10 Ways to Retain Younger Employees
First it was Millennials, now it’s Gen-Z. The workforce is changing and has been changing for quite some time. With the dawn of a new generation emerging, it’s important to adapt. Change as the market changes. Change as the trends change. And, most importantly, change as the generations working at your company change. You can’t expect things to stay the same for years and years - The business world evolves a bit more each day due to certain factors which vary annually. Additionally, the changing of generations and their trends, ideals, morals, and expectations tend to cause the most commotion. If you’re in a position to hire, and are considering hiring a few “green” employees, it’s in your best interest, for retention rates, to consider these 10 ways to keep those younger employees working for you.
Lately, there’s been a stigma in the professional world to label both Millennials and “Gen-Zers” as job-hoppers. The consensus on what makes a job-hopper is unclear, however, no matter which way you spin it - Job-Hopping is something to be avoided. Check out a few stats from muse.com on the topic of job-hopping:
13% of Millennials believe workers should stay in a job for at least 5 years while 41% of Baby Boomers believe this.
26% of Millennials believe that workers should only be expected to stay in a job for 1 year or less before looking for a new position.
51% of participants believe that someone is a job-hopper when they change jobs once a year while other participants (the remaining 34%) believe a job-hopper is someone who changes jobs once every 2 years.
From 2002 to 2014, the number of people who believe job-hopping is damaging to careers rose from 47% to 62%.
Okay, so now that you’re a bit more familiar with the topic of job-hopping, let’s talk about Millennials and Gen-Zers as job-hoppers. In a recent blog and LinkedIn thread by HRDive, the topic of job-hopping emerged (which semi-inspired the topic of this blog). If you missed it, the title was “Millennials, Gen-Z are Ditching the Job-Hopping Label”. The blog basically discusses, in brief, the myth that Gen-Zers are job-hoppers due to their jobs being a part of their personal identity or look forward to many more years with said company. Now, because this is a blog topic or trend, or even if it’s the truth - The younger business world is still more likely to hop around a bit in their early years of work to find themselves, find that great career, or for other, more personal reasons. Because of this, it’s important, when hiring a younger group, to keep these 10 tips in mind...
Recognize Outstanding Performance- Listen, no matter your age or generation, everyone wants the recognition they deserve. However, this is especially true for the younger crowd. They want and need positive affirmations to see that their work is great, they’re on track, and that they’re a valuable asset to the company. This is not a bad habit to start! It’s not tough to start implementing more recognition in the workplace...And it’s free!
Develop Employee Retention Strategy- Retention rates matter… a lot. No one wants to see that a company has a horrible retention rate and high turnover rate. Nothing says: “This is a great place to work” like employees with 10+ years under their belt at your company. For ideas on how to implement a retention strategy, visit this blog by Slack.
Focus on the Future- Everyone, not just Gen-Zers want that job security and the chance to move up in their career. When you design and market your positions, it’s important to consider the potential for growth. For example, if the position you’re marketing for is in marketing and there is a potential for that position to lead to a more director-based position...mention it! Tell the candidate there’s great potential here for you to move up, grow, and learn. Make your company future-focused. Don’t limit them to one job, one position, one task, or one mindset. Allow for growth, change, and possibility.
Clear, Concise, & Consistent Communication- This is crucial. Gen Zers (and everyone else) needs communication, it’s important for a person’s mental health, task-list, success, and effectiveness if everyone is on the same page. There’s no such thing as “over-communicating”...I mean...there is, but better that than under-communicating! Every week make your needs and the responsibilities of those under you clear. Tell them what needs to get done, tell them your expectations for how it’s done, and allow them to ask questions for clarification, too. Then, it’s off to the races.
Listen to their Needs- This is communication's sister: listening. Communicating does not work effectively if one does not listen. As someone in a command role or someone with subordinates, it’s important that you offer a space where one feels comfortable enough to discuss their wants and needs with you. Once that trust is established, then you listen. And you listen with intention...to understand. Don’t just nod, thinking about other things, dedicate time. It’s important that your employees...especially the younger ones are heard too.
Don’t Micromanage- This is tough for some people in positions of power. It’s hard not to micromanage people that work for you, especially if they’re lacking experience. However, you have to let those working for you make mistakes. Expect them to happen. When you micromanage someone, you don’t allow them to be independent or try new things. It also makes them feel inadequate or incapable of doing the job that YOU hired them to perform.
Positive Culture- This is something we’ve spoken on so many times. The younger generations are going to be looking for things such as employee benefits, remote days, bonuses, PTO, employee engagement, positivity, etc. Check out these blogs from us to read more on culture: 7 Reasons Why Office Culture is so Important and The Best HR Trends of 2019.
Leverage Technology- These days, anyone born after 1990 is technologically savvy. Let’s be real. They’re looking for the latest technology at the office whether it be Apple products, softwares, company phones, cars, or anything else under the sun. So, budget permitting of course, if you have the money, invest in technology for your employees. Raise the bar for them, make them feel appreciated, and then, once you’ve updated, leverage that to incoming hires.
Encourage Collaboration- According to another blog from medium.com, millennials and gen-zers want collaboration. “Millennials want to be part of a team when working on projects. They want to work at places where they can collaborate with their colleagues and superiors using technology. A Microsoft survey found that collaboration is a primary driver for where Millennials seek employment. “Their rallying cry is ‘a win for one is a win for the team,’” according to David Stillman, a consultant and co-author of The M-Factor: How the Millennial Generation Is Rocking the Workplace.” All this to say, promote collaboration amongst employees and teams. For example, allow sales and recruiting to collaborate or HR and marketing...Let those teams that don’t interact much get the chance to spend time together.
Instill a Purpose- It doesn’t matter who you are, everyone wants to feel as though they have a purpose and are needed. Establish this purpose in your younger generation of hires.Make them feel wanted, needed, and a part of the team. They matter and so does their job...So tell them that!
Whether you’re hiring a younger person or a more experienced professional...it’s safe to say these values hold true to both of you. However, it’s important to take them into consideration and move your company in the right direction.