For many companies, it’s the time of year when recent grads and summer interns turn into full-time employees. Bright and shiny, with the new business card holder they got for graduation, they’re now a part of your team. While you’ve probably seen plenty of new entry-level employees come and go over the years, you could play a part in retaining these new team members.
An entry-level employee may be new to your company, buy they still provide value on a day-to-day basis. In fact, replacing even an entry-level employee can cost anywhere from 30 to 50 percent of their salary and retaining them can help to decrease your company’s turnover over time. So how can you increase the commitment level of this group of employees? Take a look at these three tips:
Invest in their future
Similar to relationships in your personal life, employees who see that you genuinely care about them are more likely to be loyal. It’s just human nature. Additionally, one of the great things about recent graduates is their ambition and desire to grow. Couple these together and make investing in their future a priority with learning and development growth opportunities. Not only will it make new employees more likely to stay with your company, but it will also be an investment in your company when these employees are able to use what they learn for years to come.
Make work play
While baby boomers tend to be work-a-holics and gen X leans more toward a healthy work/life balance, today’s recent grads blur the line between work and home. It’s not that this generation wants to work non-stop, but instead they prefer to do work that is fun and meaningful with people they connect with. Less attention is paid to when the work is done or how much of it there is, as long as those criteria are met. Work doesn’t always have to be a party, but improving the culture of your workplace and focusing on more team projects for this group of employees can help to foster relationships that make the job worthwhile.
Provide advancement opportunities
There’s a lot of talk about how Gen Y workers want a promotion every time they complete a task. While that running joke is certainly an exaggeration, it is true that recent graduates have big aspirations for their careers and expect to reach milestones within a reasonable amount of time. Providing opportunities for growth doesn’t mean making up over-inflated titles and ambiguous positions. It can be as simple as determining a path for future advancement and success. Having something to work towards can be extremely motivating, whether you’re a seasoned professional or a recent graduate.
Have you recently hired new grads? If so, what’s your plan for retention? Let us know in the comments below.