Retention Benefits When You Celebrate Young Professionals
Olivia Hairfield
Published: 03/12/2024
As a team manager, keeping the young professionals on your team engaged and invested in the long term can be a challenge. In a 2019 study of adults ages 18-38, 43% of Millennials and 78% of Gen Z workers surveyed planned to leave their job within two years. However, the survey also shared guidance for improved retention. According to the study, 79% of those surveyed said that increased recognition in the workplace would make them feel more loyal to their employer. Additionally, data over the years has consistently shown professional development opportunities can be a make-or-break factor in a young professional’s decision to stay at their workplace. In a Gallup report, 87% of Millennials rate “professional or career growth and development opportunities” as important to them in a job. Monster’s 2023 State of Graduate report shows that 54% of Gen-Z new grads would turn down a role at an organization that didn’t offer career growth opportunities. It's time to think about how to develop lasting relationships with the young professionals on your team. Recognizing their unique needs and aspirations and investing in professional development and recognition opportunities have proven to be a winning formula for retaining a dynamic and motivated workforce.
Recognition of All Shapes and Sizes:
Feeling appreciated and acknowledged contributes significantly to employee satisfaction and loyalty. Regular recognition, whether through public praise, awards, or career milestones, boosts morale and reinforces the value the organization places on the efforts of its employees. Young professionals, like all professionals, want to have that level of appreciation and respect in their workplace community.
Recognition doesn’t have to be complicated or elaborate to be meaningful. For example, at AHP, we have ongoing recognition through our focus on gratitude. We add messages into a designated “Gratitude” channel on Microsoft Teams where anyone can share a positive message about a fellow staffer and the way’s they’ve made an impact. Your company’s intranet can be a great tool for this type of recognition.
AHP’s 40 Under 40 Recognition Program is another tool to celebrate the young professionals at your organization. This program honors the industry's brightest young leaders who have demonstrated success in their careers in healthcare philanthropy. Consider nominating the healthcare philanthropy professionals under 40 on your team who have made a difference for your donors, your organization, or in your overall community. Learn more about the program on AHP’s website.
Investing in Career Growth:
One of the primary drivers for employees under 40 is the opportunity for continuous learning and career advancement. By providing avenues for professional development, organizations signal their commitment to the growth and success of their employees. Offering workshops, training programs, and mentorship opportunities not only enhances skill sets but also fosters a sense of loyalty and engagement among younger employees.
If you have money set aside in your budget for professional development or your organization provides scholarships, make sure your direct reports and team members know they have financial support to pursue career growth. Even if you don’t have a specific line item in your budget for professional development, you can show your support by encouraging your staff to block a few hours each week on their calendar for exploring free resources. One great place to encourage them to start is AHP’s On-Demand Learning Hub, which has articles and videos on a wide range of healthcare philanthropy topics.
If you have an advanced certification like your CFRE, your encouragement can make a difference for the young professional considering pursuing the certification for the first time. Start by sharing your own certification journey, including challenges and successes, and offering guidance on meeting the educational and professional practice requirements. You can also recommend relevant courses, workshops, and on-the-job experiential opportunities to help your staff member accumulate the necessary points and experience for certification. By making the opportunities clear and accessible, you demonstrate your support.
In the current philanthropy job market, employees have numerous options, and the competition for top talent is fierce. Companies that prioritize professional development and recognition gain a competitive edge by positioning themselves as employers of choice. Plus, your current employees are more likely to stick with a company that invests in their growth and acknowledges their contributions. Prioritizing professional development benefits and recognition opportunities is a win-win for everyone involved and will help ensure sustainable success and growth in the ever-changing world of healthcare.