A quick how-to guide on retaining Millennials.
- Post By: Charlie Taylor-Smith
A lot can be said regarding millennials in the workplace, whether they’re factual or opinions. Millennials are the current and future employees of your business.
It’s common knowledge that millennials, as a generation, see a great employee experience as one of the most important factors a company can offer, over things like salary.
Millennials want to know that they are making a difference and having an impact on the company and their vision. Millennials are 25% more likely to stay at a company when they understand its vision. Make them a part of something important!
Millennials as a group are not motivated by their salaries, they are influenced by doing work of value and feeling like they are making a difference. Stereotypically, over the course of their careers, Generation Y prefer to work for many companies, for a shorter space of time. Job-hopping has become normalised for the average twenty something.
What are key elements that companies need, to fit with millennials’ new way of working?
Millennials are tech-savvy, they will root through all social media platforms in order to find information on your company. If you treat your staff badly, or have given a bad interview experience, they will see this on social media. It cannot be gotten rid of.
Involve them in important meetings and ask their opinion/advice. Generation Y like to play a part in both their future and the vision of the company.
Value your staff
Millennials have a thirst to learn and gain knowledge, that they haven’t had experience in. Value this quality. Allow millennials to give new projects a go. Trust them to do the job well.
Critique and honesty
As a generation, they appreciate honesty. Be truthful, if they have made a mistake, let them know. Explain the issue and let them rectify the situation. They love to learn, how can they if you aren’t honest?
As a generation, they are incredibly ambitious, but that doesn’t mean they aren’t willing to pay our dues and learn everything they possibly can. Teach them, offer us valuable guidance that we can grow from.