You dedicated time to create a welcoming and enticing work environment. You have positioned your company as innovative and cutting-edge with social media and new technologies. You have embraced a fresh company culture that is appealing to young talent. You have worked hard to attract the younger generation into your organization. Now what?
With 60 percent of Millennials expected to leave their employers within the first three years, what can organizations do to keep these future leaders engaged?
Much like the recruitment methods for Millennials, the key lies within your company culture. In order to retain young professionals, you must live the brand that you have created to attract them.
1. Offer desirable perks and benefits. It may be surprising for many organizations to learn that most young professionals seek the same benefits and perks as other generations currently in the workforce. These include a quick climb up the corporate ladder, career development opportunities, high employee morale and a sense of purpose in their work. By implementing changes to increase retention amongst your youngest employees, you are also fostering an engaging work environment for every member of your organization.
2. Fast track high-performing employees. If you want to keep today’s young, talented individuals within your company, make sure you are placing your best and brightest on the road to success. Highlight and recognize high performers for their accomplishments and provide additional assignments and responsibilities to both challenge and empower them. These added opportunities will not only help prepare you’re A-players for advancement opportunities in the future but will also demonstrate that you recognize their accomplishments and are committed to helping them grow their own success.
3. Offer career development and training programs. If young professionals feel that they are unchallenged in their roles, they are more likely to begin looking for an alternative opportunity to develop and expand their skills. In order to combat this, consider ramping up your training and career development programs Millennials want to grow their knowledge and experience; provide lunch and learns, access to external training and job shadowing to keep them engaged.
4. Foster an inviting and inclusive culture. Don’t overlook the importance of employee morale. Relationships between employees and leadership are key to building engagement. Focus on promoting open and collaborative communication amongst employees, supervisors and even executive management. Encourage positivity and teamwork through group activities and social events. Provide you’re top talent with opportunities to network with executive management. These positive interactions will go a long way to increasing job satisfaction.
5. Engage in community service and volunteer activities. Consider a corporate citizenship program to create a sense of purpose and provide meaning to the work your employees do for the company. Participate in charitable programs and projects in your community. Employees that find their work to be fulfilling and meaningful are much more connected to their employer.
The key to engaging and retaining the younger generation is to not only promote a welcoming and enticing company brand and culture, but to weave it into the very fabric of the organization and to ensure that every decision and action that is taken reflects your mission and values. It is that type of environment that will keep your Millennial employees – and others for that matter – feeling more passionate and committed to their work.
