Young millennials are the fastest growing demographic to join the job network, and roughly two-thirds of the workforce comes from this generation. Keeping this in perspective, how can we as leaders challenge ourselves to inspire more inclusion in the workplace and keep our employees actively engaged? Studies show that it’s no secret: Millennials are job hoppers. A 2016 Jobvite survey of 2,305 Americans found that while only 18 percent of the total workforce changes jobs every one-to three-years, 42 percent of millennials do.
Company Culture and Employee Retention
While employee retention can be a nightmare, there are ways to mitigate this turnover by promoting workplace tribes and inclusion. Millennials place a high value on workplace culture, and they stay longer as a result. The 2016 Deloitte Millennials Survey said those staying in their organizations for at least five years are more likely to report a positive culture than others.
The question now to is.. how do we create a positive culture that Millennials can value? What are the most important components of a positive culture that will attract and retain talent over the long run? Companies like Facebook, Google, and Linkedin promote incredible benefits that appeal to millennials like top class food and health programs, travel benefits and career advancement. In addition, they understand that it’s not just about the external benefits, Millennials also need to feel like they are giving back and doing something positive for the world, so businesses like the Honest Company encourage health and wellness activities and programs that give back to the environment and community.
By following these examples and taking into account the diverse needs that millennials have to enjoy their workplace and to be able to flourish as individuals, we can provide incentives and create a workplace culture that will not only attract the best talent, but keep it too.
About the Author
Vanessa Shaw has spent the last 15 years of her career working on culture. Vanessa believes that culture is something we can all take ownership of, and everyone deserves to have a workplace experience they love.
Throughout her career, whether it’s delivering a workshop, guiding a team through culture change, or presenting as a keynote, her goal is always the same; to inspire pros to take action. Building Culture Summit is how Vanessa and co-founder Hung Pham we are taking action, and their goal is to inspire and empower you to do the same.