Multiple reports have shown that millennials are switching jobs more often than previous generations. For this reason, it is vital to have a good employee retention strategy, especially when most of your team is made of up millennials.
One of the most common characteristics of this generation is that they're looking to learn. And it’s clear that they want to be in a company that will nurture their development. So take this to heart and find ways to help educate them and strengthen their skills.
Investing in employee retention is key and here's how you can go about it:
1. Continuing education and professional development
This is a no brainer. We love to develop new and cutting edge skills. The workplace is changing and pretty fast for that matter. Developing new skills and nurturing knowledge is almost a requirement for every young professional. Your millennial talent will appreciate some culture of continuing education and nurturing from you as the employer.
2. Make their well-being a priority
Care! And show it. This doesn’t have to be complicated. It is as simple as educating them on tips and ideas on how to handle stress and communicating that your office is a safe space. How about you offer some healthy bitings in the break room for them? It takes simple things to make us feel happy and appreciated.
3. Break the routine every now and then
Well by now am sure you understand that we are are a unique bunch with unique but reasonable needs and requirements. We love to explore and go for a new adventure and experience. We are always looking for ways to escape routine stuff. How about you introduce a time and a day in a week where they meet up and talk about matters non-work related, a drink out or a team-building activity filled with fun? It’s never that serious. At Yusudi, we usually have a day like this which we call THE HIVE.
4. Encourage a feeling of belonging
The workplace is more like a second home for us, make it feel so. This builds into and says a lot about the company culture. We view our teammates as family. This brings a sense of belonging and peace that creates an enabling environment for us to thrive.
This applies to every generation. Constant and actionable feedback is something that employers should not ignore in case you are looking to retain employees and improve your bottom line. Don’t forget to give credit where it’s due as much as you also rebuke negative performance.
The amount you invest in employee retention efforts will be minimal in comparison to the cost of recruiting replacements. Plus, they will have a more significant impact on the workplace and current employee performance.