Millennials are shaking up the workforce and will soon completely dominate it as the largest living generation.
With this major shift comes new approaches to business that create a sort of “join them or get left behind” mentality. As meeting and event planning companies continue to expand their staffs with employees from this younger generation, it’s important to remember these key ways to attract and retain top millennial talent. If you don’t, you risk losing talented employees to a competitor who can offer millennials more of what they want.
Let’s be honest. The typical 9-to-5 schedule doesn’t always accommodate the most productive and creative work schedule, especially for event planners whose schedules ebb and flow depending on their event timeline. Reports show that 77 percent of millennials say flexible work hours would make them more productive. Not only does this create better work-life balance for the employee, but the employer benefits from millennial productivity, too, as 89 percent of millennials reported regularly checking email and being “on” after work hours.
Millennials are rumored to be the least loyal generation to their employer, moving from job to job to whatever company offers them the highest bid. But a large part of that mentality is because they expect the same loyalty in return. The catch-22 is that employers see discontent as a reason to get rid of employees, but the more loyalty you show your millennial employee, the more likely they will be to stick around. That could also translate into savings. After all, this expensive revolving door adds up: A 2013 report from Millennial Branding shows that 60 percent of millennials leave their company in less than three years, costing a company $15,000 to $25,000 to replace each employee they lose.
A Sense of Purpose
More millennials express that they want to make more of an impact on society. While their role as an event coordinator may not-so-much fit the bill, maybe you could let them spearhead a CSR opportunity made available at a future event. A build-a-bike activity that involves attendees or simply taking leftover food to a local charity can bring more purpose to the work you do—not only helping retain your millennial employees but also putting your organization into a positive spotlight.
Offer Growth & Mentorships
Another way to get millennials to stick around is to show them that there’s room for career growth at your company. By fostering ambition and even providing mentorships gives millennials yet another reason to remain loyal to their employer. Millennials want feedback, so give it to them. Your organization will be stronger for it and may even appreciate reverse feedback in return.
Be Completely Transparent
Millennials have grown up in the age of information, where transparency is key. If one tweet can completely destroy a company, then you better believe it can also lead to employees leaving. Be upfront about major announcements in regard to your upcoming meetings. Maybe the attendee numbers aren’t what you want, but it’s better your employees find out from you rather than online. Plus, it helps build a “we’re in this together” sense of community.