How to Ensure Your Gen Y Employees Remain Loyal
There is nothing more frustrating that putting a lot of time, training and investment in a good employee only to have them quit and pursue a career elsewhere, so what do you do when you have a whole generation of workers who are known for this very practice?
In an economy with no job shortages, Generation Y is known for this practice of job-hopping. These are the children of the baby boomers and the older Generation X population. They have many advantages that put them in a position to go elsewhere for that “better” position, so it’s in your best interest to make sure that you keep valuable workers you worked so hard to train. To do this, think about these several things.
First, Generation Y has more access to instantaneous communication than any other generation before it. This is a generation that grew up on things like the Internet and Instant Messenger, so they know how to get information, quickly.
Because of this instantaneous communication, these people know more about their industry and what other people are saying about it, and much more quickly than previous generations. Because of this, they also know when better employment opportunities exist versus the one they have, so that they can truly get what they deserve.
What this means is that you as an employer have to worry more these days about keeping good employees. Every new employee you hire is going to require a certain amount of resources and money to train. They might need instructions, supplies, training, and other types of investments. The more you invest in them, the less likely you are to want them to leave.
If you have a high turnover rate in your staff, this can make for a very stressful work environment. It’s also not as productive as it could be. If you have high turn over, you’re going to spend more time and money training, and there’s no guarantee that new employees will stay put, either.
What can you do, then, to retain Generation Y employees? Simply, give them the best work environment that you can. Provide good training and coaching, promise more valuable training in the future, and do everything you can within reason to ensure that your employees are satisfied with their jobs. If they are, they’re much more likely to remain loyal to you.
You should also have a reputation for promoting from within, so that your employees have a reason to show you the same loyalty and investment in you that you have shown to them. One good way to make sure that your reputation is staying strong is to Google your company and see what other people are saying about it. This can provide valuable information that you can use to improve your company’s standing.
It’s true that Generation Y has a habit of job-hopping, but it’s only because they want better job satisfaction. Therefore, if you want to keep your employees, make sure you address their needs within reason.
