A Deloitte study found that 43% of millennials surveyed plan to leave their jobs within two years. What’s driving them to the exits? A lack of commitment to diversity, inclusion, and flexible work arrangements. Not surprising, the survey found that pay is a key recruiting tool, but it’s not enough to retain these workers.
Why is it so important to have your finger on the pulse of Millennials’ needs? Because in one-and-a-half short years, they will make up 50% of the workforce. Yes, that’s right, 50%. So although you may want to pretend that retention is not an issue, it is, and the better your organization prepares the better it will fare. Let’s face it, turnover is expensive and time consuming, and unless you have a problem employee on your hands, undesirable.
What are some ways you can show employees that you are committed to diversity, inclusion, and flexible work arrangements?
- People tend to hire ‘themselves.’ Conduct bias training for managers, and encourage them to hire people who have differing backgrounds, education, experiences, cultures, etc.
- Balance out your leadership ranks (executives, VPs and directors) with an equal number of men and women.
- Rather than assigning tasks or projects to ‘star employees,’ ask people, “Who is interested in taking on this initiative?” Give everyone the opportunity to express interest and volunteer.
- Implement a monthly Focus Group and invite all employees to participate. Address something that needs to be improved, fix the issue, and communicate the results to the org.
Flexible Work Arrangements
- Develop a flexible work arrangements guideline, where employees can work from any location several days a week (business needs permitting). Where possible, enable employees to work flexible hours and do not dictate “operating hours.”
- Create a Flexible Fridays option, where employees are encouraged to spend Friday afternoon focusing on anything creative in the workplace that they are passionate about.
What Can I Do? It’s no secret that it’s currently an employee’s job market. If your workplace culture does not meet Millennials needs, don’t be surprised if they leave even if they do not have a job lined up. However, it does not have to come to this. Step-up your commitment in the areas of diversity, inclusion, and flexible work arrangements, and communicate the changes to employees. When you do, employees will take their eye off the door and put it back where it belongs – your customer’s needs.
Jill Christensen is an employee engagement expert, best-selling author, and international keynote speaker. She is a Top 100 Global Employee Engagement Influencer, authored the best-selling book, If Not You, Who?, and works with the best and brightest global leaders to improve productivity and retention, customer satisfaction, and revenue growth. Jill can be reached at +1.303.999.9224 or firstname.lastname@example.org.