Top 3 Ways to Retain Millennials and Gen Z Workers Through Upskilling
November 2, 2021
The future of work is changing quickly. Employees must keep current with necessary skills while continuously developing new skills. Learning opportunities from the pandemic reveal that it is essential for employees to have a sharply honed skillset.
There is also a responsibility for employers to provide and support skill-building and improvement to retain valuable employees. The World Economic Forum (WEF) found that 50% of all employees will require upskilling or reskilling by 2025[1].Millennials and Gen Z workers are becoming the primary demographic in the workplace. By 2030 Millennials will make up 75% of America’s workforce[1]. Generation Z is the most recent addition to working group statistics and is catching up to their older counterparts. Current estimates project that by 2025, Gen Z workers will comprise 27% of the workforce[2]. The expectations of these two workforce labor groups will look different than the expectations of previous Gen X and Baby Boomer generations.
To start, Millennial and Gen Z-ers are looking for employers to prioritize and provide upskilling to keep them in their jobs. Upskilling allows companies to invest in current employees to further enhance existing skills and build new skills that provide value to the company. Upskilling serves to make an employee more valuable by investing in the talent already in place and creating an environment in which the employee thrives. It’s more expensive to replace an employee than to invest in existing talent and build skills internally[3]. The thought process behind an environment in the workplace with upskilling built-in is to create consistent and perpetual learning, which is critical to continued success[4]. Another benefit of upskilling employees is that businesses are more competitive when retaining top talent. Millennials and Gen Z-ers are comfortable switching jobs if they are not finding personal rewards in their current positions. These two generations will look elsewhere to find growth opportunities or develop new professional skills. In the past three years, 35% of workers have changed jobs[5]. To keep top-performing employees satisfied, upskilling is a smart business practice.
How Can You Easily and Quickly Upskill Millennial and Gen Z Employees at Work?
Companies need to commit to making upskilling a priority to increase Millennial and Gen Z employee retention. This commitment to upskilling will also ultimately drive future business growth. There are three key ways to upskill Millennial and Gen Z employees in the workplace.
Driving engagement through learning opportunities with experts. Upskilling satisfies the Millennial and Gen Z desire to learn more as data supports that 83% of Gen Z-ers want to learn how to perform better[6]. Millennials and Gen Z-ers know what skills they can offer to an employer, and they look for employers who can offer the next steps in professional development. Additionally, ongoing education (such as upskilling) and mentorship are highly valued[7].
Enabling engagement with peers. Having a supportive connection (even in a remote space) with coworkers continues to drive satisfaction and increased productivity in the workplace[8]. Knowing there is an opportunity for collaboration contributes to the Millennial’s and Gen Z-er’s satisfaction in the workplace. Millennials much prefer frequent and valuable interactions in group projects and task assignments. They need to feel like a valuable part of their team[9].
Providing content to build skills that enable promotion.This is key to connecting with Millennials and Gen Z-ers. A company culture driven by transparent communication and loyalty sets the tone for progress when it comes to Millennials and Gen Z-ers[10]. Millennials and Gen Z-ers are ambitious, driven to succeed, and a company must recognize the value they bring to the workforce. Knowing what the company goals are and how they align with the personal and professional goals of the Millennial or Gen Z-er employee will ensure that they will strive to meet if not exceed those goals[11].
Millennials’ and Gen Z-ers’ desire for professional development can be easily and effectively managed by upskilling through E-learning platforms. Here is what you should look for:
Customized learning solutions with company-centered content and training and modules that target employees attaining the next level of skills
World-class AI-powered technology used in online learning environments prioritizing user experience
Data-driven solutions that provide insight and verifiable analytics for employee engagement, performance, and progress
Content provided maintains learner involvement and drives engagement
Systems designed with effective and immediate implementation
Amesite Offers a Single, Easy to Use, Scalable Solution
A robust upskilling program and platform is the most essential tool you can provide to your Millennial and Gen Z employees to drive employee retention. Partner with Amesite to deliver a world-class product that enables your employees to learn and grow their skills with ease.
