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Aug 10

How to Protect Yourself from Millennial Invasion

Do you have millennials working for you right now? Is the millennial generation challenging for you to work with? Have you noticed they are motivated and driven by different things? The carrot and stick just doesn’t work with this group.
Here’s some scary statistics from a report I read recently:

  • The average person in their 20s stays in a job less than an average of 18 months
  • 91% of millennials say they don’t ever expect to stay in a job for more than 3 years
  • Today’s millennials will make up 75% of the workforce by 2025

Wow. I don’t know about you, but I find those very sobering numbers. Turnover costs thousands upon thousands of dollars each year. We all eventually hope to retire, but who will be left to take our place if they leave after 3 years? What do I do?
Here are some helpful statistics from another report on most motivating work concepts for millennials:

  • 76% Impact – to know the work they are doing is making a positive difference in the world
  • 59% Learning – trying new things, growing and developing, gaining new knowledge
  • 51% Family – they want to make their family proud, and have good work and life balance

Want to know the least motivating work concepts for millennials?

  • Prestige – 80% don’t care about titles or working for a highly esteemed company
  • Autonomy – 80% are not looking to be their own boss or work alone; they desire mentoring
  • Money – 90% are not motivated by the amount of money they earn; it is a satisfier, not a driver.

Fidelity Investments did a research study with millennials and found that they “would take $7,600 less money to have a job that offered them a stronger work/life balance, offered more purposeful work, the chance to develop professionally and a better corporate culture.” Clearly it’s time for us old dogs to learn some new tricks. Especially if we want to have the business and life we once dreamed we would have.
Want to know what to do to save yourself and your business? It’s easy.

  1. Clearly explain the mission of your company
  2. Challenge them early to learn and make a difference
  3. Worry about their well-being

Want to know how to do those three things? Join us for a FREE trial offer on August 19 or 26. Get immediate help on engaging your team in less than 1 hour. There is no obligation and ­no risk.

Click this link right now to register and reserve your spot!

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Still not sure about joining the FREE trial offer? Look at this Facebook post from a client’s employee:

Employee Impact