Employers are being urged to tailor their retention strategies to different age groups in order to ensure they are able to hold on to the best talent.
According to new research from MRINetwork, younger workers at the beginning of their careers are one of the most challenging groups to keep hold of.
Dubbed ‘hummingbirds’ because they move frequently from job to job, younger workers require different retention strategies than those in the middle of their careers.
Employers need to understand what motivates younger workers and offer incentives based on their needs and aspirations, MRINetwork claims.
For example, short-term benefits such as flexible working and performance-based bonuses appeal to younger employees more than long-term benefits such as pensions.
Younger workers are also more likely to remain in a job if they feel their opinions are valued within the company and they receive plenty of one-on-one support from their managers, the research suggests.
A recent survey from GRADdirect has revealed that the academic qualifications of graduate job applicants are less important than transferable skills such as communication and teamwork.