Kent J. Wessinger, PhD
It’s no secret that millennials are quitting their jobs in droves. In fact, according to a study by LinkedIn, 51% of millennials say they plan to leave their current job within the next two years. That’s a lot of unhappy young people! So why are they leaving? And what impact does this have on employers?
The impact of millennials quitting their jobs in droves has a few different implications for employers. Firstly, it can be more difficult to find and retain good talent. Secondly, it can be costly to replace these employees. It can severely impact sustainable growth goals for the company. And finally, it can create a negative image of the company among millennials (think Glassdoor.com). So while there are some downsides to this trend, there are also ways for employers to mitigate them.
Here are a few ways to mitigate employee attrition trends:
1. Offer competitive salaries and benefits.
2. Promote work-life balance and offer flexible work arrangements.
3. Make the workplace fun and engaging, and offer opportunities for advancement.
4. Train employees on the company’s culture and values, and provide regular feedback.
Retention Partners offers companies a solution grounded in the propriety and groundbreaking research into millennials from Dr. Kent Wessinger, PhD. To learn how we can make a significant dent in stopping and many times reversing this trend for you contact us at www.retentionpartners.com or (800) 965-3628