Stay Interviews: A Fresh Approach to Retaining Millennials

By Sherri Merbach Managing Director, C-Suite Analytics | March 04, 2018

High millennial employee turnover saps us of the talent they bring and the training we've given them. So how can we reduce turnover to leverage their skills and improve our own productivity? Let's start with some facts:

- Millennials today are 13 to 35 years old, and will comprise more than 1 of 3 adult Americans by 2020 and 75 percent of our workforce by 2025

- Millennials change jobs and companies 7 times by age 28, and 10 to 14 times by age 38

- The average time a millennial spends in one job with one company is just 2 years

Distracting Data 

High millennial employee turnover saps us of the talent they bring and the training we've given them. So how can we reduce turnover to leverage their skills and improve our own productivity? Let's start with some facts: - Millennials today are 13 to 35 years old, and will comprise more than 1 of 3 adult Americans by 2020 and 75 percent of our workforce by - Millennials change jobs and companies 7 times by age 28, and 10 to 14 times by age 38 - The average time a millennial spends in one job with one company is just 2 years .

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Coming up in June 2019...

Sales & Marketing: Selling Experiences

There are innumerable strategies that Hotel Sales and Marketing Directors employ to find, engage and entice guests to their property, and those strategies are constantly evolving. A breakthrough technology, pioneering platform, or even a simple algorithm update can cause new trends to emerge and upend the best laid plans. Sales and marketing departments must remain agile so they can adapt to the ever changing digital landscape. As an example, the popularity of virtual reality is on the rise, as 360 interactive technologies become more mainstream. Chatbots and artificial intelligence are also poised to become the next big things, as they take guest personalization to a whole new level. But one sales and marketing trend that is currently resulting in major benefits for hotels is experiential marketing - the effort to deliver an experience to potential guests. Mainly this is accomplished through the creative use of video and images, and by utilizing what has become known as User Generated Content. By sharing actual personal content (videos and pictures) from satisfied guests who have experienced the delights of a property, prospective guests can more easily imagine themselves having the same experience. Similarly, Hotel Generated Content is equally important. Hotels are more than beds and effective video presentations can tell a compelling story - a story about what makes the hotel appealing and unique. A video walk-through of rooms is essential, as are video tours in different areas of a hotel. The goal is to highlight what makes the property exceptional, but also to show real people having real fun - an experience that prospective guests can have too. The June Hotel Business Review will report on some of these issues and strategies, and examine how some sales and marketing professionals are integrating them into their operations.