In 2020, Millennials are projected to comprise half of the American workforce, according to Peter Economy of Inc. That means that if you run a small business, it’s more important than ever to learn how to retain members of the Millennial generation as employees. This article provides several tips for doing that.

Implement an Effective Onboarding System

Your efforts to retain Millennial employees should start as soon as you hire them. That means an effective onboarding system is essential. A good onboarding process will help new workers feel comfortable with their peers and leaders. It will also set them up with the tools they need to succeed.

Don’t forget that onboarding can take place well after a person is hired. For instance, if a long-time worker is transitioning to a new role, they will need onboarding to help them get settled in.

Focus on Engagement

Millennials value engagement at work. To effectively engage Millennial employees, some prominent strategies include:

  • Outlining clear paths for advancement and providing opportunities to make progress on those paths. 
  • Providing paid opportunities to engage in volunteer work. 
  • Providing tools that allow for the sharpening of skills, like e-learning subscriptions.  

Foster Work/Life Balance 

Millennial employees highly value work/life balance. In fact, many Millennials view achieving a healthy work/life balance as an extremely important marker of success, per one survey cited by Ryan Jenkins at Inc. To foster an environment conducive to that, consider implementing perks like flexible work schedules and telecommuting policies. Managers should also be sure to respect time-off requests. Finally, members of company leadership can set an example by prioritizing their own work/life balances.

Foster Recognition of Achievements

According to entrepreneur Brandon Dempsey, frequent recognition is another effective technique for keeping Millennials on board. Dempsey recommends that employees should hear praise from both their leaders and their peers.

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