5 Ways To Attract & Retain Millennials
Corporations are finding it challenging to attract and retain top talent in the long term with younger staff regarding work as a means to live – while their ‘baby boomer’ parents and grandparents were more inclined to put work above all else, this has been rejected by millennials.
The job-hopping statistic of millennials is enough to give employers a reason to question their reliability. Forbes stated that 60% of millennials are currently open to a new work opportunity and are by far the most likely generation to switch jobs. In 2016, 21% of millennials reported switching jobs in a year, against Gen X’s. Gallup says millennial job-hopping is costing US economy $30 billion a year.
Since 2016, the average age employee from the top tech companies were 27 to 39, which makes the majority of the workforce millennials, and it is the tech companies who are making the biggest changes to their workplaces and an active effort to develop their culture – changes that other organisations must also begin to implement.