The SME CEO Peer Group


Why Is Attrition Rate Rising With The Advent Of The Millennial Workforce?

Over the years, millennials have earned a very strong reputation of being a job-hopping generation, never attached to any workplace. Switching jobs and sometimes, changing career paths, is not something this fast-food eating generation is new at! And quite honestly, that’s the question the whole HR fraternity around the world is mulling over - why do they do what they do?

Often described as a ‘complex’ generation, a closer look at their working pattern suggest, there’s more than meets the eye. What seems like a rudderless approach to life is actually their reaction to the absence of strong organizational culture. According to an independent study, millennials are purpose driven beings, who fly away the moment their purpose waffs up in thin air! For businesses, this suggests that if millennials don’t see their future with them on a long-term basis, they simply leave.

So, why do businesses need millennial workforce after all?,

It is estimated that in less than 10 years down the line, millennials will makeup close to 75% of the total workforce in the world! This means, if businesses don’t find a way to engage millennials with their working culture, they’ll miss out big.

So, what’s the solution?

A strong culture at work is the answer. When an organisational culture is synced correctly with an employee's value, aspirations and drives, it can unleash a tremendous amount of energy towards a shared purpose and foster an individual’s as well as the organisation's capacity to thrive.

But how can organisations build a strong culture?

Thankfully, there’s an answer for this too! The overall Cultural Transformation is the only solution to this problem. It aims at building a strong culture that not only attracts talents but also retains them, while accelerating ongoing business development.

Wish to know more? Well, connect with us today and we will be more than happy to help you.

Tridiv Daas is the originator of Creative Factor Group.

Having spent over two decades in advertising & marketing and worked on some of the most prominent brands like Intel, Apple, Essilor, Schneider Electric. He is now empowering small and medium organisations to thrive in the present opportunities. Connect with him at tridiv@creativefactor.in


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