The Real Secret To Keeping Millennial Employees
What’s the trick to keeping those millennial employees around? If it seems like every 1-3 years they leave a job, that’s because 42% of them do. They leave for a variety of reasons, but it’s probably not because you don’t have a game room or smoothie bar.
The Root Of The Problem
Millennials have a bad reputation for being impatient, spoiled, and entitled. However, their education and out-of-the-box thinking make them highly desirable as employees. It’s time to start looking at what’s really going on. Why are millennials leaving jobs? Job responsibilities, work environment and pay all factor into the equation, but what they are really looking for is something that has fallen out of trend entirely: mentorship.
Take An Interest
When you join the 8-5 life now, you get a quick two week (or less) training/orientation and then it’s “hit the ground running.” You get a review once a year to evaluate your performance, and maybe a raise. But if you want to stand out as an employer, take an interest in mentoring your new hires. It may seem old-fashioned, but what these young employees are looking for is some guidance. Many of them are coming straight out of college and possess the necessary skills for the job, but not the life-experience.
Even if they have been in the workforce for a number of years, they may have already been victims of downsizing and come to expect very little company loyalty. Loyalty is what can set your company apart from others. When you hire someone new, make sure they know you are committed to helping them in their journey to grow within the company (not out of it).
How To Mentor A Millennial
Millennials grew up in a different time, and they may not respond to traditional techniques. These employees crowdsource on social media to help them find a tailor or the best Italian food in town. That doesn’t mean they can’t benefit from a mentoring relationship at work. You just need a new approach. Here are some ways to reach out to your younger employees:
- Introduce them to valuable blogs, websites, podcasts, and live streams related to your industry
- Encourage them in areas of shared company values, like environmental initiatives or volunteer work
- Ask them for help occasionally – yes, it’s a two-way street. Millennials can problem solve with the best of them.
In short, keeping your Millennial employees year after year comes down to how well you connect with them. The good news is that it will cost you less in fancy toys.