What Work Environment Do You Need to Retain Millennials?

Millennials require a different sort of workplace to thrive, and it's because they have a different approach to life than the generation of their parents. Younger workers love a flexible work environment, but your company must do more than just break the standard 9-to-5 workday to retain millennials. Discover a few tips on how to keep your top talent once you get someone to sign on the dotted line.

Statistics

A survey from Bentley University says that 77 percent of millennials believe flexible work hours make them more productive. Other studies reveal that a flexible work environment benefits employers and younger workers, which is why business leaders, regardless of the traditional workplace model, should listen to what younger people want to try to retain millennials.

Loyalty

Millennials are very loyal, despite reports of job hopping. The 2017 Deloitte millennial survey points out that younger workers are more likely to stay with a job for five years or more, and it's partially due to a flexible work environment. This type of benefit gives workers more control over their schedule, location and even the types of benefits they want to enjoy. If you take care of younger workers in the right way, they should return the favor with long-term productivity.

Technology

Whether it's communication, collaboration or telecommuting, millennials love to use technology at the office. You rarely see a millennial without a smartphone, mobile device or tablet. Leverage this technology to create a flexible work environment that utilizes video conferencing, cloud computing, meeting software and collaboration tools. Younger workers love to set up a home office from a remote location, but they also crave connections with their co-workers. Make this happen with the proper software to grow your team.

Impactful Work

Just as important as money is making a difference in people's lives. When millennials know how important their roles are to society as a whole, to their community or to individual customers, they want to have a positive impact on those people. Sponsor volunteer opportunities and donation drives while maintaining a socially conscious presence in the community. Altruism at the office shows everyone that the company cares about larger issues than just turning profits, and that goes a long way to piquing the interest of millennials.

Work-Life Balance

Keeping millennials engaged with their jobs comes down to work-life balance. Younger people value this benefit more highly than a salary, and they are more likely to stick with an employer who helps workers meet professional and personal goals. Find a way to blend work with personal lives to make a job more fulfilling. Foster a family friendly environment with telecommuting, in-office day care services, a pet-friendly workplace and a liberal family leave policy. Achieving a work-life balance is the goal of a flexible work environment in the first place.

A flexible work environment means higher profits for companies because there are lower turnover rates and satisfied employees who love their jobs. Think about how to move your company forward in 2017, because by 2025, millennials should make up three-fourths of the American labor force.

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