Young Talent Demands These 6 Things for Their LoyaltyThe same traits entrepreneurs seek in young talent are also the traits that make it most difficult to retain them.
ByPeter Gasca•
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Myfather's generationwas raised with the expectation that they would learn and hone one expertise and work in one company for most of their lives. Most of them did.
My generation had much the same expectation, but instead we worked with a number of different companies throughout our careers and evenchanged vocationsa few times.
Today, young talent entering the workforce has altogether different expectations. They are expected to work and gain experience in a number of different jobs and to have general business skills that make them more adaptable to the rapidly changing environment.
Moreover, millennials andsubsequent generations会更容易因为交换名片吗of the flexibility and ease by which their jobs, particularly technology related jobs, allow them to work in a variety of different capacities and different locations.
Related:4 Ways to Get the Best Talent to Choose Your Startup Over a Big Company
While entrepreneurs and business managers may value these skills, they are also aware of the significantcosts associated with employee turnover. So what is the best way to retain top talent?
Turning mercenaries into loyalists, as described by technology venture capitalistFred Wilson, comes down to providing your team members validation and inspiration. Here are a few ways to assure your best team members don't jump ship.
1. Mission
Employees andyoung talent in particularwant to have significance and validation, so you have to demonstrate that your business is making an impact. Take time to craft a meaningfulmission statement为封装了你的目标和你的业务will provide inspiration to your team every day.
2. Culture
Your business will be led by its mission, but your company culture is derived and driven by your core values and those of your team. Engage your young talent whendefining your company values, and allow them to cultivate and nurture your business culture.
3. Location
With high speed Internet, most tech and creative jobs can be done from anywhere. Consider setting up shop in undervalued and underutilized places, such asMyrtle Beach, S.C.,which has existing fiber, an affordable cost of living andnew initiativesthat are attracting top tech talent and companies. Keep in mind as well that if you are located in highly competitive cities, such as New York, Boston or San Francisco, then your best talent is likely to get recruited by companies with much more capital.
Related:Why It's Smart to Treat Your Employees Like Your Best Customers
4. Workplace
If you are providing a workplace for your team, planning the space is important. It should come as no surprise that many of the "best places to work" are companies with the most creative workplaces. Your young talent has options, so considerproviding a spacethat promotes productivity, inspires creativity and innovation, and ultimately makes your team comfortable and happy.
5. Perks
Salary, bonuses and retirement funds were all the default set of company benefits when I was beginning my career. Today, young, ambitious employees have different priorities, such as flex time, upward mobility and even convenient concierge services.Understand what motivates your employeesand never assume you know what is best for them.
6. Leadership
The one thing that binds all of these things together is leadership, without which even the best businesses will fail.Leadership skillscan be learned and should be constantly refined, but be sure to hone those skills before you start, because nothing will kill employee motivation faster than a lack of leadership.
In the end, entrepreneurs need to understand that employees come and go -- it's nothing personal -- and for the most part, broad experience can be good for both employees and employers alike. The more youwork with younger talent, the more you will come to understand what drives them and, consequently, what you need to retain them.
What tips do you have for retaining talent in your organization? Please share your thoughts in the comments section below.
Related:Money Is Nice, But It's Not Enough to Motivate Employees
