Source: Saratoga Institute, 1997

Retaining Younger Workers
Young people just starting out in their careers often flutter like hummingbirds from job to job. Here's some advice on how to get more of them to stay in their job:

+ Ask them for their opinions. Studies show employers can reduce turnover in the younger crowd by convincing them that their opinions are valuable. Surveys indicate that the top quality they look for in a boss is "someone who listens."

+ Give them some space. Younger workers want to work at their own pace, according to their own style. Let them know your expectations, then give them the freedom to reach those goals any way they see fit.

+ Don't be a stranger around the workplace. Younger workers value face-to-face feedback on their performance.

+ Use short-term incentives. Flexible work schedules, performance- based cash incentives, increased self-direction and other programs offering immediate benefits are often more effective in recruiting and retaining younger workers than long-term programs such as the 401(k).

Source: 2000 Employee Recruitment & Retention, Lawrence Ragan Communications, Inc. Adapted from Communication World magazine.

Know Your Workforce
A poll of 660 U.S. workers by management search firm BridgeGate LLC studied reasons workers gave for staying with their current employers. Although "a raise" was the most popular response at 43.2 percent, 50.5 percent gave reasons other than money. Some conclusions:

+ Women value flexible schedules more than men do (17.3% vs. 11.2%)

+ Men are motivated by stock options (12.0% vs. 4.7%)

+ A raise means more to workers ages 25-34 than it means to those in all other age groups (52.3% vs. 43.2%)

+ Benefits are most important to older workers: 30.1% of those ages 45-54, and 36.7% of those ages 55-64, compared to 23.1% overall.

+ Younger workers (ages 18-24) are more influenced by training opportunities (10.7% vs. 4.7% for all respondents).

Source: 2000 Employee Recruitment & Retention, Lawrence Ragan Communications, Inc.

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