Millenials are known for having one foot out the door when they join a company, and there have have been many studies investigating the reasons why.
A recent Deloitte survey found that "78% of Swiss Millennials think that they are considered for potential leadership positions (compared to only 58% on a global level." It was then concluded that "Swiss employers are not afraid of considering younger employees for open leadership roles,” implying that millennials in other countries leave their jobs because they are not considered for open leadership roles.
However, I believe this conclusion to be a bit misguided.
Millennials are leaving companies for a variety of reasons.
I can only speak for the clients I’ve encountered in my own practice, but I’ve found that many younger employees complain that they did not get any leadership roles, but when asked if they had expressed their desire to be considered for an open role, they said no.
They may have insecurities that stop them from asking for what they want.
Often their not asking to even be considered is due to a variety of reasons, including:
- “I’m not qualified”
- “I don’t want to stand out”
- “I’ll be considered when they think I’m ready or worthy enough”
They may leave because they don’t feel heard or valued.
Since many millenials grew up with parenting styles that included constant encouragement, acknowledgement, and praise, many also be leaving due to feeling like they’re not being heard or valued.
Individualized coaching may give you the biggest bang for your buck.
It’s very easy to treat these millenials with a “suck it up” attitude, since older generations grew up with the "work hard, keep your head down, do what you're told, and you can climb up to the corporate ladder” mentality.
But what I’m finding is that millennials respond to best is individualized attention and support in developing better coping, stress management, and communication skills.
When coached to develop new mindsets and habits that promote better team working skills and more purpose and meaning within their jobs, your millennials will experience long-term changes. Not only do you get a better employee who feels valued, heard, and supported, but you also get an team player who wants to stay in your company for the long-term.
Make sure your perks and benefits include individualized support.
So many companies today tend to focus on providing fun gadgets and booze and wellness programs for millennial employees to "keep them happy," when instead, it would be greatly beneficial to consider providing coaching for younger individuals, on topics like effective communication, stress management, time management, emotional modulation, etc.
Check out Simon Sinek's talk about how companies today have the responsibility of adapting to the societal changes in business today and providing more relevant support to the younger generations. http://bit.ly/2jXDTfq