How Can Your Company Retain its Gen Y Workforce?
Posted: Thu Jan 23, 2025 6:56 am
A hot topic in 2013 that will continue in the months to come is building an employment brand that will give your company a competitive edge in recruiting generation Y candidates. As studies show, 85 percent of employers believe that a strong employment brand determines its ability to hire top talent. With such a large majority, employers will continue to research and invest in the development and promotion of their employment brand this year. But what happens once you’ve successfully brought on quality hires? How will you ensure you’ll be an organization that ensures gen Y hires will continually grow and develop? According to a Forbes article, 70 percent of gen Y employees leave their first job within two years of joining. So, what does it take to retain these employees?
There are multiple reasons for employees leaving their employer. However, if you’re south korea phone number library able to provide what generation Y values, your organization will be able to retain these employees. As a result, this will mitigate the adverse effects that turnover has on your company. To do this effectively, we must determine what drives gen Y employees.
Generation Y, which is also known as the millennial generation, (although dates seem to vary among multiple resources) is defined as those born in the 1980s and 1990s. With this classification being so large, it’s easy to see why you should be targeting this generation. These individuals range from the latter part of high school through mid-career, which provides an assortment of experiences to recruit from.
In terms of what gen Y employees look for in an organization, a top value is the opportunity for career progression. To some millennials, a career advancement opportunity is important because it means growth, stability and more money. Although this came in first, compensation is ranked as a close second, as well as flexible working environments, training and development programs, great leadership, diversity, being able to do interesting work and knowing that they add value to the company.
There are multiple reasons for employees leaving their employer. However, if you’re south korea phone number library able to provide what generation Y values, your organization will be able to retain these employees. As a result, this will mitigate the adverse effects that turnover has on your company. To do this effectively, we must determine what drives gen Y employees.
Generation Y, which is also known as the millennial generation, (although dates seem to vary among multiple resources) is defined as those born in the 1980s and 1990s. With this classification being so large, it’s easy to see why you should be targeting this generation. These individuals range from the latter part of high school through mid-career, which provides an assortment of experiences to recruit from.
In terms of what gen Y employees look for in an organization, a top value is the opportunity for career progression. To some millennials, a career advancement opportunity is important because it means growth, stability and more money. Although this came in first, compensation is ranked as a close second, as well as flexible working environments, training and development programs, great leadership, diversity, being able to do interesting work and knowing that they add value to the company.