Yes, it’s true. Millennials don’t hang around at companies as long as other generations do. Our research shows it, as do many other studies. A quick Google search on the topic yields plenty of findings that confirm conventional wisdom. So companies are faced with a choice: accept the inevitability of brief Millennial tenures or think of ways to hold on to some of those Gen Ys – maybe the extra special, overachieving, high potentials. But how? From our interactions with Millennial candidates every day and what we have seen from our research, access to (and the lack of) training, development, and professional growth are drivers of Millennial on-the-job satisfaction (and leaving for greener pastures). Don’t just take our insight for it. A Millennial study by Vezier drills down into the whys of Gen Y mobility and their findings corroborate ours. Promotions and opportunities to learn new skills are crazy glue when it comes to making your company a sticky workplace.
It's all about the motivation
In our study, Millennials indicated that interesting work and projects rank third in keeping them happy at work (after compensation and non-traditional benefits like flexible schedules and remote work). Understanding the various paths their career can take is essential, as are titles and continually improving competency. They are highly motivated to keep their skills and experience in tip-top shape and will see to taking care of this themselves if their company doesn’t do it for them. Only half of the Gen Ys in our latest study felt their companies were providing the right level of training or were preparing them for the next step in their career path.
Training for the long haul
These findings suggest that shoring up the approach to training, development, and growth is a significant opportunity for companies who are looking to attract and retain top Millennial talent. Although this demographic indicated that they prefer to work for an exciting start-up over a big, well-known company, even the most traditional firms will be legitimate employment contenders if they can credibly demonstrate career paths that come with plenty of learning and opportunities for rapid ascension or resume-building lateral moves.
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