Despite being the most educated crowd, Gen Y gets a bad rap when it comes to work. They’re notorious for job hopping and have a “what’s keeping me at this job” mentality. So how can companies retain these top talents? Hook them with perks that they just can’t step away from.
This study by TalentWise exposes startling numbers about millennials in the workforce:
- 79% surveyed stated they were either actively seeking or were open to new opportunities
- A mere 23% say they are satisfied with their current career
- Millennials are departing their employers every 2.3 years
With this generation taking up 75% of the workforce in 2025, companies really need to amp up their retention game to avoid becoming a revolving door. Consider these changes you can make in your organization to create an irresistible company for millennials.
Save the world to save Gen Y: There’s a surprising link between volunteerism and millennial work satisfaction. Unlike previous generations, this young crowd doesn’t see work as a means for living. It’s a sense of fulfillment. So provide them a chance to develop professionally and make a difference through volunteerism.
Put the world in their hands: Be flexible with these youngins. They don’t want to be stifled behind their desk or a regular 9-to-5 job. Let them work from anywhere, anytime—give them your trust because they’ll still get everything done on time.
Keep them connected: Also known as the “digital natives,” millennials are used to having instant access to information. Put away the wired phones and file cabinets. Give them instant messaging and cloud-based storage, and watch the creative collaboration flourish.
Give them a study buddy: Despite their rebellious reputation, 75% of Gen Y would like to have a mentor. Not only will this benefit older generations, it indulges millennials’ craving for collaboration.
Gen Y isn’t attracted to paychecks or ping-pong tables—they’re drawn to simple perks that a company is willing to offer. Show them that you’re interested in their career and willing to accommodate their work style, and they’ll keep both feet in your organization’s doors.