Introduction

The Millennial generation is a force to be reckoned with. They are talented, innovative, entrepreneurial, and creative. They are also highly mobile and prone to job hopping. Retaining top talent is a key business imperative and old strategies are no longer effective.

More than 60% of Millennials leave their company in less than three years and their turnover is greater than any other generation. In addition, there are now more Millennials than Baby Boomers in the workforce. 60% are open to a different job and 36% will look for a new job in the next year. No question they have their own style, attitudes, and beliefs. Unfortunately, most companies don’t have a focused retention strategy to retain these important employees.

The good news is that Millennial prefer to stay with the same company and they will if given the right environment and opportunities. There are strategies and tactics that can improve retention rates.

Learning Objectives

  • Why Millennial employees stay or leave
  • How to measure turnover
  • The relationship of compensation to employee satisfaction and motivation
  • The relationship of leadership to retention and turnover
  • How to create a workplace "community"
  • Why recruitment and interviewing are important in managing turnover
  • The importance of "Stay interviews"
  • 135 ideas for reducing turnover
  • 10 steps toward great retention
  • Ideas for more effective onboarding
  • Importance of realistic job previews
  • 7 steps to giving effective recognition
  • Linking benefits to retention
  • The 5 components of the retention model
  • Keys for millennial retention

Area Covered In The Webinar

Cite factors that contribute to Millennial employee turnover

Identify strategies for retaining employees

Understand the link between leadership, employee satisfaction, and turnover

Measure employee turnover

Cite three factors that contribute to employee motivation

Understand the priorities of the Millennial generation

Who Will Benefit

Anyone with responsibility for acquisition and retention of key people assets.

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Bob Verchota is owner and senior consultant for RPVerchota & Associates, a consulting firm providing services to clients who seek to align their business and employees, creating successful outcomes a Know More

Bob Verchota