Visit us at: www.fplpartners.com

November 2017

3 Tips For Retaining Millennials At Your Company

3 Tips For Retaining Millennials At Your Company

In 2015, the Millennial generation became the largest in the American workforce. They're poised to take over for the Baby Boomers, who are on their way to retirement. This group of people is essential to the continued growth and success of any company

But according to a 2016 Gallup poll, they're also the "Job Hopping Generation," with six in 10 being open to a new job at any given moment. That means that keeping them around can be hard. Many employers don't understand this generation or how to appeal to them.

So to help your human resources department avoid total restructuring every time a bunch of millennial employees leave, or to help your outplacement company be more efficient at finding potential employees, here are three tips to keeping them around:

1. Look Beyond the Resume
Millennials are very multi-talented and can likely do a lot more than what they can express on a resume. A candidate might have majored in engineering and interned at a company for it, but they also might have taught themselves HTML and CSS. They could also have an industry blog or be a self-employed graphic designer. So while an applicant might not seem very qualified at first glance because their resume is lacking, they might actually be the person you're looking for. They might have all the skills you need from an employee and a passion for your style of work.

2. Keep an Open Mind
Job hopping might not be the most telling sign of a good employee, but you should keep an open mind when an outplacement company suggests a candidate or a resume comes across your desk. Salary-motivated workers are likely to go where they can get the most out of their work, which can drive many employees to look for better opportunities. Millennials often take on more than they're supposed to in their roles and they want to be recognized for that. If they feel their work is not being recognized and there's no opportunity for advancement, they quickly will move on. Make sure to recognize your employees for their achievements and don't judge a candidate too harshly on how many companies they've worked for.

3. Remember Their Needs
Your needs are important and outplacement services know that. But you have to remember that the needs of the employee also matter. Many write millennials off as being entitled because they want higher salaries, but they also face additional challenges. They have student loan debt, the largest in any generation, and that eats up a lot of their income.They need more money to get married, afford a home, own a car, and every other milestone. By understanding them and their needs, you can work with them to find a way to keep them on board.

No matter if you're working with an outplacement company or are just accepting open applications, keep these three things in mind when you're working with millennials. Keeping these workers around is important for the survival of your company.