A recent study from Dynamic Signal shared that more than 43% of millennial employees envision leaving their jobs within two years. 

To keep them, most companies will try to get their employees to stay by increasing their salaries, boosting up their benefits etc– just like they have for the past couple of decades.

But most of them also aren’t aware that according to LinkedIn’s Work Culture Report, more than 85% of millennial employees would consider taking a pay cut to work at a company whose missions and visions align with their own.

So when the tactics that used to work before don’t work… What do we do?

It really comes down to three simple steps.

  1. Ask the source– what makes them stay, engage and advance in the organization
  2. Shift things around to address the gaps between what the organization is providing for their employees VS what employees want to see
  3. Continue to work with them to ensure that their career goals are aligned to what the organization can offer to them in benefits, compensation, advancement opportunities etc

But more often than not, things are easier said than done… Especially when you have no idea what to ask them in the first place and when what the organization has done to engage and retain your millennial employees so far (ex. salary increase, promotion etc) did not work.

That is where Gen Loyal Consulting (GLC) comes in.

Gen Loyal was founded by Clair Kim, millennial business consultant who has been featured in the Huffington Post, Entrepreneur and YFS Magazine. After consulting for over 250 different organizations of different sizes and growing a millennial influencer brand that ranked among the top 5% of online influencers, she founded Gen Loyal to help large corporations connect with their millennial employees to build a profitable workforce of ambitious forward-thinkers and action takers.

When it comes to the topic of millennial employee retention, most firms go either of the two directions– focusing on traditional principles, or on groundbreaking ideas– and are faced with dilemmas: 

  1. Traditional human resources principles just don’t seem to be as effective for millennials
  2. Groundbreaking ideas are not feasible to implement due to policies etc

Gen Loyal meets you in the middle ground by merging traditional human resources management principles with an in-depth understanding of what millennial employees expect from their careers and their employers. 

Working with GLC means insights directly from the source, getting customized strategies based on your business’ vision and objectives and ensure that the strategies are directly aligned with what your employees want within the organization.

When your top millennial employees realize that what your organization can offer to them is exactly aligned with their future vision, the other opportunities to them becomes irrelevant. And when they realize that your organization is the best workplace for them, they become more likely to stay with the organization long term.

Let’s see how we can increase your millennial employees’ loyalty and make sure your millennial employees continue to consider your organization as a best workplace.