Employee retention has been a growing issue in the workforce as of late. Due in part to the millenial generation making up the larger part of the workforce, we are finding that staying in one career is not as popular now as it was years ago. This could be because peoples attitudes toward their jobs are changing. Before, people would keep a job as long as it kept their family well fed. Now people want a job that they love and pays well. The simplist way to put it is, if it dont make dollars, it dont make sense. The millenial generation grew up in a different culture where extravagant things became almost a necessity. People want means to not only acquire things they need, but what they want. If the job they are provided with does not allow for them to get the things they want, its on to the next job. Corporate dedication is non existent.
In today's society employees are realizing that job security is a thing of the past. Employees are no longer confident that they will have a long-term position in a company simply based on good job performance. For this reason, millennial employees are more likely to constantly be looking for better work opportunities. This has contributed to the issues surrounding job retention.
ReplyDeleteKeeping younger workers is going to be a major task (or I should say is a major task) for managers. When hiring new workers, managers should provide a realistic "preview" of what the job will actually entail. Managers should also lay out some type of realistic path for the new worker to follow as they progress with their career. Managers should provide subtantial and constant feedback to the employees about their progress and also seek feedback from the employees on how they perceive the rate of their own progress. As long as both parties are in agreement, there's a better chance for the worker to stay. When out of agreement, more work needs to be done!
ReplyDeleteRecently due to the recession job cuts have been higher than ever before. Large companies are laying off and terminating their employees left and right. Job security isn't what it used to be due to all of the current issues. I think one of the problems with the millenial generation is that they just get bored after a period of time and look for a career change.
ReplyDeleteRealizing that money is not the only motivator for people is an important lesson that management needs to learn. Employees are individuals and their inspiration can change over the course of time. Finding what encourages and makes your employees ‘happy’ is key to keeping them and not having to retrain new employees over and over again for the same positions. As a manager, understanding your own management styles and your employee reactions, Myers Briggs etc…, can play a major role in promoting cohesion in a company. Keeping a positive attitude throughout a company is necessary, as well. One negative employee can wreak havoc on employee retention. Truly being aware of what is going on with your employees and caring about them is the best way to retain quality staff from any generation.
ReplyDeleteI agree with the overall consensus that employees are not just looking for a job or career, they are looking for good benefits and where can I move up next. Also I believe that people want to move around as well, more than they did before. The climate today is as the articel points out, many people are living beyond their needs there living within their wants.
ReplyDeleteI think that a combination of these issues are facing the millenial generation today. I think we should all realize that we can't take any of this stuff with us when we leave here, so we should be more responsible and choose a career that will suit us as individuals, not what we want.