Magic Mantras to retain Millennials

Last month, most of the people from an organization decided to put their papers down. It really got me thinking- What pushed them to take this decision? The costs of losing a good employee are really depressing. It can cost the organization 200% of their salary to replace them.

Gone are times when people used to stick with their employers for decades. My grandfather worked for his employer for 35 years. My dad served his organization for 20 years. But I’m moving on to a new journey after working at Teach For India for 3 years. People around me switch jobs frequently.

This is the reality. It is really difficult to retain Millennials. The average time a millennial stays with a company today is 2 years. They enter the workforce with a strong drive, much ambition, and they’re eager to put their talents to use. They want to get a head start to their successful lives. If they don’t see their company providing them what they need, they move on.

In a tight economy, it becomes a critical issue. Then how do you ensure employee retention? It’s simple really. You just have to make them feel important. So here are some ways to do that:

1. Put them on a committee– Okay I get that giving them more money or promotion to all is not a solution. But how about providing an opportunity to serve on a committee? How does this hurt an organization? Newsflash! It doesn’t. Instead, it engages workers and allows them the opportunity to feel like they’re participating in something. To feel like their opinions matter.

2. Exposure– Introduce them to people. They love this! At a time when they’re just beginning to build their networks, they really appreciate the opportunity to meet new people. My first manager introduced me to the international chapters as an incentive for my performance. Trust me I cherish this opportunity more than my promotion.

3. Take them with you to a meeting– How is this a bad thing? You know, there’s definitely value in having a fresh perspective. Chances are, these new employees haven’t been to many, and while most experienced workers dread going to these painful meetings, eager Millennials will love just being given the opportunity to learn.

4. Give them an important project– I honestly believe that the perfect kind of job for this generation is project management. Because they like to take ownership of their work, and they like to see that they’re capable of getting things done.

5. Teach them work you usually do– Why not? You know there have to be a million annoying things about your job that you wish someone could help you with. So delegate! But teach them at the same time. Give them some background. Help them understand the process. This way, they’ll feel that what they’re doing is meaningful. Plus, it’s work that you’re usually responsible for so they’ll understand that it’s important.

Believe me, your employees will certainly appreciate these efforts and they’ll be more likely to stay within your organization. But many employers don’t get this. So instead they have talented young workers frustrated beyond belief because they spend their time making copies, taking minutes, and perfecting the art of making coffee. These people leave.

Remember how LeBron James announced that he was going to be moving to the Heat? Yeah, that’s what these workers will do. They’ll take their talents elsewhere. They’ll take their talents to organizations that value them. So ACT before it’s too late.

#Millennials #EmployeeRetention #Opportunities #Exposure #Projects #Meetings #Committee #Drive #Ambition #Passion #Success