Millennial’s will account for about 40% of the workforce by 2020.
This means to keep your company alive you will work with this generation.
This is not bad news, in fact it seems that the often bashed generation may just be misunderstood. Increasing understanding on the core values of the generation can lead to increased retention and lower turnover rates.
Millennial’s believe in a “One Team” mentality, in fact about 88% of Millennial’s reported a preference in collaborating rather than competing. The “Everyone gets a trophy” behavior has given way to a group of individuals ready to work as a united front.
But how do you increase retention with a group that is known for seeking new opportunities every 1.5 years?
It’s no secret that Google has one of the largest pools of Millennial’s working for them and their turnover rate is minimal.
Do you want to know how they are achieving this?
Here it is –
They created a company culture that feeds right into the soul of the Millennial. Here are some ways Google and other top companies like iDeal Personnel have been successful in retaining quality Millennial Employees.
- Flexibility with Attire
- Look Beyond the traditional 9-5 at a desk, consider the possibility of remote working or flexing hours if possible.
- Create a comfortable and welcoming work-space.
- Supportive and empathetic supervisors.
Whatever you choose to offer (flexibility, support, etc) be sure to back it up. False or insincere practices lead to low retention. This holds true for all employees, not just the Millennial group.