The statistics show a trend that needs to be addressed ASAP among businesses and organizations everwhere, and it is that Generation Y, or Millennial employees, will statistically change jobs and industries an average of 15 times in their lifetimes (Dan Schawbel, St. Martin's Press, 2012). As a result, companies have to figure out a way to retain these employees who, due to the constant switching, end up costing corporations a lot of money in both productivity and training of new employees. According to Schawbel, if the industries were stronger, more culture-oriented, had the best benefits packages, and had a clear and attainable goal based on quality, those Millennials would not be leaving so much and will end up building solid and loyal careers with the organization.
Millennials are also a different breed of employee: The majority may be single, still living at home with the parents (or returning to the next), and they come from a much less authoritative upbringing than Gen X employees. They do not hold true to solid binds of loyalty that older employees feel that they need to follow. In fact, Millennials may actually stay in a company that feels more like home, rather than a job. Why? Because they are a generation that was able to become gratified instantly as children due to the advances in technology, medicine and the economy. They are not employees who believe in working harder: They believe in working smarter.
This being said, these are things to consider:
- Train Millennial learners on basic skills that they may not be trained for in other companies: problem solving, mediation, personal communication, self-branding, how to overcome shyness, etc. Social skills are never taught as part of trainings. When you offer them, you are immediately hooking new employees for good, as you are giving them the keys to work comfortably in your company.
- Offer strategic compensation training: This includes working extra for perks; how to obtain perks for productivity, and be sure that they understand that their hard work will be compensated.
- Other development needs include: a) how to budget, b) ethical behavior at work, c) appropriate dress codes, d) confidential reporting (whistle-blowing when someone is stealing or not abiding by company policy), sexual harassment prevention, multicultural tolerance
- Troubleshooting technology (the more employees know, the less outside help you need to hire)
One has to prevent and plan for any mistake, problem, and misunderstanding and avert it through training. Providing the training saves the employer from being held accountable of not assessing needs ahead of time. Taking the training educates the employees. Providing training makes it more likely for employees to remain at the job, especially those like Millennials who tend to shift. It is all a strategy to build a stronger, more loyal, and more educated personnel that will not fail the mission of your organization.
Look for reference to the book: Promote Yourself: The New Rules for Career Success by Dan Schawbel
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