How to Retain Millennial Employees
You’ve hired someone who is a good fit for your organization, they excel in their role, and they fit in with the company culture. So what can you do to keep that employee? When it comes down to how to retain millennial employees, it is not always what you think.
Millennials, a term that typically refers to those born in the mid 1980s – the early 2000s, are notorious for job hopping. According to the 2018 Deloitte Millennial Survey, 43% of millennials envision leaving their jobs within two years and only 28% want to stay beyond five years.
The same survey also found that while pay is an important factor for attracting millennials, culture and flexibility are also top priorities to this generation. Looking beyond money and seeing the other needs is a crucial step to strengthening your employee retention.
One way to attract and retain employees of all ages is incentive travel. Learn about several ways that incentive travel can help retain millennial employees below.
Company Culture
During an incentive trip, the true company culture becomes even more apparent. Fun, themed meals show a playful side while awards and recognition dinners can highlight an organization’s appreciation of individuals who reach goals, exhibit company values, or go above and beyond. Keynote speakers, from both within and outside the organization, can further relay the company culture and inspire employees.
Feeling Included
People of all generations want to feel like they are a part of something. By spending time with each other outside of the office, employees build relationships with each other and feel included in the team.
Bonding with Leadership
Traveling gives both the employees and the organization’s leadership team the chance to bond with each other. Shared experiences that come with travel create lasting memories that you just can’t make in the traditional office setting.
Establish Loyalty
As millennials – and all employees – become more engrossed in the company culture, build relationships with other employees, and bond with the leadership, they become more loyal to the company as a whole. They can gain a deeper understanding of where the company is now as well as the direction it is heading for the future, and thus can visualize their role in it.
