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Most employers are struggling right now to keep employees longer than a few years. It seems that young kids just want to jump ship as soon as something better comes along instead of sticking with the job for 10 years. Every time someone quits, companies have to re-hire someone, and that can cost thousands of dollars. So, what can employers do to keep those young kids around?
Why do they leave
Millenials have no interest in loyalty. They don’t care if you have been giving them a paycheck for a year. If someone else offers something better, they will jump ship in a heartbeat. Their sense of loyalty is to themselves, and they will do whatever they can to get better. You need to make sure you are the company they want to jump ship to, not one they want to leave.
What do they want?
If there are just a few changes you can make to keep young people from leaving your company, what are they? Well, make it worth it for them to stay.
Play-time. According to Forbes, the number one thing young people are looking for in a job is flexibility. Give them a job where they can come in early and leave early or take a couple of days to go camping. They value playing more than working, so you may have to give more play time to keep them around.
At-home time. Another option for flexibility is to get freelancers or allow for telecommuting. Most Millenials dream of a job where they can stay at home and work in their pajamas. Even though it might not be the best for work ethic for an hourly employee or salaried employee, a contractor can do whatever they want. You don’t have to feel like you are paying them for nothing. If you want to pay hourly and don’t care what they do, as long as the work gets done, that will probably work well too. Some companies will even offer incentives such as working at home one day a week, which is often enough to keep kids interested.
Benefits. It seems like it might cost too much to offer benefits, but it is really important to make sure they are there. One of the companies I worked for didn’t offer health insurance because there were only a few employees, but they took everyone on a vacation once a year, which made up for it. If an employee feels like you care about them and want to offer incentives, they will have no reason to leave.
Promotions. Make sure there is opportunity to move up. If Millenials don’t feel like they are progressing, they will leave. Their patience is thin, and they want to feel like they are doing better, not just staying in one place.
If you can make just a few changes in your workplace and meet the needs of your employees, they may never leave, and you will never lose money.
Why do they leave
Millenials have no interest in loyalty. They don’t care if you have been giving them a paycheck for a year. If someone else offers something better, they will jump ship in a heartbeat. Their sense of loyalty is to themselves, and they will do whatever they can to get better. You need to make sure you are the company they want to jump ship to, not one they want to leave.
What do they want?
If there are just a few changes you can make to keep young people from leaving your company, what are they? Well, make it worth it for them to stay.
Play-time. According to Forbes, the number one thing young people are looking for in a job is flexibility. Give them a job where they can come in early and leave early or take a couple of days to go camping. They value playing more than working, so you may have to give more play time to keep them around.
At-home time. Another option for flexibility is to get freelancers or allow for telecommuting. Most Millenials dream of a job where they can stay at home and work in their pajamas. Even though it might not be the best for work ethic for an hourly employee or salaried employee, a contractor can do whatever they want. You don’t have to feel like you are paying them for nothing. If you want to pay hourly and don’t care what they do, as long as the work gets done, that will probably work well too. Some companies will even offer incentives such as working at home one day a week, which is often enough to keep kids interested.
Benefits. It seems like it might cost too much to offer benefits, but it is really important to make sure they are there. One of the companies I worked for didn’t offer health insurance because there were only a few employees, but they took everyone on a vacation once a year, which made up for it. If an employee feels like you care about them and want to offer incentives, they will have no reason to leave.
Promotions. Make sure there is opportunity to move up. If Millenials don’t feel like they are progressing, they will leave. Their patience is thin, and they want to feel like they are doing better, not just staying in one place.
If you can make just a few changes in your workplace and meet the needs of your employees, they may never leave, and you will never lose money.
