5 Ways to Retain Millennials in Your Company
There has been a tendency for millennials to move from one company to another at a faster rate compared to previous generations like Generation X. Some HR professionals have regarded millennials as lacking commitment and only seeking instant gratification. However, companies need to understand the factors that force millennials to jump ship in order to institute plans to retain them.
Here are the 5 ways you can use to retain millennials in your company. These findings are supported by the White Paper on Keeping Millennials Productive conducted and prepared by msesetz.com
1. Allow Flexible Working Hours
49.8 per cent of Tanzanian millennials likes to work in a company that has flexible working hours. Millennials favor flexible work hours because it enables work-life balance. It also fosters a better quality of life as well as mental and physical wellness. Flexible working hours can increase productivity and creativity in the workplace.
2. Have Strong Relatable Company Value
36.1 per cent of Tanzanian Millennials prefers to work with a company whose core values appeal to them on a social and emotional level. Company values like integrity, boldness, passion, trust, fun, accountability, etc., create fairness and unity within a company. Weak company values are unsatisfactory to Millennials and can be a source of turnover.The company values should not just be on paper but also plastered on office walls and continuously reiterated during town halls.
3. Rewards and Recognitions Culture
According to the white paper report, many millennials would like to work in a company where their work is valued and recognized. This environment inspires them to do more to push the Vision and Mission of the company.
A reward and recognition system in a workplace will not only show that the company appreciates the efforts of its millennials workforce but also values them because of their dedication and loyalty.
4. Career Development Opportunities
Millennials are likely to stay in a company that offers opportunities for growth. Workplaces that provide them with learning and development opportunities will not only motivate them to do more, it would also make them stay long with the company. So have opportunities like sponsorships for further studies, training programs, opportunities for short courses, etc.
5. Technological Workspace
According to the white paper report, 96% of Millennials would like to work in an environment that has an up to date technology. Computers, the internet, and tools like Slack and Trello are good when it comes to managing tasks. Companies should remember that technology increases productivity