How much time does your business have to win over the hearts and minds of a Gen Y employee?
According to a new survey of more than 2,500 senior human resource executives by Novations Group, half of the executives reported they have less than 6 months to “prove” to Gen Y employees that their company is the best place for them. One-quarter of respondents indicated they have less than a month. Only 22 percent felt they had more than 6 months.
"HR departments are seeing unusually rapid turnover among Gen Ys, or Millennials, and they’re not sure what to do about it,’ says the Novations report.
The widespread impression that that Gen Y employees do not hesitate to “job hop” to get what they want appears to be accurate. And three-quarters of HR executives seem to be aware of this and realize they have but a short window in which to capture the hearts and minds of such new hires.
Unfortunately few companies are doing anything about it or working on effective plan. Unlike past generations where 20-somethings were impatient and job hopping, today employers are faced with a revolving front door of young workers and a back door where aging boomers can’t exit fast enough.