How to Retain Talent in a Workforce Full of Millennials
HR executives know how precarious their workforce can be. It’s not hard to decipher the writing on the wall. Gallup reports that 60% of millennials are open to new job opportunities. To make matters worse, as many as 42% are ready to take new positions in the next 12 months.
Stellar pay and benefits don’t guarantee employee retention anymore. People leave when they are most needed, with little to no warning, and such departures have corrosive effects on team morale and future strategy.
In a boom economy people have options. “Money talks, and people listen.” But money is not the deepest reason millennials are so easily moved to seek bigger and better horizons.
With Glassdoor giving employees the power to evaluate employers in public, company culture has never been valued so highly. It’s more important than ever for an organization to keep its best people grounded in a culture of excellence, honesty, diversity, innovation, and a people-first focus.
But it’s reasonable to ask the question: “Isn’t company culture intangible?”
Not according to CultureIQ, a culture management platform that identified the 10 cultural qualities of high-performing firms. These aspects of culture are objective measures of the value employees see in their work, which include:
Companies need a tool to track, visualize, and build the ideal workforce culture from these qualities.
That’s where OrgChart takes organizational data and turns it into vital perspective.
An employer can track their most productive talent with performance metrics; see collaboration signified by dotted-line relationships and matrix layouts; employee growth opportunities through the number of trainings or certifications needed; and devise contingency plans with high-retention-risk employees in view.
These metrics have significant implications for the strength of company infrastructure and determine the extent of what it can accomplish.
With OrgChart, there is no need to wonder about which quality people will jump ship. Instead, an employer can know they have developed a culture where mission and value align, innovation and communication are norms, and the company is defined by the most compelling reasons millennials come to work on Monday.