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September 18, 2019 Why do young workers quit? (And how to retain them)

via Pixabay

I often hear people complaining about the “new generation” of workers as being disloyal to the company. They change jobs like gym shorts, and can’t commit to a single business for more than a few years. While that may be true, have you ever stopped to think about WHY that’s the case?

1. Stagnant Wages

For many young and not-so-young (the oldest Millennials are approaching 40 now) people, the workplace landscape is MUCH different than it was when Boomers and Gen Xers began their careers. Wages have stagnated and benefits aren’t what they used to be. In many cases, the only way to get a raise is to negotiate one by switching jobs.

Solution?

Make sure your business is competitive. Offer fair wages, and regularly give raises to account for cost-of-living increases. In addition, make sure your list of benefits is attractive and competitive in the industry.

2. Boredom

“But what about their short attention spans!?” you might say. “We can’t seem to capture their interest.”

Sure, job boredom may play a role in Millennial job-hopping, but this is often a preventable woe. If more than one or two of your staff seem bored or distracted, it’s probable that there’s something systemic going on. It may be that…

  1. They are not well-suited for their role
  2. They are so efficient that they complete their workload much faster than previous generations of workers
  3. They have checked out because they feel like they don’t fit in in the workplace
  4. They have checked out because they don’t think they have a voice

Solution?

In all these scenarios, communication can help prevent boredom. Regularly check in with your staff and make sure they are feeling engaged and supported. Give them the space to express how they are feeling and vocalize what they’d like to see changed. Then, work with them to strategize ways to make positive changes.

If your young workers are checking out because they feel like they don’t fit in, counter that by encouraging team-building workshops (consider Insights Discovery as a starting point), after-work outings, or collaborative projects. Pay attention and make sure your seasoned workers are giving the newer workers a voice.

3. Lack of Freedom

Nobody likes it when others look over their shoulders to supervise their work. It conjures images of elementary school, when teachers had to keep a classroom of rambunctious youngsters in line in addition to teaching multiplication tables. Such treatment in the workplace could induce anxiety and the feeling of being hemmed in. No one works well under that kind of pressure.

Solution?

Your staff are not elementary children and should not be treated as such. It’s a good idea to demonstrate trust in your team by giving them a long leash when it comes to projects, minimizing your involvement, and being open to different styles of working and different solutions.

Another thing: consider allowing your staff to occasionally work from home. We live in a time where technology enables many people to work remotely on at least some of their projects. As long as the work is being done, who cares if they work in their pajamas?

If you have a retention problem, ask yourself if any (or all!) of these three factors are coming into play, and then DO something! I’m here to help.

MARGARET SMITH IS A CAREER COACH, AUTHOR, INSIGHTS® DISCOVERY (AND DEEPER DISCOVERY) LICENSED PRACTITIONER, AND FOUNDER OF UXL. SHE HOSTS WORKSHOPS FOR PEOPLE WHO NEED CAREER OR PERSONAL GUIDANCE. 
NOW LIVE: CHECK OUT MARGARET’S NEW ONLINE LEADERSHIP COURSE.

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February 18, 2015 Millennials and Loyalty

Let’s talk about a touchy subject: Millennials and loyalty. At first glance, the Millennial generation seems to be comprised of disloyal job-hoppers. Statistics show (according to “Multiple Generations @ Work”) that a staggering 91% of Millennials expect to stay in a job for less than three years. Such high turnover can be tough for companies and cripplingly expensive. In fact, close to 90% of the firms surveyed (according to an article from MainStreet.com) reported that the cost of replacing a Millennial employee was anywhere from $15,000 to $25,000.

These numbers seem overwhelmingly negative, but let’s take a step back and look at Millennials and loyalty from a larger scope.

First of all, consider the context. Millennials have entered the workforce during one of the worst economic periods in history. Companies are downsizing, outsourcing, and slashing salaries in an attempt to stay afloat. And even though cost-of-living and college tuition are increasing dramatically, paychecks are not. Says Rich Milgram, Beyond.com‘s founder and chief executive, “Younger job seekers don’t have it easy in the current economy and they’ve been put in a hole by the generations that have gone before them.” Oftentimes, Millennials practice strategic job-hopping because they know they could be let go at any time. It’s a defensive move and gives them a sense of security if they feel their current position is in danger of being snipped.

Secondly, Millennials’ definition of loyalty is often different from other generations. Consider this statistic for a moment from Philly.com:

More than eight in ten young workers (Millennials, aged 19-26) say they are loyal to their employers. But only one in 100 human resource professionals believe that these young workers are loyal.

Why the huge difference in perspectives? Many believe it has to do with the way Millennials think about loyalty. Many members of this generation do not necessarily pledge themselves to a company, but to a boss or co-workers. Cam Marston, author of “Motivating the ‘What’s In It For Me’ Workforce” says, “Effective bosses are the number one reason why Millennials stay at a job…They have great respect for leaders and loyalty, but they don’t respect authority ‘just because.’ This is why it’s so important to have exceptional leaders at companies to retain these younger workers. They don’t want someone who micromanages and thinks of them as just another worker. They want someone who inspires them to stay at a company.”

Another attribute that keeps Millennials loyal? Workplace atmosphere. A 2012 survey by Net Impact found that 88% of workers considered “positive culture” important or essential to their dream job, and 86% said the same for work they found “interesting.” Additionally, the same Net Impact survey found that 58% of respondents said they would take a 15% pay cut in order to work for an organization “with values like my own,” demonstrating that Millennials are not just content with “any old job,” but seek meaning in the work that they do.

The issue of Millennials and loyalty is a tricky one, but one thing is certain: We cannot just write-off this generation as disloyal and wishy-washy. With the right workplace atmosphere, excellent leadership, and by providing the right set of motivation tools (as mentioned in last week’s post), Millennials will stick around and perform the kind of innovative, creative work that they’re known for.

If you (or your company) needs help creating the right conditions for your Millennial workforce, contact me to discuss potential strategies.

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