Talent retention is one of the biggest issues faced by firms that are expanding quickly. It's easy to neglect retention, so it's crucial to keep your existing workforce engaged while onboarding new ones. This is especially true of Gen Z and Millennial workers. These generations are more inclined to change jobs frequently, as the Great Resignation
has brought to light. As a business grows and changes, it is also important to have younger employees who are dedicated and skilled.
When it comes to retaining millennial and Gen Z employees, here are five elements to consider emphasizing in your organization.
1 Flexible Work
Remote work, flexibility, hybrid culture aren’t just buzzwords for millennials and Gen Zers, it’s what they expect and what makes them consider staying or quitting. The business case for providing more flexibility is that it helps organizations reduce costs incurred from absenteeism, workplace accidents, and employee attrition.
2 Access to Mentorship
A CNBC study revealed that 90% of employees with assigned mentors report that they are happy at their jobs. There’s no doubt that greater employee happiness
causes higher retention. Both Gen Z and millennials seek mentorship at work as it allows them to pursue their self-development goals. Since virtual mentorships are not limited by geography, more employees are able to connect with a wider range of mentors.
3 Diversity and Inclusion
Young employees value a diverse workforce, and diversity, inclusion, and equity are vital expectations to meet. It is one of the factors that help candidates choose their employers.
4 To Wrap It Up
While hiring newcomers, it's crucial for growing organizations to retain their employees
. Additionally, since they have a unique set of values and are willing to change employment, your youngest employees deserve special consideration. When engaging these employees and ensuring the long-term success of your firm, a flexible working style, mentoring programs, and an inclusive atmosphere are essential.