workers are known to be ambitious, tech-savvy and estimated to outnumber every other generation in the workforce within a few years.
It’s bad because the instantaneous age has resulted in everyone expecting instant answers — especially when it comes to their careers. Younger workers want to know where they’re going as soon as they get hired when, many times, even employers have yet to get an image of a possible future outlook.
This means that Gen Y workers may “expect instant career gratification through advancement” even if they haven’t quite earned it yet, Andrew Morris, director of recruitment firm Robert Half, told Georgina Dent at BRW.
The problem is, these workers are so valuable to companies and they’re also hard to retain, so employers tend to “neglect their more experienced employees” to promote their younger hires — and this is a bad management move.
“Ambition is no substitute for experience,” Morris said. “Tenured employees are a huge asset to any company. They have worked hard to build their skills and as they look to round out their careers, they expect to be recognised and rewarded.”
According to a recent study conducted by Robert Half, 38 per cent of the 300 chief financial officers and finance directors who participated said that Millennials are the most difficult employees to recruit and that “once they’re in the door,..they are the hardest to retain.”
Management needs to find a way to make these younger workers happy — or they’ll lose a lot of money having to continuously train new hires because the old ones are leaving. On the other hand, they also need to remember that Gen X workers bring a different kind of skill to the table: experience.
No matter how smart or energetic Millennials are, they can’t learn from work experience they’ve yet to have.
NOW WATCH: Ideas videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.