Millenials are reputedly a job-hopping generation. According to Harvard Business Review, in fact, 70 percent of employees today will quit their job within the first two years. That can be disheartening, given the high turnover rate of many industries. But you don’t have to feel helpless! While many of your employees will likely move on to other jobs at some point, you can still take steps to improve employee retention.

Know What Motivates Employees

A major cause of employee turnover is disengagement. Employees become disengaged when they lack motivation, company loyalty, and passion for the job. So, one of the first steps to take if you want to improve employee retention is to improve employee engagement. What motivates your employees to come to work and give their best? Don’t be fooled into thinking it’s all about the financial rewards. Surveys show that for workers between 16 and 40 years of age, money is not the top motivator. Rather, they want gratifying work, appreciation, and a feeling of independence. So, how can you give employees what they want?

Gratifying Work

Your employees are more likely to stay if they enjoy and feel challenged by their work. This means you must make sure you are using each employee to their full capabilities. Keep a good line of communication with employees, and ask them regularly how they are feeling about their work. You don’t want them to be overloaded, but you do want them to be engaged and challenged.

Appreciation

Employees who feel like their hard work is never noticed are not going to stick around; they’ll go somewhere they are appreciated. Again, showing appreciation involves a good line of communication. Take time to commend employees about a job well done. You could even show off an employee’s outstanding work to the entire department, or company, with an “Employee Spotlight” newsletter or an Employee of the Month program.

A Feeling of Independence

Over the past few years, a major shift has occurred in the way employees think about benefits. According to Dan Shawbel on Fortune, from 2014 to 2016, the most preferred employee benefit globally changed from healthcare coverage to workplace flexibility. Some millenials have even said they would take a $10,000/year pay cut in exchange for the ability to telecommute. Not every industry or position will allow for this much flexibility, but you need to be flexible with your employees if you want to retain them for the long term.

Focusing on keeping your employees happy is an important part of being a manager. Can you find a way to improve the motivation of your employees? Aventure can help you find top talent, but it’s up to you to retain them!