There’s a whole lot of buzz on Gen Zs, but who is talking about their immediate seniors, the millennials?
Millennials, born between 1980-1996, constitute a significant amount of the global workforce. They have proven themselves to be indispensable in the workplace because they have a lot to offer and are key to successful enterprises.
Getting millennials to stay all comes down to creating a healthy work environment that fosters growth and fulfillment. Here are 7 easy tips to create the right work conditions and increase millennial employee retention.
How To Increase Millennial Employee Retention
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Offer higher pay
Millennials are in a life stage characterized by increased financial responsibilities. Certain life events like getting married, having kids and supporting old retired parents requires decent pay. Not being able to meet up to financial obligations can slowly build frustration and when this occurs, the most employees seek better employment elsewhere. Employees that choose to settle and stay usually perform sub optimally due to stress and worry. Either way, the organization loses. The solution? Provide higher wages. This can seem like a dent in the company’s budget at first, but it’s actually an investment, one whose returns are increased job satisfaction and lower employee turnover.
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Get clear on work expectations
There could be a lot of uncertainty in the workplace with regards to job execution. This uncertainty can breed feelings of distraught and tension when both employees and management feel they aren’t making any head way. Communication is key, the management should routinely block out time to fill employees in on what is expected of them and provide guidance where necessary. This accords feelings of competence, making employees feel like valuable assets to the company.
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Be transparent
Millennials are individuals that place a high value on career progress and promotion. They want to climb the corporate ladder and they want a clear path on how to achieve this. Avoid making employees feel they are running around in circles or are at the mercy of chance by being clear and transparent about what it takes to ascend the corporate ladder. Give them a sense of hope and control over their careers.
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Give recognition
At the heart of all we do are emotions and ultimately, we tend to stay in environments that makes us feel valued and appreciated. Millennial employees might not be the best at their fields, they might not always complete projects excellently but they are just being human. Make consistent deposits in their emotional bank accounts by lauding unique skills and talents. Give recognition to individual key strengths and expert knowledge, reward creativity and performance.
This makes employees feel valued and the dividends would be reaped in form of reduced turnover rates because people generally don’t stay away from people and places that shower them with praise.
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Offer benefits
Studies have shown that employee benefits is essential to a healthy work environment. Benefits like health insurance and paid time offs make happy employees. Providing benefits is not enough, encourage their usage. It may come as a shock to the management that some employees intentionally refrain from using benefits due to the misconception that using benefits make them a burden to the company and would be the first to be laid off if the need ever arises.
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Optimize mental wellbeing in the workplace
Studies have shown that employees have quit certain jobs for mental health reasons while sighting bullying and harassment as top culprits. Work bullying, which usually occurs as spiteful gossip and snide remarks, is more common than you think and often times the management is oblivious it.
In other cases, managers themselves are responsible for dishing out the bullying. A work culture that gives room for office harassment would not only reduce productivity levels but also increase job turnover rates as a result of job dissatisfaction. To curb these vices;
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Create awareness. While ignorance is not an excuse, take the effort to make the rules known.
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Set up systems that effectively meet out punishment to transgressors. Any behavior not followed by consequences would most likely be repeated. Effectively punishing offenders will drive home the message that certain behaviors would not be tolerated.
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Create a serene physical environment
This might seem like a no big deal but a non-serene environment can actually interfere with work. Eliminating noise and air pollution, providing comfortable workspaces and lounge rooms for employees are key factors of a good environment.
Final note
Optimal employee wellbeing and retention rates are closely linked. The world is already an unpleasant place, the workplace shouldn’t be too. When efforts are made to cultivate the right working conditions, there are better chances of retaining millennial employees because by design, the brain would always choose a feel good environment.
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