I represent a four-decade-old organization with 750 + employees. We value employee longevity, and it is one of the parameters in all our hiring decisions. The recent trend is quite disturbing. The average tenure of employees has come down drastically in the last decade. We grew during this period and hired in the entry and lateral levels. The demographic profile of the organization is younger than ever before. Gen Ys form the largest segment of the organization, and retaining them is a challenge. Employee loyalty seems to be on the wane across all age groups but more so with the younger generation. On one side, our hiring has increased by leaps and bounds, and on the other side, we are losing employees within a shorter duration. Can we ever dream of having loyal employees stay with the organization for longer duration?
Dreaming HR Manager
Dear Dreaming HR Manager,
While you associate loyalty with long-time employment, they are not always proportional! Remember, loyalty is owing allegiance to the company-its targets and approach- and following its ethics without seeking undue advantage. However, a loyal employee may not always stick around if the opportunities he or she is seeking are not available. Sometimes, the employee is ungratified with work and acknowledgment of their efforts, the latter could be rewards or remunerations. If you want to intertwine loyalty and longer stints, you have to offer them the chance to grow their career in your organization.
You have to study why the attrition rate is higher among one age group. What is it in the roles that can excite them, and what opportunities do they seek? Cracking this would lead you to the programs and policies you need to adopt to keep them excited at the job.
Seek a mix
As a growing employer, you can reap the rich dividends of a diverse workforce. Such diversity should also comprise a generational mix. Do you have them?
Here is a resource that explains why the mix is important.
https://avtarcc.com/diversity-digest/diversity-in-the-workforce/multigenerational-workforce-why-we-need-to-accommodate-them-all/
DEI plan
A diversity, equity, and inclusion plan for the organization to tap into the different strands, gender, generation, persons with disabilities, and sexual orientation will also help in the growth and expansion plan of your organization.
And when you focus on these, you will be able to devise policies catering to each of the strands and enable a fruitful association with all.
The average tenure will be poised to increase.
Good luck!
