Half of your millennials don't plan on staying at your company.
Want to keep your young talent?
Do you want your young, up-and-coming leaders growing, engaged, and still at your company? According to a Gallup report, only 50% of millennials strongly agree that they plan to be working at their company a year from now. Good luck.
Young, talented, and ambitious professionals are hopping from company to company in search of better opportunities. They won't stay at your company just because you've given them a good job. Even that new ping pong table you put in won't keep them there. In fact, there's a good chance your top talent might be scrolling job sites this very moment.
Your company has searched for, vetted, hired, trained, and invested in them. They are good at what they do, they have a ton of potential at your company, yet they don't stay. And you're not alone! According to a 2018 study, 46% of companies experience internal talent management & retention as a challenge.
So what then? Is it even possible keep your top talent?
50% of millennials aren't planning to stay.
46% of businesses are struggling to keep their top talent.
Keeping your top talent is possible.
What would it take for your top talent to stop looking elsewhere? Is there anything your organization can do so that they want to change their LinkedIn settings to "No - don't let recruiters know you're open to opportunities"?
It's not just the money.
Sure, a large paycheck is great. And you might be able to attract talented candidates with it, but you won't keep them just with money. Why? Because no one believes they can ever make too much money. What happens when you don't agree to another raise, or another company makes a higher offer? If the only reason to be at your job is for money, then as soon as more money is offered, your employees will have no problem leaving. Attempting retention through compensation alone is unsustainable and, frankly, illogical.
Your emerging leaders believe they can do more and be more. And you know what? They're often right. So why not empower them to reach their highest potential? When one of your young, up-and-coming leaders is provided opportunities to learn, grow, and experience more, they won't want to leave. While there may be no limit to how much money they want to make, there is a limit to how much they want to be challenged. If your talent is making enough to provide for themselves and their families, and they feel like they are growing consistently, being challenged sustainably, and performing at their peak, there will be no desire to give up the fulfillment that comes from that.
And it's engagement.
According to Gallup, only 29% of millennials are engaged at work. To keep young talent at your company, you need to engage them. When they feel connected to their role, their leadership, and the vision of their company, they won't want to break that connection.
When most people look at a job offer, they can clearly predict how much money they will make,
but not how much they will grow, how fulfilled they will be, or how connected they will feel.
You will often find that the risk of losing growth, fulfillment, and connection will outweigh
the desire to get a new job for just a bigger paycheck.
What will it take?
Growth through Opportunities
Engagement through Leadership
Most organizations are just not equipped to provide enough one-on-one attention and personalized growth opportunities internally.
At Arabona, we make it easy to outsource.
Our focus is to provide the individual attention and tailored growth plans that your emerging leaders are looking for through one-on-one coaching.
Coaching is one of the most effective catalysts for growth.
Coaching assesses the current situation, increases self-awareness, and guides participants through a challenging journey of focused growth. Through this process, they will come to know more, see more, learn more, grow more, and become more. Through it all, we are careful to provide the support necessary to ensure this growth remains healthy and sustainable.
Yes, we mean through leadership. Not with more toys, games, and office parties (although they are nice perks).
You don't just want more engagement, you want the right engagement.
Someone can enjoy the company party and hate the company. At its core, engagement at work does not come from entertainment, but from alignment.
At Arabona, we help you build this alignment.
Great leadership is key to employee engagement. We provide coaching and consulting specifically for managers and executives to empower them to lead emerging leaders well, provide inspiring vision that they can connect with, and foster the engagement that they are longing for. This will create the kind of connection that is a win for everyone involved.
"I have no reason to stay at a job
if I'm not earning more or learning more."
Build Structures for Success
You will not see lasting success in the retention of emerging leaders unless three things are present together.
#1 - on the organizational level
Growth is valued, and there is a plan and a process for investing in young talent, with structures and opportunities in place to ensure that it happens well (whether internally, outsourced, or both).
#2 - on the immediate leadership level
Leaders lead with excellence and provide a challenging and inspiring workplace that is also safe, collaborative, and understanding of these young professionals, drawing out the best in each of them.
#3 - on the individual level
Individualized attention and tailored opportunities for personal and professional growth are provided for these talented individuals you want to keep so that they can improve their skills and maximize their potential.
So why hire Arabona?
Because not just anyone will do.
We are young.
Your emerging leaders want a young coach who can relate to them in this season of their lives.
We are seasoned.
You want a consultant who has worked with leaders and organizations for many years.
We are energetic.
Boring talent development just isn't very effective. Your emerging leaders want to engage in the process.
We are multi-cultural.
Our international team will connect with, honor, and leverage the diversity of your emerging leaders.
Let's have our first conversation.
We want to learn more about your organization and the season you are in. Our goal is to add value in every interaction we have. Contact us to set up an initial consultation.