Retaining Employees in the Millennial Generation

July 21, 2011 at 2:39 pm · Filed under Titan Group

Written by Jeff Smith and Lauren Albee

What are some things that managers or employers can do to retain employees in the millennial generation? What can they do to make a job or company more attractive?

The Millennials (born from 1982-2003), also known as Generation Y, will be the largest percentage of the workforce within the next ten years, and they are the fastest growing segment of our workforce.  We get questions every day from leaders about the best ways to manage and retain this talented group of employees.  You need to understand what they are looking for from their leaders and organizations—they want the leaders and organizations to be: honest, transparent, flexible, civic-minded, team-orientated and progressive.

Here are some things that turn-off the Millennials—tell them to pay their dues, do not involve them in decision making, leave them out of communications, ask them to do extra work without compensating them or at least explaining why they need to do extra work.

It is very common for the Millennials to jump from job to job, which could prove to be detrimental to them in the long run. The problem is keeping their attention; many young people switch jobs more frequently because they “just need a change.” They are searching for work that will hold their attention, as well as a job that will allow them to collaborate with their coworkers and leaders. The Millennials would probably advise you to sell that old, long boardroom table on Craigslist and instead invest in a big, friendly round table.

Here are a few suggestions to engage and retain the Millennials: Provide feedback. Often (daily is best; weekly is okay). Respect them and ask for their input; they want to feel that they can contribute. Let them work in teams (this can be a great way to work with other generations), and let them have fun. Some of the best ideas are born while having a good time. Be flexible, especially with schedules and work locations. Let them have access to social media, use mp3 players, IPAD’s, etc. All of these things are part of what make Generation Y unique. Create engaging experiences that will help them grow their skills, and reward extra effort. Let them do some volunteer work in the community; this will help them feel like they’re making a difference. Most of all, explain how their work connects to your vision and mission. It is important for them to know that they are an asset to the company.

Another commonly asked question is: how can we attract Millennials to our organization?

First, ask your Millennials why they were interested.  If you do not have any, then ask your children or find some Millennials in your area and ask them what would entice them to join your organization.  In my research and experience, here are some key attributes for organizations that attract Millennials:

☐      Mentoring programs that allow Millennials to grow

☐      Organizations that place an emphasis on values

☐      Value flexibility and understand balancing work and life

☐      Civic minded

☐      Team orientated

☐      Honesty and transparency with employees

☐      Allowing fun

☐      Leaders that give consistent feedback

☐      Providing learning experiences

☐      Allowing employees to easily move to new roles in the same organization

If you are a leader and your organization can provide the Millennials with many of the aspects outlined above, they are actually extremely loyal.  They will also use their social network to help recruit talent and promote your services to their friends.  Thus, I encourage you to get to know this new generation and be open to learning from them.  They are a confident, optimistic, and technologically advanced generation who can help make to your organization even stronger.

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