Millennials are ready to move on: How can employers retain them?

Employers are being advised to offer opportunities for upskilling and reskilling to Millennial talent after a new report found that they are more likely to find a new job this year.

The findings, released by General Assembly, revealed that opportunities for upskilling and reskilling are essential to job satisfaction, which is central to retaining Millennial talent.

"Our research finds that offering opportunities to build AI skills, reskill for internal opportunities, and learn on the job is essential to retaining this generation," said Daniele Grassi, CEO of General Assembly.

Grassi said Millennial employees possess a combination of technical proficiency and soft skills that employers can't afford to lose.

"Many have developed significant institutional knowledge and career experience that employers should prioritise retaining," the CEO added.

Millennials are ready to leave

However, General Assembly's recent findings revealed that 49% of Millennials would immediately begin looking for another employer if the job market were to significantly improve for candidates.

Another 37% would be open to opportunities from recruiters and their networks.

Millennials' desire to find another employer is rooted in their job satisfaction. In fact, only 14% of these employees would not be open to a new role because they are satisfied where they are, according to the report.

And while 79% of Millennials report being very or completely satisfied with their jobs, this declines to 63% for individual contributors.

"Senior Millennials appear more secure, more optimistic, and more confident about their growth. Individual contributors, on the other hand, are more likely to feel stuck and less certain about their future – especially in a shifting AI-driven economy," the report read.

"This gap matters. It suggests that satisfaction is less about generational attitude and more about access to opportunity and progression."

What Millennial employees want

According to the findings, employees who have a clear path to career advancement are more likely to be satisfied with their jobs. 

Those who believe their company would support them upskilling or reskilling to take on a new position internally are also more likely to report higher job satisfaction.

Opportunities to develop new skills also emerged as the fourth-highest motivation for Millennials in a job change, according to the report.

This indicates that while learning is not the top motivator, it's the stronger differentiator once baseline needs such as compensation and benefits are met.

"Organisations that fail to deliver on these fronts risk losing experienced, mid-career talent the moment the market shifts," the report read.