TIPS FROM YOUR TRAINING COMPANY
Ah the Millennials.
For many Baby Boomers like me, they seem like a whole new breed of employee, colleague and manager across organizations in today’s marketplace.
Although this cohort has a number of unique work related characteristics, one that is by far the most frustrating is the lack of loyalty resulting in turnover.
At first I have to admit, I was quite narrow-minded, concluding that Millennials simply did not have intentions to stick around once they secured a position, and were consistently looking for the next best thing in the meantime.
With statistics revealing that 44% of Millennials say, if given the choice, they expect to leave their current employers in the next two years1 for example, was I really so off base?
Studies and surveys however, have shown that there is much more to it than that.
In many cases, the culprit is not only the Millennial but the manager, business owner and overall corporate culture that the new Millennial hire may find is not all they thought it would be when signing their name on the dotted line!
While keeping a Millennial employee on board is easier said than done it’s not impossible!
What it comes down to is really ensuring that some key areas with regards to onboarding, culture and communication area addressed and updated where necessary.
ONBOARDING
When it comes to onboarding, the same rings true for all employees.
Having a strong program in place that includes touch points from just before the first day on the job and continues on for the time that the employee is with the organization can help with retention.
Socialization is the name of the game with onboarding with the focus being on assimilating the new hire versus training them on the job. Leave that part to your training programs and development initiatives.
Download this free guide to 7 Tips for Onboarding Success and apply these steps to your current onboarding program.
CULTURE
When it comes to the corporate culture there are some big areas of importance for the Millennial employee.
Amongst these is work-life balance, something that continues to rise in popularity and now affects all employees regardless of generation.
Statistics show that 69% of Millennials believe office attendance is unnecessary on a regular basis2. Successful managers appreciate this and have introduced working remotely as an option for employees. Managing this group of employees when they are not in the office is also a skill that effective managers need to develop, alongside a strong and defined remote working process and policy.
Simply allowing Millennials to work remotely without management, feedback and some form of structure in place will likely result in lost engagement sooner than you think.
Download this free eBook on How to Effectively Manage Your Remote Workforce today for an overview of what aspects need to be covered with your remote employees.
COMMUNICATION
A huge part of managing a Millennial employee successfully is the method and regularity of communication with them.
Firstly, they require open communication meaning the days of the set meetings to discuss feedback or questions are no longer! The open door policy resonates well with this group as they have the need for ongoing conversation.
What does this mean for you?
Well, things like texting, tweeting, Skype or an internal IM option are all methods that need to be available. Voicemail is something you’re likely going to want to move away from in order to get in touch with your Millennials as well!
Keep in mind that you should also be providing consistent feedback versus saving it for semiannual or annual reviews. Chances are in that situation, your Millennial will likely be gone or have checked out mentally as they feel undervalued for the work that they’ve been putting in.
Download this free eBook on Training Your Millennial Workforce-6 Steps to Success and take a look through this and other key areas of importance when working with your Millennial employee.
With Millennial turnover costs the U.S. economy $30.5 billion annually3 its definitely hard to see through the immediate feeling that this cohort simply jumps ship whenever it is convenient for them however, taking a step back to really consider what attracts, motivates and retains this new generation of workers can help to better develop the skill and programs that managers require to keep their Millennials happy and on the team longer.
Get in touch with the corporate training experts here at TrainingFolks for your Millennial training, onboarding and communications development and training.
1https://www2.deloitte.com/global/en/pages/about-deloitte/articles/millennialsurvey.html
2http://www.ryan-jenkins.com/2014/10/27/27-stunning-millennial-stats-about-our-future-employees-leaders-consumers-and-parents/
3http://www.gallup.com/businessjournal/191459/millennials-job-hopping-generation.aspx+