A lot of companies are stuck in a vicious cycle.
Since their Millennial employees are disengaged and prone to high turnover, they invest little in these employees' futures. Then, the employees, seeing the lack of learning opportunities and room for growth, slowly become discouraged and eventually leave. The company (who knew it was right about those lousy Millennials!) invests even less in its Millennial workforce, and those Millennials who are left... Well, you get the picture right?
In order to break the cycle, companies need to better understand Millennials' perspective. Simply put, Millennials view their careers as a series of experiences; they want to work for companies that provide the opportunity to learn and grow. As one Millennial explains:
“It will be difficult for employers to keep the top talent in our generation engaged if there aren’t additional incentives outside of titles and bonuses. We realize that we can get money and title bumps by changing jobs. The incentive to stay with one employer for a long time hinges on how committed that employer is to providing a breadth of experiences and creating the best environment for us to grow.”
Our infographic, The Millennial Wheel of Disengagement, and the accompanying white paper, Engaging Millennials through Leadership Development, explore ways that companies can provide these learning and growth experiences. Both are based on a survey of over 525 Millennials and more than 100 telephone interviews.