A third of the African population is made up of Millennials and they will soon overtake baby boomers as the largest segment in the workplace. Studies have shown that Millennials are not loyal to one employer and are likely to leave their job just after 2 years of employment. Two years! This begs the question, “how best can organisations keep their millennial employees?”
The Benefits package is a crucial consideration in attracting, recruiting and retaining Millennial employees. It is increasingly important for organisations to know what kind of benefits and corporate culture millennials find attractive.
Workplace Flexibility – Millennials have strong opinions about the workplace and they prefer to have more choices about where and when they work. They do not want to feel as though they are choosing between having a life and a job. Mercer’s 2017 Global Talent Trends Study found that flexibility was top of the list when people were asked what they wanted more of at work. Organisations with policies such as Work from Home Days, Flexible Leave, and Paid Leave support the increasing demand for flexibility among young workers.
Opportunities for Advancement and Technology – Advancement is a key factor millennials consider when seeking employment. Organisations with a culture of learning and improvement are likely to attract and retain highly motivated individuals whose levels of engagement are dependent on advancement opportunities. It is also crucial to tap into the technology that is available to help millennial employees advance their careers through Mentorship Programs, Paid Training Sessions, Online Courses and Webinars.
Making a Real Difference – Millennials are more aware of the world around them and they want to make a difference in it. Providing employees with opportunities to donate their time and energy to worthy causes will show that your organisation cares about the world and the community, inspiring millennials to remain at your company for longer, reducing employee turnover and attrition.
The workplace is increasingly dynamic and strategies for attracting and maintaining young talent will continue to grow and change. As an organisation, recognising and accommodating these changes will see higher Millennial engagement and satisfaction.