Many organisations are currently discussing the challenge of retaining millennials. Through my research on the generational mindset gap, it has become apparent that retaining their millennial workforce has been a struggle for organisations, and they have been exploring solutions to this issue. In today’s job market, millennials are often known for their tendency to switch jobs frequently. To keep these valuable team members engaged and committed to your company, it is crucial to consider their psychological contract with your organisation.
First, let’s examine the reality of this issue before exploring it further. According to recent statistics, the millennial age group has a high attrition rate. In fact, millennials change jobs three times more often than previous generations.
Recent stats illustrate the high attrition rate in the millennial age bracket – in fact, millennial change jobs 3 times more than previous generations:
“The millennial generation reveals that 21% of millennials say they’ve changed jobs within the past year, which is more than three times the number of non-millennials who report the same.” (Ref: Gallup Feb 2023)
Millennials are being referred to as the job-hopping generation, and the research from Gallup outlines that:
💡 Demographic INSIGHTS 💡
- Millennials are the most likely generation to switch jobs
- Six in 10 millennials are open to new job opportunities
- Millennials are the least engaged generation in the workplace
(Ref: Gallup Business Journal Amy Adkins 2023)
This research raises challenging concerns for organisations attempting to keep millennials on board and prompts the question of how to enhance the connection between this generation and the organisation.
How can better conversations create a stronger psychological contract between Millennials and the organisation?
How can we have better trust to enhance the relationship between the generations so that we are not losing our millennials and, conversely focusing on how we are attracting them.
Onboarding
At the start of a new journey, it’s essential for a new employee to feel welcomed and valued in the organisation. Millennials are perceptive, so it’s important to avoid superficial gestures and instead assign a trusted team member to onboard each new recruit in a way that emphasises their importance. Creating a positive first impression is crucial for retaining employees in the long term.
Mentors
Having a mentor is becoming increasingly important for employees. Whether they find a mentor on their own or through an official mentoring policy within the company, a mentor can provide guidance on the company’s protocols and help them navigate their career path. For millennials, an official mentoring program is particularly appealing, and a strong mentorship can deepen their connection to the organisation.
Communication
In any successful company dynamic, open communication plays a crucial role. It is especially important to encourage collaboration among Millennials, who prefer a coaching-style approach to their work. Open communication is a vital aspect of this approach. The outdated management style of commanding and controlling employees to do “as I say” does not work for this open-minded and collaborative workforce.
Valued
Millennials place high value on feeling appreciated for their contributions at work. A sense of personal satisfaction from a job well done is important, along with external recognition that can boost team morale and create stronger connections.
Visibility
In today’s modern working world, it may be challenging to implement an open-door policy. Therefore, managers and leaders need to discover other methods to remain visible and approachable to their staff. I have collaborated with numerous organizations that have devised creative and unexpected ways to achieve this. Please feel free to contact me if you would like to explore this further.
Agency
t’s important for individuals to have personal agency in their roles. Taking ownership of their goals in both their personal and professional lives can increase motivation and engagement. When managers delegate tasks without discussing the bigger picture or allowing team members to find the best approach that works for them and their team, it can lead to a lack of agency and disinterest!
Transparency
Through my work experience, I have observed that many managers struggle to define transparency. Simply admitting that one is feeling stressed and must complete the work at all costs does not constitute transparency. From my perspective, transparency involves being vulnerable enough to ask for suggestions on how to proceed and what steps can be taken. What is your view on this matter? By posing such questions, transparency and collaboration will be enhanced.
The cultural changes brought about by Millennials have greatly impacted the way the workplace operates. As a result, this generation has a tendency to switch jobs frequently if they are not satisfied with their current position.
The keynotes and facilitated training I have been running begin the process of bridging the communication gap and allowing for a more open dialogue to reduce millennial attrition.
💡 INDUSTRY INSIGHT 💡
According to a Gallup report on the millennial generation, 21% of millennials surveyed report changing jobs within the past year – more than three times the rate of other generations
Gallup Feb 2023
The solution is in the Psychological Contract
To enhance the employment relationship with Millennials, it’s crucial to comprehend their expectations, beliefs, ambitions, and obligations from both the employer’s and the Millennial worker’s perspectives. I’ve provided several ways above to foster a better work environment, which will lead to a profound collaboration resulting in the development of a psychological contract between the individual and your organisation.
