Millennial employees are harder to keep. Every manager knows that. They constantly switch jobs and refuse to settle with anything for a long time. But they’re also known for their great potential and value in the modern society. Companies nowadays require some out of the box thinking, and they’re offering attractive packages to the youth in the effort to steal them away from the competition. This is creating numerous opportunities for them to choose from and creating high turnover rates.
While you cannot blame them choosing a better option, you can certainly convince them that you’re the right choice. Here’s how you attract and retain millennials in your organization:
1. Career Development
Millennials are very career oriented and quite impatient when it comes to their growth. If they see themselves going nowhere with a job, they will eventually switch to a different company to fulfill that need. Give them enough chances to showcase their talents by assigning challenging tasks. Have on the job training programs in place. Knowing that their company is looking out for their overall growth will set up loyalty. Timely give out promotions to prepare them for future roles. This will also encourage other employees to perform better.
2. Hire more of them
Another fact about Millennials is that they mostly just associate with their own generation. They need association with people who share their perspective, culture, and views on a given situation. An organization filled with mostly old age people will never be able to sustain millennial employees for long. Hire more diversely from all age groups and cultures. Having a diverse workforce will also maintain a synergy in your workplace and provide all the different perspectives in every situation.
3. Additional Facilities
Millennials look for much more than just good packages. Free gym memberships, free lunch, gift vouchers, coffee machine, and transport facilities are taken into account by Millennials much more than any other age group. These small expenses go a long way in securing their loyalty. While attractive packages will ultimately be matched by competition, these additional facilities are mostly overlooked.
While they are known for changing jobs too often, millennials are also highly loyal to their mentors. If someone gains their respect and take them under their wing, they will try to stay with that person for as long as they can through their career. Share your knowledge with them as much as they desire. If you help them expand their knowledge, they are much less likely to leave your company.
One of the things that millennials desire most is the Liberty to do things their own way. If you give them that choice, they would prefer to stay with you as very few companies do that. While many consider their actions to be erratic, millennials are well known for their out of the box thinking, which makes all the difference in our highly competitive modern society.
6. Effective Communication
Millennials are full of ideas and potential to do great things. While these ideas are often suppressed they never seem to run out of new ones. They want their knowledge to be acknowledged. Give them enough opportunities to provide you with their insights. Let them know that your value their input.
Millennials are also highly prone to depression, so you need to look out for those signs. While stress is not uncommon in the workplace, it could have huge negative impacts on their brilliant minds. There are tons of different issues they go through that they rather not face alone. While these could be too sensitive in nature to share with their bosses, it’s vital that they do. Have an effective Human Resource manager in place. Provide them with a Secure communication channel like YourSafeHub to share such problems. They will start respecting your more and provide their best to serve your goals.