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Compensation Cafe: Millennials on the Market

by Derek Irvine

Compensation Cafe logoRecognize This! — Career advancement can be perceived as only possible by changing organizations. Good leaders — and good cultures — give employees reasons to stay.

Recognition and retention are inextricably linked with each other. There is extensive research showing employees who do not feel noticed or valued are far more likely to leave for a workplace where they are. Blend this with the seemingly endless reports that Millennials are particularly likely to jump ship if they don’t feel praised, and it can seem like a bit of a firestorm on the topic with Millennials potentially targeted unfairly.

Why do I say “unfairly?” Yesterday on Compensation Cafe, I shared a recent study from the Federal Reserve Bank of New York (reported in the Washington Post), that shows how much you earn in the first 10 years of your career is a primary factor in determining your lifetime earnings.

This should give us all pause to consider are we giving our early-career employees enough opportunities to grow and develop? Are we compensating them commensurate with their increasing duties? Are we giving them enough reason to stay and build their careers in your organization?

Read the full post on Compensation Cafe, then come back and tell me, what else are we doing or should we be doing to make the current workplace nearly impossible to leave?

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