For many business owners and managers Millennials remain somewhat of a mystery, but as the largest generation in the U.S. workforce, it is a mystery worth solving. While there are exceptions to the rule Millennials are most often technologically driven, creative, and adaptable—and whether you are hiring one, working with one, or managing one, the key to retaining Millennial talent lies in meeting their career goals and needs. Here are some tips to help you attract and retain young talent by focusing on the right aspects of your business.
How to Retain Millennial Talent
In a recent study, 87 percent of Millennials listed career growth and development opportunities as a key factor of employment. By meeting this demand you can increase productivity and profitability by helping employees to perform their jobs more efficiently and effectively. Build stronger relationships, engage the Millennial workforce, and help them achieve their goals using these tips:
Encourage goal setting.
Millennials are goal oriented and driven to succeed, and if their goals do not align with the company they are working for they are more likely to move on. By encouraging employees to set goals for themselves and providing them with the tools, knowledge, and support to achieve them, you can offer them a greater sense of purpose and fulfillment while helping them feel like a valued member of your organization.
Increase employee engagement.
Millennials need to feel a healthy connection to their superiors, relying on them for guidance and learning. Mentorship and feedback both help to keep employees engaged, allowing them the opportunity to ask questions and gain insight. By keeping engagement high employees can ensure they are on the right path to achieve company and personal objectives and that they are better equipped to provide peer-to-peer support to others as they move up through the company.
Provide development opportunities.
Millennials may be more inclined to seek employment elsewhere if they believe there is no opportunity for growth or if their organization is not making full use of their skills. Managers should be proactive in their roles, by engaging employees in conversations about growth and development to ensure their needs are being met and there is an opportunity to further enhance skills relevant to their desired positions within the organization.
Increase employee productivity and satisfaction and retain top Millennial talent by providing ample opportunity for growth and development within your organization.