Think Twice: How to Retain Your Millennial Workforce
Posted on Monday, March 11, 2019 by The Workplace Advisor — No comments
Millennials are a topic of much conversation in the business and recruitment world, especially how to retain them. What millennials are looking for in a career is very different to their baby boomer and gen X parents. One of their desires is for more freedom and flexibility to change jobs and careers, leading to the label of the “job hopping generation”. This begs the question for businesses—how do you retain your millennial workforce?
Who are millennials?
First, it’s important to understand who your millennial workers are. Millennials are those born between 1981 and 1996, making them your 23 to 37 year old employees. Millennials currently make up 35% of the UK workforce. By 2020, that figure will rise to 50%, so they most likely make up the largest part of your workforce. This means they’re integral to your workforce.
What do millennials want?
Studies have shown that millennials are less interested in finding a job for life than previous generations. Instead, they seek varied experiences and the chance to develop new skills. They want transparency and honesty from their employers. They expect diversity and inclusivity in their workplace. And they are happy to move elsewhere if their company doesn’t deliver that.
See the value
Unfortunately, there are many labels ascribed to millennials, such as ‘lazy’, ‘entitled’, and ‘too politically correct’. If you want to retain this generation, you need to avoid such stereotypes and see the value these workers bring to your business. As a leading London recruitment agency, we know first-hand that millennials are a massively powerful force of imagination and innovation. They make companies strive to be better places to work, and it’s in your best interests to keep them.
Redesign the job
We can offer the best millennial candidates as a top PA recruitment agency, but we can't make them stay in the role. That task falls to the managers who run the business and lead staff, and their goal should be to retain this new wave of talent. Accomplishing this is can be challenging, but when you focus on what millennials want from a job, you can resign the job to match their needs. Reconsider job role parameters to nurture their love of new experiences, and offer them courses, training, and development opportunities to gain new skills.
Be more flexible
To retain their millennials, some companies have switched to organisational structures that allow workers to change positions regularly. This may sound complex, but if you train everyone at a certain level in various skills, then your employees are free to move between roles. That way, they’re less likely to leave for a different company and take their skills with them. Restructuring your company to be more flexible is one way to keep millennials on-board.
Keep it interesting
Millennials have an urge to see and do new things, and you can satisfy this by providing a creative atmosphere where everyone’s views are listened to and all levels can contribute to ideas. Empower them to make decisions and influence change. Think about ways you can make even the most basic office support jobs interesting and it will be easier to retain your staff.
Inclusive, transparent workplaces
As millennials are soon to be the dominant workforce, it’s time to change how you operate. Millennials expect transparency and mutual trust from their employer, so make sure you keep them in the loop. Communication is key with this generation. What’s more, they want to work in diverse and inclusive workplaces, where everyone is treated fairly, so you need to ensure that your workplace is safe, fair, and welcoming to everyone.
It's not an easy task to change a company to fit with the current workforce dynamic, but the businesses that are prepared to do so will experience real success in their field. If you’re looking to fill office support or PA jobs or need some advice, get in touch with our team today.
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