blog-slide-gen-y

7 Ways To Keep High-Potential Gen Y’ers At Your Company

The average American worker today stays at his or her job a mere 4.4 years, according to a recent Forbes article, while Gen Y’ers (those born between 1977 and 1997) are leaving in a fraction of that time—91 percent expect to stay in a job fewer than three years. As new data reveals that a lack [...]

The average American worker today stays at his or her job a mere 4.4 years, according to a recent Forbes article, while Gen Y’ers (those born between 1977 and 1997) are leaving in a fraction of that time—91 percent expect to stay in a job fewer than three years.

As new data reveals that a lack of longevity with one company has no effect on length of stay at the next, the old stereotype of “once a job-hopper, always a job-hopper” is becoming less relevant to employers, possibly debunking workers’ fears of not being offered new work just because their lengthy resumes are littered with short-stint positions.

As an employer, you obviously want to keep turnover among workers low. Losing workers after a mere year means wasted time and resources invested on training and development. Gen Y’ers with high expected potential to perform are especially precious to keep around, even more so than workers with proven achievements, a new study by scholars at Stanford and Harvard suggests.

So how do you prevent Gen Y’ers and other workers from leaving your company quickly, thereby increasing the likelihood of maximized profits? Try the following:

1. Hire The Right People First

The economy has made every open position look tempting to a wide array of job seekers. Even if your company’s applicant tracking system successfully weeds out under or over-qualified candidates very efficiently, some workers who aren’t the right fit inevitably make it through. To keep high-potential Gen Y’ers and other workers at your company, ensure you’re hiring the right people first. Use video interviews to broaden your search efforts geographically and better establish an accurate feel for potential workers, all while saving time and money.

2. Embody Your Company’s Values

A 2012 survey by Net Impact found that 58 percent of respondents said they’d be willing to take a 15 percent pay cut in order to work for a company with similar values as their own. To keep high potential Gen Y’ers at your company, do more than just hand employees a list of its values on day one—actually embody the values day in and day out and reward employees who do the same.

3. Encourage Open Two-Way Communication

If today’s social marketing campaigns illustrate one thing, it’s that consumers like to engage in open conversation. Likewise, employees, especially Gen Y’ers, appreciate the opportunity to share ideas and opinions openly in the workplace. To keep high-potential Gen Y’ers at your company, encourage open two-way communication among all employees through various channels.

Read the rest of the article on www.recruiter.com