As millennials flood the workforce, companies are seeing a massive drop in employee engagement - the lowest it’s been almost a decade. Why? Twenty-first century employees have shorter attention spans, they consume content all-the-time and on-the-go, and most importantly, won’t hesitate to leave an employer they’re dissatisfied with.
In fact, 60% of millennials stay at a job for less than three years - and replacing them costs companies billions annually. In short, millennials look for companies that align with their core values. So don’t repel your best young talent; retain them by considering the following:
1. Millennials recognize that professional development is the pathway to success.
According to a recent survey, training and development is the #1 perk millennials seek when evaluating prospective employers. This is a generation clamoring to advance professionally, and they don’t want to wait for the slow climb up the corporate ladder - they want to take a rocket ship.
2. Nothing is more important to millennials than doing work that matters.
Millennials are on a constant search for meaning, and they’re demanding it more than ever. The better you can educate employees about why your company exists and what it’s doing to help others, the better chance you have at retaining young talent.
3. Millennials demand autonomy to do their best work.
Today you can run a global business with just a laptop and an internet connection. More than wearing a suit and filling up a seat, millennials know success comes from putting in the effort to get outstanding results - no matter where they are, what they’re wearing, or what time they clocked in.
4. Millennials don’t want to play by the rules. And that’s good for business.
Today’s millennials understand that there’s always a faster, smarter, better way to do things. They’re born hackers, always on the lookout for the next smartcut or workaround. They know that getting more done in less time is the greatest chance they have at shaping the businesses of tomorrow.
5. Too much information? To a millennial, there’s no such thing.
Millennials can’t get enough communication. A generation of info junkies, the millennials are hooked on how-tos, programmed to seek out answers, and ruthless when it comes to demanding honesty and authenticity.
6. L&D touches the complete life-cycle of an employee.
Learning and development has the opportunity to engage employees no matter where they are in their tenure. More than just an HR checkbox, from onboarding to training to support – development of an employee is a recruitment win.
About the author
New York based Grovo is a next-generation learning solution for today’s workforce. To learn more, visit www.grovo.com.