A psychological contract entails not only the working contract but also the psychological aspect. By strengthening these bonds, there will be a deeper connection and understanding between the Millennial employee and employer.
Retain Millennials in the workplace
Offer opportunities for growth and development
Millennials value opportunities for continuous learning and personal growth. Provide regular feedback, coaching, and training to help them develop their skills and advance their careers within your organization.
Create a positive work environment
Positive work culture is crucial for retaining millennials. Encourage collaboration, foster a sense of community, and promote work-life balance to help your employees feel valued and supported.
Provide flexibility
Millennials value flexibility in their work arrangements. Consider offering options for remote work, flexible schedules, or other alternative work arrangements to help them achieve a better work-life balance.By taking these steps, you can create a workplace that is attractive to the job-hopping millennial generation and build a team of committed and engaged employees.
Closing the Generational Mindset Gap
This is why I’ve created my impactful and successful signature talk which provides generational awareness and education about where these problems have arisen
As well as the solutions to close the generational mindset gap and decrease workplace presenteeism, and increase positivity and harmony which will mean longevity for the business.
In my talk, I provide insights on:
🤔The differences between all generations in the workplace and the problems that this is creating in your organisation.
🤔 Explore the impact these differences have in the workplace and how we switch these to your advantage.
🤔 Introduce 5 myths that currently exist in areas such as generational work ethic, use of workplace power and generational communication differences and the potential damage these myths are causing.
🤔 Bust the myths giving a deeper more analytical view of what is really happening!
🤔 Provide solutions in the 5 key areas that leaders and employees can embrace within all organisations to achieve psychological safety and candour because the best way for the team to win is when everybody gives their opinion and be ready to debate.
This signature talk is part of a wider offering including programmes that dive into the nub of the issues with practical techniques for workplace transformation.
If you are experiencing these challenges within your organisation currently (or know someone that does) I’d love to chat with you about how I can support you.
Book a call here or hit reply and let’s talk!
This signature talk is part of a wider offering including programmes that dive into the nub of the issues with practical techniques for workplace transformation.
If you are experiencing these challenges within your organisation currently (or know someone that does) I’d love to chat with you about how I can support you.
Next steps
To support organisations that are experiencing these generational challenges within your organisation currently (or know someone that does) I’d love to chat with you about how I can support you and create a resilient workforce that can bounce back and learn from these difficult conversations.
Training and facilitations that include a personalised approach and facilitated group coaching sessions that develop personal and professional growth for employees will create a strong proactive, response to generational conflict
International Author + Accredited Resilience Trainer + Accredited ICF Coach
Blog | Whitepaper | LinkedIn | Work together in Q2 2023
In terms of the types of generational conflict training programmes I can offer these include:
- Leadership coaching for your leadership teams to avoid conflict
- Resilience Programmes so that employees and teams bounce back from difficult work periods and improve communication between teams.
- Live or virtual training with follow-up group coaching sessions to embed training and encourage behavioural change.
- E-learning courses for your LMS system.
If you are interested in supporting your team’s resilience with bespoke Generational Awareness & Education and the solutions to close the generational mindset gap
Then reach out so and book a quick call so that we can identify the needs of your team and what will work for them and your business.
Book a call here or hit reply and let’s talk!
If your organisation is looking to incorporate Generational Awareness & Education and the solutions to close the generational mindset gap please email me to discuss your organisational requirements or book an appointment straight in my diary
Leadership Development Support:
Burnout is a real issue when leaders try to cope with and are everything to everyone. The strain can be too much if leaders feel that their role is the crucial pin holding the team and the organisation together.
If as a team leader, you feel overwhelmed, a one-to-one professional coaching session will help give you the time out, perspective and clarity you need so that you can operate at a level your team needs.
Book an introductory session with me. As a professionally accredited ICF coach, I’ve worked with hundreds of leaders so that they reach their optimum levels of performance.
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