Millennial retention in the workplace

March 28, 2021
Millennial retention in the workplace

Millennial retention in the workplace

Millennials are much more likely to hop from one job to the next, according to Gallup. As this group of workers continue to make up a larger and larger portion of the workforce - it’s vital that employers continue making their organization attractive for Millennial employees.
So how do you go about retaining the avocado-toast loving generation?

Your values are everything
Did you know that a whopping 75% of Millennials would take a pay cut to go work for an organization that is socially responsible? That means that you can invest heavily in wage increases and benefits improvements without changing much about how Millennial employees perceive you. One way you can embody positive values is holding space in your Careers page to explain what your organization’s mission and values are. Make sure you also demonstrate how your company puts those values into action - otherwise prospective young employees could see this as showmanship rather than impactful.
For example, if you use Ariglad, our team provides HR departments with a PR package that you can add to your career page which outlines how your values of trust and transparency are actively demonstrated by including ways for employees to anonymously ask questions or raise concerns. 

Emphasize opportunities to grow 
Did you know that training is the number 1 factor that prospective employees consider before starting a new role? The same study found that 71% of Millennials who have a high chance of leaving their company within two years are unhappy with how much career development opportunities they have. 
Combat this by having a conversation about an employees career plan right away. Are they interested in managing people? Do they want to improve certain skills or achieve a certification in their field? Understand what motivates your employees and identify ways to align their goals with the goals of your organization or team. Equally important, communicate that these opportunities exist so your employees aren’t left wondering what their next step is.

Stand apart by being trustworthy…really 
Earlier I mentioned that 75% of employees would take a pay cut to work for a socially conscious organization. However, don’t think you can slap some catchy values on your career page and call it a day. Millennial employees are much less trusting than previous generations. That means that transparency is a critical part of winning the trust and interest of both prospective and current employees. If you’re going to adopt certain values and principles to uphold within your company, you need a strategy in place to actually act on them. For example, if you’re advertising yourself as an environmentally conscious company, include examples of your corporate beach cleanup day or the Christmas fundraiser you held for the Amazon Rainforest. Another way to emphasize transparency for prospective employees is by including testimonials on your career page from existing employees about their experience working for your company. 

Has your team thought about your Millennial retention strategy? Which of the above tips are you already doing?

Let your employees reach out anonymously for the awkward stuff (trust us, there's stuff).

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