3 Tips to Keep Gen Y From Jumping Ship

63% of your employees plan to leave their jobs when the economy improves.

Under 40 and Out

According to a recent survey, the majority of Gen X and Gen Y employees plan to jump ship and are actively looking to change jobs.

Question 1: Do you care?

Question 2: What are you doing to retain them?

Over 50 and Outdated

Let’s face it, people over 50 have different expectations about work than Gen X and Gen Y employees.  So if you believe: “Young people have to put in their time,” or “they’re not willing to work hard,” you better start looking for their replacement now because they’re part of the 63% who want to leave their job.

Here’s why you should care: Outdated viewpoints about generational differences can cost your company hundreds of thousands of dollars in recruitment, temporary workers and training costs, plus lost productivity due to open positions and increased stress on co-workers.  Don’t forget the cost of benefits.  Do the math.

3 Tips to Retaining Talent

1) Gen X and Gen Y employees want work/life balance.  A 28 year old said she’d rather have more time with her husband and family than make more money.  As long as a person is fulfilling the job duties as expected, quit complaining that they don’t care about more face-time at work.

2)  Be flexible.  Can the work be done virtually?  Gen X and Y want flexibility and freedom.  Again, if the work is done according to expectations, don’t sweat it if you can’t see them working.

3) Coaching and feedback.  Remember, many employees under 40 grew up in an era where they got a trophy for showing up. You can’t change that – but you can provide timely training, coaching and feedback.  Don’t be so stingy with your praise.

These 3 tips don’t cost a dime and will save you big bucks.

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