How to Keep Millennials from Leaving Their Jobs

Posted by Bernie Reifkind on September 1, 2016

The Millennial generation includes those born between the years of 1980 and 2000, and by the year 2020, it is believed that they will make up nearly half of the workforce in the United States.

However, one of the traits of Millennials is that they are difficult to keep in a job role for a long period of time. Millennials frequently change careers and may leave a position after only a year. This contrasts previous generations like the Baby Boomers who may have stayed with the same job for a decades or more.

So how can your company keep Millennials happy so that they stick around? Here are a few ways.

  1. Give them independence and flexibility. Millennials are self-directed workers and like to have the freedom to work on their own. According to an Intelligence Group study, 72 percent report wanting to be their own boss. They also often look for mutual respect between bosses and underlings. They also are top-notch multi-taskers, so if you let them work from home, they’ll actually get work done. Don’t be afraid to let them off the leash, so to speak.
  2. Consider implementing a mentoring program. Millennials have goals and want to move up the corporate ladder, so you may want to consider putting together a mentor program for these individuals to keep them engaged and to help nurture their skills from entry- to senior-level.
  3. Have a great mission statement. Millennials often seek a higher purpose when it comes to their work. When trying to keep Millennials happy, remind them of your company’s mission statement, and how they contribute and are crucial to the greater cause. They like to know they are of worth. Forty-nine percent of junior Millennials (or Millennials in graduate or junior positions) reported in a Deloitte survey that their personal values or morals were very influential in their decision-making at work.

Millennials sometimes get a bad rap for their dependency on social media and technology, but they have many strengths, like their self-sufficiency and desire to make a difference, just as past generations. All you need to do is know how to nurture these strengths and there’s much success to be gained from this younger generation.

 

Bernie Reifkind is the CEO and founder of Premier Search, Inc. a nationwide executive search and placement firm. In addition, Bernie provides career guidance and strategic interviewing techniques to professionals at all levels. P: 1(800) 801-1400 or email at ceo@premiersearch.com.

 

 

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