5 Reasons Millennials Really Quit Their Jobs (& How to Prevent Them)
As a small business, you know how imperative it is to attract the best talent. And if you’re savvy, you know that millennials — often reviled as entitled and lazy — are in fact creative, highly ambitious and committed to making the world a better place.
The problem? They’re notorious job-hoppers: 42 percent change jobs every one to three years. Read on to find out why millennials are so hard to hang on to and what you can do to keep them on board.
1. They’re Still Figuring Out What They Want to Do
Partly due to a higher education system that’s not career focused, many millennials leave college unsure of what career to pursue. As a result, they job hop in search of a fulfilling career that makes use of their talents.
To combat this, help them figure out what they want to do WITHIN your company, not elsewhere, by encouraging lateral movement. Maybe you have a millennial employee who’s an account manager, but you notice she’s an excellent writer. Let her shadow a copywriter and make the switch.
2. They’re Unstimulated
While millennials are often unfairly labeled as lazy, in reality, many are workaholics. A major reason millennials leave their jobs is because they don’t feel challenged by the work they’re given. One solution? Give them more work, not less. Millennials are driven by a desire to succeed, and you’ll get the best work out of them if you give them a chance to wow you with how much they can accomplish.
3. They Don’t Feel Recognized
Many complain that millennials need constant praise, when what they really want from employers is regular feedback. Assign them a mentor who can give them advice, criticism and positive reinforcement (when appropriate). Don’t forget: The chronically overworked and underpaid generation wants their work to be recognized with adequate pay.
4. They Want to Make a Difference
A whopping 85 percent of millennials value work that gives back to the community. If your company isn’t a nonprofit that helps the world in an overt way, find ways to help your activist generation employees feel that their work matters. Even better? Let them organize a company-wide volunteer effort.
5. Your Ping-Pong Table Isn’t Cutting It
When people think of what makes millennials happy in the workplace, they tend to think of kegs in the office, table tennis tournaments and unlimited free snacks. While these are fun, try implementing perks that truly add value to millennial’s lives: programs such as student loan forgiveness, company-financed higher education opportunities and quality health insurance.
When you make millennials happy, you’ll find they’ll become loyal employees who work tirelessly to make your company the best it can be.