One of the greatest challenges organization’s face after attracting top millennial talent, is keeping them around. This generation is notorious for their tendency to be fickle when it comes to commitment, and companies are beginning to see the financial strain of this jump in turnover.
While it’s easy to simply shrug this off as a millennial trait, what many organizations may not recognize is that it can be prevented. When millennials feel appreciated at work, and when they're provided the right workplace technology, studies show these young employees are more likely to stay at their current position.
Porschia Parker is a millennial performance advisor, and has studied this topic extensively. We recently interviewed her during our last webinar, which you can listen to here. She also recently published a report highlighting the reasons many young employees pack their bags in search of a new employer.
“Millennials are a new breed of employees with their own distinct mindset. They are not overly trusting of companies, big business or the government [...] and have no problem quitting a job if they are not satisfied, even if they’ve been employed less than a year. The cost of replacing millennial employees is a huge issue today.”
One thing businesses can do to prevent this high turnover rate among top millennial talent? Providing them with what they're asking for. Now before you think we’re heading in the direction of suggesting you offer outrageous perks, let’s consider the one thing this group of individuals really needs to be effective employees. No, it’s not nap rooms or free snacks in the office kitchen (although those are nice). What your millennial talent really wants are valuable tools to do their job.
Providing your workforce with tools and applications they need shows you value them, which is one of the main items this group of talent is striving for at work. They want to know their position at the company matters, and they know this by how in tune their leaders are with providing an engaging, productive environment.
“Companies with management teams who do not have an effective communication style with millennial employees, tend to see high turnover rates within their organizations. They are not able to engage their top young talent, so their millennials quit,” said Parker.
It’s important to think about how this group of employees works best. If you have a college student still living at home, you probably can attest to the fact that your child does most things through their phone. They can chat with friends, order food and schedule a ride to someone’s house all from one device and all within a few minutes. It’s really quite incredible. The same can be said for this generation at work. Millennials want to be able to communicateefficiently, and expect to have access to platforms like Slack and interactive wayfinding tools to help them speak with or get to who and whatever they need right away. This generation can be highly productive when they have access to the apps they need to work in this way. And let’s be honest. It’s not just millennials who want these tools at the office. We all want valuable data, planning tools and contacts in our hands so they're ready when we need them. Millennials are just demanding that it become a workplace necessity, rather than a luxury.
By investing in modern workplace tools like iOFFICE’s latest employee engagement solution Hummingbird, your organization will be providing an environment for millennials and other generations to work efficiently in ways they already want to communicate. It’s an investment for the future of your organization, and will keep your workspace ahead in the chase for top talent.
Schedule a 15-minute demonstration of Hummingbird today to improve your employee experience and elevate your digit workplace for every generation of worker.