How to use career development to retain millenials
A new survey has found that more employees than ever are restless in their roles, with workers wanting better pay, better benefits and – above all – a definitive way to develop their career.
“Career development is the number one thing people are looking for,” agreed HR manager Ilka Bene. “You have to offer employees opportunities to grow and develop.”
The study found that 36 per cent of employees are looking for a new job, with the majority citing “career growth opportunities” as their biggest motivator.
Bene, who heads up the HR department at Island Savings – says this doesn’t have to spell disaster for HR.
“You have to put your money where your mouth is,” urges Bene. “What we’ve done over the last few years is really invest in our leadership development so they will have the skills to coach and support everyone.”
The Vancouver Island based financial institution has been voted one of the best employers in Canada for five years running.
The survey revealed that younger workers are the most likely to be looking elsewhere – with 45 per cent of employees aged 25-35 on the job hunt.
The study also offered employers some insight into what employers have come to expect:
- 55 per cent expect their company to play an active role in their individual career options. Sixty per cent of male employees expect this vs. 49 per cent of female employees.
- 38 per cent of employed millennials are looking for a job with more meaning.
- 43 per cent of entry level employees want a role with more meaning compared with 21 per cent of managers/supervisors.