The Idea: According to a Future Workplace survey, over ninety percent of Millennials expect to stay in their job for under three years. And this number will continue to shrink. So how do we develop and retain the most gifted, creative millennial thinkers?
If you want to grow market share you must win the battle for talent and “share of heart.”
Millennials, like all generations, have a need for candid relationships, but it is often times occurring digitally (or remote) and can seem less personal. They may be less acquainted with formal business protocol and tough face-to-face conversations than prior generations, but they are not short on honesty. And this is your opportunity to personally connect with them.
With the job market in constant flux, Beverly Kaye’s recent book introduced a fascinating strategy called “Stay Interviews,” the counterpart to “exit interviews.” Our goal should be to retain talent and often we don’t even discover an employee’s disappointment that pushes them out of a company until the very end – their exit interview. The key question of any stay interview is: “What will keep you here?”
The results can be huge. Verne Harnish said, “The war for talent is raging around the globe. So when you land A-players, it is critical you keep them. Beverly and Sharon’s stay interview is precisely the practical solution a leader needs to significantly up the odds of retaining key people.”
Ideally, we should be constantly checking in with our team and recognizing the struggles and realities of their work. Retaining Millennial talent, in a sustainable way, is more important than ever. Affirm their talents, challenge them with exciting projects that make a difference and show why they are valuable.
What will keep your talent in your company?
Only they can tell you!
