Many companies find themselves struggling to retain millenial and gen Z workforce. Actually, these two generations are unique as they are more critical and demanding compared to the previous generations. Indeed, millennials and gen Z have their momentum now. The current job market is really supporting them. That is why, it is easier for them to find a new job.
In addition, millennial and gen Z do not like status quo. They tend to desire something new. They call themselves the drivers of change. In fact, retaining these two generations may not be as difficult as you imagine. Your organization may need some improvements to make the millennial or gen Z workforce comfortable.
Why Retaining Millennials and Gen Z Workforce Is Difficult
Some issues in your organization may prevent the millennial and gen Z from settling down. Take a look at the following reasons, and one or more of them may be found in your organization:
No Clear Path for Advancement
If the employees do not see any clear path for advancement in your company, retaining them may be more difficult. Actually, most millennial are aggressive in career change. After working for several months for the company, they will think they are ready for a promotion. If such an expectation is not met, they will begin to find a new, better opportunity.
Therefore, make sure to tell them about the opportunities. Show them the path. However, set clear requirements for advancements. They may include timeframe estimate and required competence. If they know that they do not meet the criteria yet, millennials will be willing to develop their competence. By setting a clear path for career development, they can see their prospects and measure their capacity to achieve better career.
Rare Learning and Development Opportunities
Millennials and gen Z workforce is known for eagerness to learn. They love learning something new. However, when the opportunities are scare, they tend to be more frustrated. For these generations, learning and development are the top two priorities, and fair pay may be positioned in the third place or more. They are eager to grow and development. They are fast learners.
If you find it difficult to retain the millennial and gen Z workforce, look back at your human resource development strategies, by asking the following questions:
- Do you provide your employees enough opportunity to grow?
- Do you offer them formal or informal training sessions?
- Do you provide them with app or web-based learning facilities?
- Do you have mentoring program on-site?
- Are there are peer-to-peer knowledge sharing? And so on
If you only have one or two of these programs, do some evaluations to find out who enjoyed the program. For instance, mentoring can be an effective program for human resource development. It also requires much fewer costs. The senior employees can share knowledge and experience dealing with the problems to the junior ones.
Mentoring bridges the millennials and gen Z workforce to the other generations. It is effective in maintaining best practices from the seniors, who are about to retire soon. One day, the millennials and gen Z will replace the seniors.