Jun 23, 2016 09:39 AM EDT

Top 3 Leadership Solutions To Retain Millennial Employees

Millennial employees are believed to be job-hoppers. With this new breed of workers in the workplace, it is the leadership's role to learn how to better engage and retain millennials.

There is a lot of competition these days. Potential leaders may already be with your company but will they stay there in the long run?

According to Inc., some workplace trends appear contradictory. In a survey by PricewaterhouseCoopers, 60 percent of respondents gave their job satisfaction a high score.

However, only 38 percent gave the company's management a top score. One-third of the participants are already thinking about switching jobs in the next months.

While employers are improving at creating positive workplaces, millennial employees are still feeling discontented. The publication shared three solutions to retaining these workers.

1. Keep a startup mindset. Small businesses actually give their employees more freedom, especially in their work hours. This, in turn, helps to empower millennial employees by not micromanaging their time. Even as your business grows, it's better to stay performance-based rather than boxing workers in with a rigid schedule.

2. Stay flexible. In the survey mentioned above, respondents were very much in favor of being given the flexibility to work from home as well as to set their own work hours. Aside from increasing worker satisfaction, these perks are also known to increase productivity. Other policies such as paid parental leaves also show employees that they are valued.

3. Provide regular feedback. Performance appraisals are important for millennial employees. They want to know which tasks and responsibilities they were able to do well. They also want to know where they fell short so that they can improve on it. Feedbacks don't need to be very formal as long as they're done in person.

WSJ noted that millennial employees also want job security. This is in contrast to the beliefs surrounding these new generation of workers. Millennials want job security but they don't see that in the companies their working for. This is why they keep looking for the next good opportunity, earning them their job-hopping reputation.

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