Retaining young talents, is it possible?

by | Jun 23, 2021 | Blog

Do you know the difficulty of recruiting talents, the resources that this represents, the extreme frustration felt when these young talents leave the company after a few years despite the investment of hundreds of thousands of francs made on it ? This article might interest you.

Finding and retaining young talent is a real challenge. Staff retention, especially of young talents, has become extremely important, especially when you consider the cost in money and time of a recruitment, integration and retention process.

In fact, according to a recent report written by Intelligence Group [1] , the recruitment process takes, on average, 62 days per hire. As for costs, according to the data Adecco Group [2] , companies spend an average of $ 25,500 on recruiting, $ 37,500 on integration costs (trainings, systems and HR time) and $ 44,700 on indirect retention costs for one employee.

If we also consider that, according to Swiss Federal Statistical Office [3] , one out of five people quit their job in a year, we quickly understand how problematic the situation is.

Is this new generation really that lazy?

However, is this new generation really that lazy? Are today’s young adults really so disconnected from the professional world?

According to Deloitte [4], three-quarters of millennials don’t feel considered at work. Indeed, according to their point of view, Swiss companies do not assume enough social responsibilities and act only for their own interests. It is for this reason in fact that, generally, the new generations do not attach themselves to the company but rather to the team or the manager.

Changes in the professional world

We can see that changes in the professional world are rapid. The current crisis has accelerated digitization through compulsory remote working and, in order not to lose future opportunities, it is crucial to adapt to the new expectations of customers and employees.

Digital skills are key. There is a real need for coding, integration of different systems, and Community Management” Marc Benninger – Editor in Chief HR Today

According to Academic Work Switzerland [5] , retaining young talents, is not important only to save human resources’ money and time. In fact, inspiring and attracting new generations has become a fundamental factor of competitiveness.

The most sought-after young talents

Since young talents are very sought after, it is important to put in place suitable recruitment strategies. For example, having flexible hours and being able to take advantage of a series of internal trainings is a real asset today. Indeed, according to HR Today [6], 54% of young people prefer a company that gives them the opportunity to improve their knowledge, especially digital skills, rather than working for an employer that does not encourage them to progress in their profession.

“Work climate, company culture, authentic environment, consultation and listening are key factors in retaining young talents” Marc Benninger – Editor in Chief HR Today

Also, according to ManpowerGroup [7] , 69% of young adults in Switzerland are ready to continue learning for the rest of their lives, investing their energy, time and money in new trainings. Four out of five millennials consider this to be a very important factor when they are looking for a new job.

The criterion of the employer’s reputation is also important.

We know this. Just as we can take a look at the insta-profile of our next appointment, we will also scrutinize the LinkedIn profile of a potential employer and that of our future colleagues. The figures confirm this, as 52% of candidates first consult the company’s website and social networks (source: Randstad Employer Brand 2021*, available free of charge) before applying. This question is nowadays unavoidable: is the company culture reflected in a transparent and relevant way in a world driven by digital?” Anou De Busschere – District Manager at Randstad Switzerland

Is it enough to offer a good salary today?

Providing a good income is not enough today.

The atmosphere at work is a major factor to consider as an employer.

“In Switzerland, younger people in particular (18-24) are looking for well-being: a pleasant working environment is the most important factor, with work life balance coming in second place. After the age of 45, salary is again an important factor.” Anou De Busschere – District Manager at Randstad Switzerland

Randstad Study (employer brand research 2021)

What 123nextgeneration® can do about it

Our trainings help young adults achieve their professional goals, and they make life easier for human resources, ensuring that their young talents remain in the long term, engaged and satisfied with their occupation.

123nextgeneration® helps companies wishing to develop their talents, prepare them for tomorrow’s challenges, motivate them, and thus improve the recruitment & retention of talents, their impact and visibility thanks to digital content.

In particular, we have training courses that could interest your employees on “managing your personal marketing and digital presence”, “managing stress”, or even “developing public speaking”.

Would you like to know more about becoming a sponsor and providing your employees with these training courses? Email us at welcome@123nextgeneration.com or call us on 022 552 22 40.

You can find more information on our website: www.123nextgeneration.com. You can also join our LinkedIn, Youtube and Instagram “123nextgeneration” network. We look forward to meeting you soon.

randstad.ch/etude Randstad Study Employer Brand 2021, available for free

[1] https://intelligence-group.nl/en/news/recruitment-costs-on-average-4-494-euro

[2] https://www.adeccogroup.com/future-of-work/latest-research/global-talent-in-the-age-of-artificial-intelligence/ ** Adecco Group estimates assume an average salary of $150,000 per employee and total onboarding costs equivalent to 25% of salary.

[3] https://www.bfs.admin.ch/bfs/en/home/statistics/catalogues-databases/publications.assetdetail.2241470.html

[4] https://www2.deloitte.com/ch/en/pages/human-capital/articles/millennials-at-work-interview-anna-samanta.html

[5] https://www.academicwork.ch/business/ypai-2019

[6] https://www.hrtoday.ch/fr/news/les-nouvelles-attentes-des-jeunes-sur-le-marche-du-travail-en-suisse-romande

[7] https://www.manpower.ch/en/generation-y-career-2020

[8] https://blog.betterstudy.ch/78-des-suisses-vissent-un-juste-equilibre-entre-travail-et-vie-privee

[9] https://www.helloworkplace.fr/loi-pareto/

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