7 secrets to retaining young talent in your organisation
Any organisation that is lucky to have hired young and productive employees knows the value that comes with such a talent pool. With this age of modern technology where innovation is vital for any organisation’s survival, a pool of young professionals is most valuable. However, young talent can be difficult to retain and generally speaking tend to be looking for bigger and better challenges in the corporate world. That’s why we have compiled the 7 secrets to maintaining young talent in your organisation:
1. Create a challenging work environment
According to Forbes, 64% of millennials say work is an opportunity for them to make a difference. When not challenged enough, they feel underutilised and will seek the next challenging job where they feel they will make an impact. Organisations are therefore encouraged to create a work environment that challenges these individuals as well as make them feel they are making a difference in the world.
2. Be loyal and genuine
To expect loyalty from millennials means that you have to be loyal too. This generation expects that you offer frequent feedback, let them know when they are doing well, be genuine about what they need to work on and keep the conversations open. Creating an open working environment also implies that you care about them enough to inform them of the organisation’s activities and seek their feedback.
3. Allow them to be creative
The current business environment requires constant innovation. Since innovation comes from creativity, it is important to create an environment that allows for creativity. Organisations such as Google make ‘creative time’ such that employees are allowed 20% of their work time to be spent working on their ideas. Organisations can adopt similar strategies or have flexible work schedules since rigid structures can stifle creativity.
4. Find the motivating factors
While your experience in motivating employees may be derived from Maslow’s hierarchy and Herzberg theory, motivating young employees calls for you to think outside the box. It is important that you study them first and determine the best way to motivate them that will eventually lead to retention. There are assessment tools such as DISC profiles which have been proven to be quite useful for this purpose. Many of our clients work with us to organise these types of assessments for their teams.
5. Provide growth and development opportunities
Young employees are curious and hungry for information and development. One way to retain their talent is through creating training and development opportunities whereby they get a chance to better their skills and knowledge.
6. Work-life balance
A PwC study found out that younger generations put more weight on their personal needs than those of the organisation. While the older generations sacrificed a lot for their jobs including their personal time, younger generations don’t have that kind of loyalty to the employer of the workplace. For them to derive work satisfaction while working in your organisation, it is important to ensure that they achieve some work-life balance.
7. Create a positive work culture
As mentioned earlier, young employees are always on the lookout for other more interesting opportunities. Creating a positive work culture makes your organisation interesting enough to keep them around for longer. One may encourage a positive work culture by creating flexible work schedules, fun environment and a vibrant environment that is always a buzz of activities. A positive work culture makes employees derive job satisfaction and will look forward to coming to work every day. We have worked with hundreds of organisations over a decade to implement the FISH! Philosophy which focuses on creating and maintaining a positive work culture.