Only 50% of millennials plan to be in their current company a year from now. That means one in two workers are looking for new opportunities, making them a flight risk for any organization trying to retain their top talent.
The key different for this generation, suggest J. Brandon Rigoni and Bailey Nelson for Gallup, is that millennials are job shoppers. Just like they shop for a new TV, millennials want to work for brands they're aware of, trust, and have a good relationship with. That means employers need to market themselves to employees as much as they're marketing themselves to consumers.
To attract the best workers, organizations need brand strategies that account for millennials' motivation and ability to find the best employers -- especially considering that millennials currently make up 38% of the U.S. workforce, and some estimate that they will make up as much as 75% of it by 2025.
Companies should start by thoroughly understanding how millennials search for information -- from the websites they visit to the social media accounts they follow. It's also critical that leaders discover what millennials want in an employer, such as opportunities to learn and grow and great managers. Then, companies should carefully develop and strategically promote their brand and culture so that it's easy for job prospects to choose them over the competition.