56% of Millennials surveyed felt they could “rise to the top” with their current employer.*
Millennials are filled with optimism and ambition, but they also have high expectations. Is there a path to the top? What help will I get along the way? How will I be measured? How long will it take to get there? Disappointment and frustration is inevitable, but it can be mitigated. Great leaders already know how to manage expectations, reward achievement and provide a clear path forward through their organization for top talent. The value of all these is amplified given today’s workforce.
A vision of their future is key to Millennials.
According to one survey, one in five Millennials said they were already unhappy with the opportunities for advancement at their current organizations* and according to another, two in three Millennials expect to leave their organization by 2020**. To retain talent, companies must provide a clear path through their organization that employees can easily see and know how to work toward.
Set them free.
One way you can keep Millennials more engaged and committed to your company long term is by giving them opportunities to stretch their skills. Assigning projects that draw on their existing strengths, but require them to reach outside their comfort zone will show you value their development. Allowing them to set their own deadlines and work schedule to get the work done will demonstrate you trust them.
The work environment today is important for retention, too.
A millennial-friendly environment needs to be comfortable and creative. While they work hard, Millennials want to do it in places with engaging and stimulating atmospheres that include room for work and personal life. The good news is that these environments aren’t just good for retaining Millennials, they’re good for everyone — engaged employees are more productive.
* Millennials at work: Reshaping the workplace. PwC 2011
** Millennials continue to rise up the ranks peoplehr.com 2016