Reducing the High Millennial Turnover Rate

U.S. business leaders must make a decision about how to manage their multigenerational workforce, by implementing recruitment and management strategies to keep millennial employees engaged and turnover low as baby boomers retire, reports the Williamsport Sun-Gazette . Several factors are essential for understanding millennial workers — they have more career choices than previous generations, which has led to high turnover rates, and their differing needs from predecessors feeds into high turnover because of disengagement. Modern employees prosper on short-term rewards and incentives, which is encouraging higher turnover. In consideration of these trends, managers who maximize generational proficiencies will enjoy the most growth, and an easier transition to future workforce realities by better understanding millennials. Boomers' embrace of helicopter parenting has hindered millennials' sense of independence, in general, cultivating impatience that has fueled some of the turnover in the workforce. Millennials mainly leave their jobs out of a desire for professional growth and/or work-life balance or to flee negative managerial behavior. Monthly or even weekly performance reviews can be positive for millennials, along with training and allowances for independent thought. Managers also should be encouraged to improve their conflict management skills and instill transparency in their dealings with younger employees.