On Retaining Millenials
Posted on April 19, 2013 by TNS Consulting Team (via Scott Spayd)
Whether you subscribe to the idea that there are or are not generational differences in employees, it is important to make an effort to try new methods for retaining employees of all ages. However, when considering the massive ambition that Millenials are said to have, it is hard to ignore that employers are looking for ways to hold onto younger talent that may be likely to leave for advancement opportunities. The following are a few quick tips for communicating with Millenial employees in such a way that they feel valued and empowered to achieve great things at your company.
1. Ask employees what their career goals are. This should happen with all employees, not just Millenials, but this step helps employers to better understand employees’ motivation for their work. Gaining this insight will allow employers to allocate duties and future responsibilities to employees with those interests. Moreover, if employees report that they are satisfied with their current position and responsibilities (as obviously not all people desire to advance or change roles as others might) organization leaders could take steps to ensure a better work-life balance that capitalizes on what those employees already like about the company.
2. Communicate…about everything! This may seem like a no-brainer at first, but it is astounding how many employees feel left in the dark about their own companies’ operations and even changes in their own job. Increasing transparency in an organization can do wonders for helping individuals to gain a sense of ownership in his or her company. Feeling involved and valued then helps retention by not pushing away employee who may feel uninvolved or forgotten in the organization.
Do you have any experience with managing Millenials and efforts to retain talent? Do you think retaining Millenials is different from retaining other employees?