5 Reasons Millennials Are Leaving Companies- And How to Keep Them

By / September 15, 2017

Lazy. Disloyal. Entitled.   These are all common, one-worded descriptions that people- typically not within the Millennial generation- use to describe those currently flooding the workforce. While some may only see them in a negative light, perhaps it’s worth recognizing the work-life balance they desire, what causes them to leave, and what it takes to make them stick around.  

Value Incentivized

50+ years ago employees were just that- employees. They woke early, punched the clock and followed the orders of their bosses- no opinions, no ideas, no say. Now however, the current workforce places an importance on being valued for not only their hard work, but their ideas as well.   How to Keep Them: Bring them into the fold. More than anything, Millennials have this amazing team mentality and they want to know that their ideas are going to be asked for, listened to and- if worthwhile- used to help bring the team a win at the end of the day. Seek out individual contribution and incentive their ability to bring great ideas to the boardroom table.  

Work For a Purpose

Again, it’s not just about clocking in and out every day that brings fulfillment to employees anymore. Now they want to feel like their time spent working is helping to bring a change for the bigger picture. Ultimately, culture and the values of the company they work for are more important than ever before- and many are willing to leave to find a company with beliefs in line with their own.   How to Keep Them: It’s important for every company to truly determine and apply their own set of values and culture standards; without those in place from the beginning, it makes a lot of other basic protocols and actions difficult to fall into place. Hire team members that fit with your company culture from the beginning instead of trying to fit a square peg in a round hole down the road.   Want an Effective Leadership Team Remember the famous quote: “people leave managers, not companies?” It’s true- always has been, always will be. A Gallop study found that over 50% of employees left positions they liked to get away from a bad management team. Other statistics have the numbers leaning more towards 75%, but the common denominator is always poor leadership.   How to Keep Them: Training doesn’t stop with ‘low-level’ employees; instead, consistent leadership training goes a long way towards helping managers learn effective ways of treating, communicating and working with their employees. Leaders should be invested in their employees, exciting to help teach and eager to lead by example.

No Future

While your great grandfather may have found a job early in life only to retire 50 years later with the same company, that cannot be said for generations today. Working in the same lifelong role- with limited room for growth- is often an instant deal breaker for Millennials. Millennials are typically more educated than the workforces before them, and as such, they anticipate using that schooling, experience and the hard work at their current jobs to help climb the so-called corporate ladder.   How to Keep Them: While we all understand the need to hire out of house at times, a great way to boost company morale as well as foster a culture that honors and rewards hard work is to promote from within. Express the opportunities available for new positions and internal growth, giving your employees a clear goal each day.  

Lack of Flexibility

More than anything else Millennials desire a healthy work-life balance that leaves them fulfilled and most importantly- happy. To many people this means having flexibility in their professional lives for time off- either for professional or personal reasons- or being able to work in unconventional ways.   How to Keep Them: Consider hiring remote workers, or offering flex-time for employees who can handle working from home part of the time. Additionally, while most companies can’t afford to offer their employees the kind of paid time off that those such as Deloitte can, it’s still worth while to implement a program that gives employees paid time off to reignite their spirits, embrace their mental health or even join a cause.  

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