Although millennials do not exactly have a precise start and end date for their demographic cohort, the birth year is starting at the early 1980s and ending by the late 1990s and early 2000s. It has been an ever-growing problem for different companies to retain millennials, as they are more prone to changing their roles and industries rather than the non-millennials in the same situation. Here’s a piece on how companies can retain millennials:
Reward or praise?
The prize-giving system, albeit old, is still a very effective method of gaining someone’s attention. Just like children are promised candies or trips to Disneyland for their good deeds, millennials can also be treated with rewards, bonuses and awards for their deeds. This can increase their productivity and eagerness of staying in a single company, as they will feel that their talents are getting noticed.
Learn to cooperate the right way: fun!
While corporate retreats are very common in today’s world, it plays a vital role on retaining the vital attention of the millennials. Knowing the co-workers outside of their same old monotonous job helps to build a solid foundation for the company, and bridges the gap between the employers and the employees. It also breaks the shackles between the seniors and fresh employees.
Unity in Diversity
As of the world now, people are very sensitive about different cultures, races, genders etc. But at the same time, superstitions about different entities might be detrimental for any company. So, introducing various cultures, genders and races for jobs help the neglected ones become confident on themselves and this also creates a vital bond which eliminates all the superstitions and ill-thinking.
Timeout for a hangout!
Let’s be truthful, us millennials are a bit lazy. And it really does not help when companies have very minimal time to take rest on the contrary to the monotonous working hours. A pantry or a coffee corner should exist in all offices and companies as it is important for the employees to get the burden of their works and deadlines off their shoulders and be comfy for a while. This also can help on building relationships among the employees, where they can have discussions about not only works but also their personal lives. These spent times will act later as a trigger of emotional attachment to the people and the company to some extent, which will motivate the employees to go back for their jobs.
It is very important to retain the millennials, as they are the generation that is running the world right now. It is a failure for the companies if they are not being able to retain the millennials by the approached method. The millennials are always looking for something new, so the companies need to often try to motivate them so that they feel morally and mentally obligated to go back to the companies they were hired at the first place.
Akiff Islam, FutureLab CampusWriter