Tabetha Sheaver, owner of Plus Delta, a highly respected St. Louis based business consultancy, and a professional EOS® implementer, said business owners should take several action steps to help retain millennial workers.
According to Sheaver, the challenge of retaining millennial employees is a constant hurdle for business owners who need to maintain optimal productivity and profitability.
“A recent survey published by The Motley Fool indicated some 55% of those who made a career change during the pandemic were millennials,”
“This generation is becoming known for job hopping and business owners need to be prepared,” said Sheaver. “The goal is to avoid the high costs of constant recruiting, training and employee churn.”
One action step Sheaver recommends is for CEOs to open the lines of communication with millennials.
“Business leaders need to facilitate, encourage and enrich dialogue so millennials gain a greater understanding of where they stand in the organization. They need to converse freely with management about not only their job but about their hopes and aspirations. In other words, create a safe space for two-way conversations.”
Sheaver also finds millennials positively respond to leaders who take the time to explain their thinking. “CEOs and owners need to communicate their ‘why’ and clearly show them how to do what is asked of them. Executives may have been doing their job for 15-20 years but millennials have not. Simply telling them what to do and handing them a workbook with a computer and software is not enough. They need to learn and managers need to lead them through the process.”
Thirdly, Sheaver said leaders need to invest more time with these younger workers. “It’s about caring and demonstrating a level of empathy with the employee. When they feel a level of comfort about their learning and development they are more likely to stay.”
The overall process Sheaver indicated does take time. “It takes awareness from the owners and leaders who are unconsciously competent because they’ve been doing their jobs for so long. Millennials, on the other hand, may be unconsciously incompetent. Shining light on all this in a healthy way can be invaluable for both ownership and all members of the team.”
Tabetha Sheaver operates on four core values. These include integrity-do what we say we are going to do, Be The Buffalo-running head-on into problems and fixing them, teamwork-aligning everyone in the organization to help the client achieve their goals, and kindness throughout all client endeavors. Sheaver hosts the Breaking Through Biz podcast.