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- 69% are satisfied with their job.<\/li>\n
- 76% say they like working for their current organization.<\/li>\n
- 49% say they would be happy to spend the rest of their career with their current organization.<\/li>\n
- Yet nearly 1 in 3 (30%) report they are looking for a new job right now.<\/li>\n<\/ul>\n
To Attract and Retain Millennial Employees, Understand What They Care Most About<\/h2>\n
3 Things That Matter to Millennials<\/h3>\n
Some Millennials are trying to escape a situation they don\u2019t like \u2014 a bad boss, office politics, or a \u201cstuffy\u201d culture. Many feel overloaded and underpaid for the work they\u2019re doing. Other Millennials are looking to \u201clevel up\u201d to a better situation, even if they\u2019re generally satisfied with their current situation. Organizations that see retaining high-potential talent<\/a> as a strategic advantage need to be aware of this desire to \u201clevel up\u201d and provide options for employees who have this need.<\/p>\n
To effectively attract, retain, and engage Millennials in the workplace, we recommend that organizations pay attention to 3 dimensions: the people, the work itself, and the opportunities for development.<\/p>\n
1. The People<\/h4>\n
Millennials report that the people they work with are an incredibly important part of their experience. They place significant value on their team, boss, mentors, and friends in the workplace. To attract and retain Millennial employees, create an environment so Millennials can develop friendships. Be sure managers and mentors are trained and have time to connect and build relationships. If Millennials don\u2019t feel they have a community at work, they\u2019re more likely to go elsewhere.<\/p>\n
2. The Work Itself<\/h4>\n
Millennials want their work to be interesting and meaningful, and they value corporate social responsibility initiatives<\/a>. What they do and how they do it<\/em> is critical to their workplace experience. Purpose and value alignment<\/a> are incredibly important to them. Balance is also important to them \u2014 they don\u2019t actually want to be plugged into work at all times. To attract and retain Millennial employees, improve flexibility in the workplace<\/a>. Structure work so that it\u2019s interesting, meaningful, and enables them to enjoy a balanced life.<\/p>\n
3. The Opportunities<\/h4>\n
Millennials worry that they could stagnate and won\u2019t be competitive in the job market. They are interested in equitable access to opportunities for development<\/a>, promotions, competitive salary structures, and feedback for them to feel they’re continuing to progress even as they stay with the same organization. They value autonomy and like to learn and grow, and they enjoy opportunities that allow them to contribute to society because they care deeply about doing good.<\/p>\n
![\"What](\"\/wp-content\/uploads\/2016\/08\/want-millenials-want-from-work-book-center-for-creative-leadership-200x300.jpg\" "\\"What")
<\/a>
\nGet practical advice for managing, leading, and working with Millennials<\/a> to improve teamwork, increase productivity, strengthen organizational culture, and build a robust talent pipeline.<\/div>\nTips for Retaining Millennial Employees<\/h2>\n
Millennials want to advance, and they\u2019d appreciate your help in getting there.<\/p>\n
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- Millennials want\u00a0and need development<\/strong>, so HR leaders and managers who want to retain Millennial employees need to help them to access development. As stated above, Millennials are eager for opportunities, and they would appreciate it if their managers would help them strategize about what they want in their careers and understand what they need to do in order to develop to that point.<\/li>\n
- They\u2019d also like to feel like they\u2019re genuinely appreciated.<\/strong> Providing feedback about what they\u2019re doing well and constructively framing how they could improve or be a better employee is useful and can motivate them. Showing gratitude<\/a> is a good practice for all leaders, but Millennials in particular value this level of feedback.<\/li>\n
- Millennials also want their managers to be coaches and mentors<\/strong>, providing individualized guidance and holding coaching conversations<\/a> rather than merely assigning tasks or delegating responsibilities. Like everyone, this generation doesn\u2019t particularly like being micromanaged, and they seek opportunities to work independently.<\/li>\n
- Millennials still need direction and instructions for what\u2019s expected<\/strong> of them. This means that managers need to walk the line between making sure direct reports understand what needs to be done without telling them exactly what to do in painstaking detail.<\/li>\n<\/ul>\n
Jokes about lazy and entitled youth aside, many of the characteristics that exemplify the Millennial generation overlap with their predecessors, and this is a key truth about Millennials in the workplace<\/a>. In fact,\u00a0different generations in the workplace<\/a> share more common values than you might think.<\/p>\n
While the details of how they live their lives are different everywhere, Millennials are remarkably similar around the world. Organizations that learn how to attract and retain Millennial employees and provide the working conditions Millennials crave will benefit from a generation that is willing to work hard and stay for the long term.<\/p>\n
By understanding this generation\u2019s primary concerns, and by following this advice about providing ample development opportunities, you will be more likely to retain your talented Millennial employees.<\/p>\n
Ready to Take the Next Step?<\/h2>\n
- They\u2019d also like to feel like they\u2019re genuinely appreciated.<\/strong> Providing feedback about what they\u2019re doing well and constructively framing how they could improve or be a better employee is useful and can motivate them. Showing gratitude<\/a> is a good practice for all leaders, but Millennials in particular value this level of feedback.<\/li>\n
- Millennials want\u00a0and need development<\/strong>, so HR leaders and managers who want to retain Millennial employees need to help them to access development. As stated above, Millennials are eager for opportunities, and they would appreciate it if their managers would help them strategize about what they want in their careers and understand what they need to do in order to develop to that point.<\/li>\n