What Makes Millennials Stay : reasons behind employee turnover within a group of millennials

Abstract

Employee turnover is a significant challenge faced by organizations worldwide, leading to increased recruitment and training costs, reduced productivity, and a loss of organizational knowledge. This problem is particularly prevalent in the millennial workforce, where studies have shown that employees tend to switch jobs more frequently than any other age group. Therefore, it is essential for organizations to identify and address the factors that impact employee retention, specifically in the millennial workforce. The aim of the thesis was to gain understanding of what millennials value in working life today, what they expect from their employers and what are the key factors that affect their decision to stay in a company or look for employment elsewhere. The thesis begins with an introduction to the topic and key concepts. The theoretical base functions as the foundation for the research by explaining, analyzing, and discussing the core concepts using material from previous research. Qualitative research is utilized in the form of interviews with a group of millennials working fulltime in the field of business. The conclusion provides answers to the research question and suggestions for companies to utilize the ideas toward employee retention. This thesis can be utilized by companies that are looking into ways of reducing turnover and maintaining and improving employee satisfaction.