Millennials have a different way of looking at their careers than the previous generations. Leaders of today need to learn the keys to retaining and engaging millennial employees.
According to AOL, millennials rank quality management, opportunities for growth and advancement as well as job roles that they are truly interested in as more important than income. These employees need to feel engaged, important and motivated in their careers.
The study by Gallup revealed that, because of this, only 38 percent of millennials have comfortable enough income to buy the things that they want. The rest only have enough to buy the bare necessities.
However, it was also revealed that as long as these young professionals feel motivated and challenged, they find a way to live within their means. The study showed that millennials who felt engaged in their current jobs were less likely to leave for a raise in another company.
Inc. shared tips that leaders should not do if they want to retain their millennial employees. This will help employers to be aware of the things that could cause your younger workers to up and leave.
1. You don't do regular performance reviews.
Millennials want constant feedback on their performance. Leaders need to start talking about their work at least monthly. The current generation of employees loves receiving recognition since it shows that they are bringing value to the organization.
2. You don't provide a career advancement plan for them.
Everyone wants to know where they're going with their career. This is especially true for millennials since, nowadays, there is no longer a straight and definitive career path in any industry. Again, millennials value the opportunity to influence the organization they work for.
3. You don't give them enough responsibilities.
Empower your millennial employees by giving them the ability to make decisions and exercise influence over business matters. There are plenty of projects, tasks and meetings about the company's strategy, mission and culture that they can be involved in.
4. You don't offer more opportunities for volunteer work
Millennials are the most ideal employees to do volunteer work since they have passion and energy to give back to the community. Employers need to start incorporating skills-based volunteering as part of their branding and recruitment strategy to attract the younger generation of workers.