It’s Monday morning and Jenny comes to work; she walks into her manager’s office and hands over a resignation letter. The Manager sighs and thinks “Millennials! They don’t get it and they jump ship the moment something isn’t perfect”. Jenny tells her manager “sorry, I have to leave, it’s not the company, it’s me, I need more”. In the end she leaves, but the company needs to realize, it is them, and not Jenny.
In 2020 Millennials will be 46% of the workforce. Successful companies who are making things happen are filled with millennials who are killing it, yet many organizations have issues attracting and retaining top millennial talent.
So, what’s the problem? Why are companies failing? “These young employees have no commitment, spend there days on their phone, want to come and go as they like and need everything handed to them”. With this attitude they are off on the wrong foot. With that underlying negative stereotyping it’s never going to work.
Here are some reasons millennials jump ship early
1. Frustrations with Employees not Pulling Their Weight
You hired a go-getter and across from them sits a slacker that doesn’t step up and management does nothing about it. Very quickly this person is losing respect and will leave. In the end you lose productive employees and end up with a room full of slackers who accept the status quo.
2. Not Making a Difference
This high-spirited person wants to come to work, contribute and do what they do best. Instead they are bombarded with financial numbers, profits and growth plans to knock out the competitors. This is all good to some extent but you need to focus on the purpose and the why. How are you solving problems and making a difference? Why are you in business? Make sure you and your employees know or else its just a job.
3. Lack of Culture
Culture is not a ping pong table for a boardroom or free pizzas on Fridays. Create a culture that has purpose and values. Ensure its motivational and inspiring to your employees. You also need to live those values and not just say them. Perks are one thing and can support culture and values but its not the end game.
4. Lack of Respect
Remember those negative stereotypes from above? That creates disrespect and leads to an impersonal experience. Start embracing diversity and what millennials can offer. If you don’t see the value and you treat them like a number you will get the same in return.
If you are a company that lacks purpose you will struggle. The difference today versus 15 years ago is employees demand to know the purpose and the why. If they understand it and support it, they will stick with the job. If they don’t get it, they have no fear, guilt or obligation to stay. That’s why you can’t keep a millennial employee hired for more then 6 months.