"From offering free yoga classes and car washes to on-site acupuncture and massages, companies will do whatever it takes to attract and retain young talent.
"Millennials, who will account for three quarters of the workforce by 2025, are predicted to leave their first jobs in droves within two years of joining. It's no wonder then that businesses are willing to go to extreme lengths to avoid the high costs of turnover," writes Tarik Taman, Infor HCM general manager, in a June 12 guest article—"The Science Behind Retaining Millennials"—for Fast Company magazine's Hit the Ground Running series.
"Younger generations are looking for work-life balance and are not afraid to job-hop to find it. … Here's how to snag—and keep—talented and loyal employees.
"… Enter talent science: the practice of leveraging behavioral and performance data to evaluate job candidates based on their cultural fit with an organization and likeliness of success. This science not only helps companies decide who the right person is to bring on board, but also what role within the company they would be best suited for and how likely they are to drive value for the business from hire to retire.
"… This practice can instantly produce comprehensive insights on every job candidate, internal or external, allowing you to select the right person for what they bring to the table and keep them there sans ping pong tables and summer Fridays."
Read the complete article on FastCompany.com.