Yes, any employee has the potential for loyalty, regardless of their role or tenure. Instead of proclaiming that employees within the millennial age bracket are not loyal, the real question that management and leadership should be asking is ‘what do we need to do differently to create an environment where employees want to stay more than a year or two?’ Loyal millennials are a real possibility with the right leadership, insight and workplace dynamics.
It seems like in life in general, people or organizations don’t feel the need to change until the pain is great enough. The reality of the $15k-$25k cost of replacing a millennial employee, the 4-6 month ramp-up time for a new employee, and the disruption to the workplace, are all creating a level of discomfort and pain requiring serious attention to be placed on fixing the problem.
Much needs to be understood about this generation of potentially loyal millennials to begin to understand where they are coming from. They have seen their parents get laid off from jobs that they may have personally been effected by. They have also seen the impacts of the housing collapse and banking industry shenanigans leading to financial hardship in many households. They are more inclined to look out for themselves than trust a company or employer to do that for them.
Boomers were raised in an era where it was common for an employee to begin and retire with the same company – a pension and health insurance for life in tow. This former reality began vanishing toward the mid-career experience of many boomers, and will not be part of the majority of any employees’ future employee benefit reality going forward. Gone are the days where many employers fully paid for their employees’ health insurance. It’s a brave new world for potential loyal millennials.
Millennials will show some form of loyalty to companies that show interest in their career growth, training and development, authentically listen and act on their input to leadership, and provide goals along with regular constructive feedback on how they are doing. Many other very simple tools can be provided to enhance the relationship with, and ultimately extend the tenure of loyal millennial employees. It takes insight, a willingness to listen, and an environment of action and willingness to change, on the part of leadership.
You may be surprised to think that in reality, nothing the millennial generation of employees are expecting or looking for is unreasonable the majority of the time. When you think something is unreasonable, look for where you fell short from a leadership standpoint in clearly defining roles, clearly articulating what is expected for them to move up the ladder, get a raise, and all of those important things that frequently are left unsaid. Expecting employees to continue on the path without these things clearly defined is no longer acceptable.
For expert guidance in creating a more loyal and engaged employee base and team of individuals who willingly contribute to your success as a leader and the company you have all chosen to be part of, get in touch with me. I have proven success, and extensive hands-on experience with teams of employees and millennial employees where I exceeded the norm for engagement and retention. Let me help you learn what I have mastered through experience. Schedule time to talk about how you can be the catalyst to turn things around with your organization or team here: http://bit.ly/1YiyDyc
Also pre-register for my forthcoming book Millennial 101, the Leaders Guide to Millennials in the Workplace. www.Millennial101.com