Discover retaining millennials in the organisation.
– 5 mins read –
Generation Y has spoken: millennials value companies that behave in an ethical manner, contribute to society and provide training, support and leadership skills. These findings – from the 2016 Deloitte Millennial Survey – focus on younger employees but we have seen a shift towards the same ideas throughout organizations.
The survey asks: “What are the most important values a business should follow if it is to have long-term success?” Millennials responded that businesses should put employees first, and they should have a solid foundation of trust and integrity. Customer care and high-quality, reliable products also ranked relatively high in importance. Attention to the environment and social responsibility were also mentioned by a significant number. Few (5 per cent) of those answering thought profit-focused values would ensure long-term success.
Of more immediate concern, the report highlights the lack of company loyalty from millennial employees. Two-thirds expect to leave their job by the end of 2020, with almost half stating they would like to leave their current employers within 2 years.
While the report goes into depth about how millennials want organizations to be better corporate citizens, the most telling statistics come from the link between employee loyalty and leadership development within the company.
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