Many businesses are beginning to feel the shift within the industry as an influx of millennial employees take over. With such an increase in millennial employees, some companies are questioning how to retain the younger generation. There has been an obvious change between the decades and how business is conducted, which is making retention with millennials difficult. In order to begin retaining millennial employees for your business, there must first be an understanding of what the younger generation wants in a job.
Millennial Employees: What do they Want?
- Time- A noticeable trend with millennial employees is their desire to be entrepreneurs in the end. This drive and desire to begin something on their own leads the millennials to desire free time to pursue their own goals. Time provided by employers to allow millennial employees to develop new projects can help with retention as well as possible success. Google found success in some of their latest developments by allowing millennial employees free time to explore their own passions and projects.
- Experience- Millennials are always looking for new experiences to add to their belt. A lack of new experiences tend to make millennial employees feel trapped and stuck, which could result in their leaving a particular position. Providing millennial employees with different experiences, whether it is a fun team building trip or a move to a new office, can help businesses retain their millennial employees successfully. These experiences can also inspire millennials to work harder and increase overall business productivity.
- Skills- Millennials are gaining the reputation of being fast and eager learners when it comes to skill sets within the workforce. Once a skill has been learned, millennials wish to learn new skills while also perfecting those they have already learned. A lack of skills within a job could cause millennials to search elsewhere for a more fulfilling experience.
- Collaboration- While the millennial generation has gained a reputation of being disconnected due to technology, they are not known for a disconnect in the office. Millennial employees value collaboration within a work setting instead of fending for themselves. Providing constructive and positive feedback is also valued by the millennial generation.
Instead of fearing or dreading the increase of millennial employees within your business, consider changing your outlook to help cater to the millennial generation. Millennials are destined to accomplish great things within the workforce, they must simply be provided with the tools they need.