Not Just About The Money

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Not Just About The Money

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Millennials often get a bad rap; entitled, narcissistic and non-committal are words frequently thrown around in articles about the demographic cohort. In the workplace, there is definitely a trend for millennials to job-hop more frequently than their generational predecessors with a lack of engagement in the workplace often being cited as the reason for their jumpy CVs. In an ever-changing economic climate job security and a steady pay increase isn’t going to keep employees loyal like it used to. So, what does motivate millennials in the workplace and is unlocking this the key to reducing employee turnover?

I recently came across this article on Pulse by Chester Elton and Adrian Gostick titled ‘How making a difference in the world reduces employee turnover’. The article states the number one work motivator for Millennials is making an impact. We are more connected to the rest of the world than ever before and understand that our actions can and do have global impacts. Whether or not ‘making a difference’ is purely for self-gratification, being part of a company that contributes to the greater good has been found to increase employee engagement resulting in a decrease in turnover. The article focuses on a retail mobile company that has been able to reduce their turnover by involving their employees first hand in corporate social responsibility initiatives.

Whilst it is all well and good for employees to know their company makes donations every now and then it isn’t likely to create employee engagement. At Lotus every quarter we pick a charity to donate to as well as choose an initiative where we can donate our time. So far, we have volunteered at The Guide Dog Association and Ozharvest to assist in building new facilities and cooking meals for shelters. For me personally it is a great feeling knowing the company you work for shares your values and that my workplace offers me the opportunity to give back to my community.

Whilst not every business will be able to put a CSR initiative in place like the one discussed in this article, it is definitely good food for thought on how your company can make a difference to the community and in turn, increase employee engagement.

This post was written by Jessica Kniaz, Temporary Consultant. You can find out more on www.lotuspeople.com.au or call 02 8274 4617 or email jess@lotuspeople.com.au

 

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